JoeyBalls

Hey fellas I read on here, and I was curious how it works, a car comes out, like the new M3, or the Skyline and someone gets in early and puts down lets say a $5,000 Deposit, they then find someone to pay them lets say $7,000, so they can buy the car and not have to wait around for months for the dealer to get the car, so the fella who first puts the money up makes a 2k, however if he cant find a buyer they are stuck into buying the car, which we all know loses something like 15-20% of its value when you drive it off the lot.

Anybody remember who did/does that here, is that like a Car brokering firm or what, just curious .

I think the guy here did it with an NSX and a GT3, of if I remember he was stuck with both and couldnt afford em or something?

espelirS2K

s4play does it.

I did it on a small scale, where I'd take repo and towed cars from tow lots (called lien[sp] sales).. and while it's not making $2k on a car.. you also aren't throwing down $5k either. Pay around $500 for a car.. put about $300 in to it, and then sell it for like $1500-2000 depending on the car. Like I said, a lot smaller scale, but you were almost guaranteed to double your money, as long as you got in good with the tow yards .

Aaron

JoeyBalls

interesting, have you ever bought cars with mechanical issues and fixed 'em and sold em, or did you stick with repos only? ...........Do you just call Tow yards or what, I think I would enjoy this, buy a car a little elbow grease and make a few bucks

Lien, like a lien on a house that type of thing?

So I just call some tow yards and ask em for any towed/throw away cars? How do you get the title of a car? Isnt it illegal to sell a car without a title?

Just the other day In the supermarker I remember seeing something similiar to an AUTO SHOPPER but it was for wrecked/broken cars I should grabbed it , I forget what it was called

espelirS2K

I dunno, I just helped a friend.. he dealt with all the paperwork and selling (most cars were out of oakland.. and the buyers were.. well.. ), and I just helped with money and working on the cars.

I have thought about it, in the past working on cars that don't run, etc., but the best deals are when you get in good with the tow yards and they can give you RUNNING cars for like $300. Do I tune up, maybe replace a shock, and then clean up the car, and sell it back for like $1100.

Again, not big money, but if you can push 1 car a week on the side, that's not too shabby.

Find a tow yard near you, ask if they do lien sales (again, don't quote me on the terminology) and start just befriending them.

Aaron

JoeyBalls

I hear ya thanks, you sell them back to the Tow yards/dealerships or privately?

espelirS2K

Privately

JoeyBalls

Ok I did some research it is not illegal per se to sell the car, however they won't be able to register the vehicle, seems in NJ if I can go to a tow yard and buy a leined car they have something called a Lein release that will enable me to go to the DMV and get a replacement Title, I am going to do some research when I get home, Im stuck in Mexico for now

espelirS2K

Yep! That's what we had to do. And then you get temp tags.. etc, etc. Off the record, for a few hundred less.. you can sell the car "as is" which in CA means no smog, no registration (just the temp tags the tow yard gives you), and then get it movin'.

STUCK in Mexico? Doubt it. I'm leaving for Mexico in a week

JoeyBalls

Do you happen to remember what the cost is for a new title?

I am in Leon, Mexico for work, then Monterry Mexico tomorrow, oh the life of a pilot

espelirS2K

I think it was like under $100 if I remember correctly.

And screw you.. I was going to be a pilot. But I'm color blind and can't pass the light gun .

Who/what do you fly(for)?