Beneficent Big Oil has delivered another business opportunity! This time it’s big profits in compact packages–compact cars, that is. The little putt-putt’s I hate to see cut into my lane, the little eggs and cheese wedges on wheels that have become de rigueur for Bay Area treehuggers, are fast becoming all the rage for auto dealers and private sellers throughout the country.
According to the National Automobile Dealers Association (NADA), the price of compact cars is up 2% this past year. At the same time, the average sales price of all used cars is down 2.5%, with sales of full-size sport utility vehicles taking the deepest dive (sales prices of these vehicles are down 20%).
If you happen to be an auto dealer hawking full-size cars, get ready to take a bit of a bath, at least until you can beef up your inventory of used compact cars. And that’s no small feat given that auto dealers, private sellers and other dabblers are stalking auto auctions–online and offline–for these tiny gems.
If you’ve ever wanted to get into the sexy world of selling automobiles (I was once a participant in GM’s Minority Dealers program), now’s the time to get in. The average price of small cars is $9,478, though many of those listed on Craigslist, eBay Motors and other classified sites are going for an average of $5,000. Of course, if you’re a mechanic or mechanically inclined (or know a mechanic with whom you can strike a deal) you can get a break on cars that need work or don’t run.
You don’t need a license to sell a few cars, especially if they are your own. But, if you want to go big time and open your own enterprise, you’ll need a license. Check your state’s Department of Motor Vehicle (DMV) website for details (Read California’s requirements for dealers of used or wholesale cars).
To sell your newly acquired mini money-makers, post ads on Craigslist, eBay Motors, Deals on Wheels and The Shopper.
Related Posts
If you liked my post, feel free to subscribe to my rss feeds
Loading ...
