How to Make Money in the Used

Visit your local Small Business Administration office to find out what legal steps you need to take before selling used cars in your area. It's best to handle these things first so you don't have to pay legal fees later.
Find used cars in your area to sell. Look for cars whose owners have written sale information on the windows as well as cars listed for sale in newspaper classifieds and on websites like eBay and Craigslist. Check a car guide like Edmunds or 'Kelley Blue Book' to make sure the owner is selling at or below the suggested price for the car in its current condition. Ensuring this, will increase your potential profit.
Contact sellers and arrange to meet and inspect their cars. Look over each car carefully to find any damage on the exterior and interior. Drive the car to check for strange noises, problems with the transmission and any other signs of excessive wear. Buy the car and title only if you can inexpensively repair the damage.
Restore the car to like-new condition. Use a repair manual to help fix any problems with the car's function. Mend tears in the interior, vacuum, polish the dashboard and wash the exterior. Don't attempt to deceive potential buyers by resetting the speedometer or otherwise lying, but make the car as attractive as possible.
Advertise the car in local classified ads and on sites like eBay and Craigslist. List a sale price that is more than the total of what you paid for the car and how much you spent to restore it. This is how you'll make a profit.
Respond to buyer inquiries immediately. The sooner you respond, the sooner you can make a profit and move on to buying more cars to sell. Invite the prospect to inspect the car as you did when you bought it, and point out the like-new condition and other positive aspects of the car.
Move the buying process along as quickly as possible to decrease the chance of the prospect changing his mind. For example, arrange to receive payment as soon as he says he wants to buy the car. Give the car title to the buyer after you receive the cash for the car.
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