Auto Auctions? Worth it or not?

[2002XLT 5,000+ posts]

im not sure on the exact number but u can buy like 4 or 5 cars a year without having a dealer's license.

Thats not bad. i guess ill have to check my local laws. What all is needed for the dealer license?

 

[sdmtnbiker420 10+ year member]

I have a friend who does auctions for a living. He buys salvaged hondas, fixes them, and sells them.

There is money to be made if you have the time, and know which ones are good to buy.

I bought a salvaged 99 Civic Si for only $6k (theft recovery), dropped $2k into it to restore it, so $8k investment total. I drove it for 2 years and then resold it for $13500.

Some people actually PAY to own a car. I'd rather GET PAID to own a car! There's no better deal anywhere.

 

[CrispedUp 10+ year member]

Just curious if any of you guys go to auto auctions and pick up cars? Also, anybody know someone who buys and sells cars from the auctions? Ive heard there is a lot of money to be made, and ive also heard people that lose their *** doing it. So whats the deal?

my dads friend buys cars, and i assume he sells them since he has a dealers license.

 

[systemJLx 10+ year member]

Thats not bad. i guess ill have to check my local laws. What all is needed for the dealer license?

im not quite sure on what u need. i recommend going with someone who knows what they're doing and sort of pick up the trade on whats good or not.

my uncle picked up a lil work truck for his sons (my cousins) that was small so that they wouldnt waste as much gas driving up and down their mountain in north carolina (its like a 45 minute drive up the mountain). they got this shitty little truck (only shitty cuz it looked bad, but it was an old manual security truck that just didnt look good, but a low number of miles). they only paid $500 for it and its fun as hell to toy around in.