|
About The Used
Car Business
1990 Mercedes Benz 300SL Paid $8,750 At
The Dealer Auction
Start up cost can be as low as $500 or as high as $30,000+, this is determined by the kind of cars you will be dealing in. My first car was a $1200 Ford Escort, I sold in a few days for $2200.
Anyone with a drivers license is a potential customer.
The average new car costs $24,231.
The average new car depreciates 38% by the first year; and a total of 50% by the second year.
The average used car costs $10,000 - $15,000 less than a new car.
An average person spends $200,000 - $600,000 on cars over their life time.
The car business is the worlds largest industry next to real estate.
The average dealer profit on a used car in
2005 was over $2875 determined by the National Automobile Dealers Association (N.A.D.A.).
The average dealer profit on a new car is only $600 - $800 determined by the National Automobile Dealers Association (N.A.D.A.).
The average Dealer Auction has 2000+ cars a week.
Dealerships & new car franchises purchase 80% of their used car inventory from the dealer auctions, 20% comes from trade-ins.
Most all cars at the dealer auctions have some kind of warranty or guarantee (factory warranties are transferable).
Because of the cost of new cars, many people are becoming more cost conscious and trying to save money by purchasing used cars.
The demand for quality used cars has
risen sharply -- over 47 million used cars will be sold this year.
"As I bought and sold my first few cars without
any guidance or help, sometimes I made money,
other times I made mistakes. Whenever I made a
mistake, I learned from it. Now as I look back, I
can see that while I made a little money on those
first few good deals, the knowledge I gained from
the bad deals has made me far more."
To Order On PayPals Secure Server Click The Buy Now
Button
|
