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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How to Make Money Buying Selling Used Cars (5 Steps)

Search your local area for used cars in working condition. Craigslist, eBay and the classified section of the newspaper often list cars 'for sale by owner,' but also look for cars in the area with sale information posted on the windows.
Check the sale price of each car against the prices for similar cars at local used car lots or in car buyer's guides like Edmunds or the Kelley Blue Book. Take into account the car's current condition. Contact the buyer to inspect the car in person if he is selling it for as much as or less than it's worth.
Inspect the car for damage by looking over its exterior and interior and taking it for a test drive. Buy the car if there's minimal wear, or if you can fix any of the damage with the help of a car repair manual. Make sure that the repairs won't make the car cost more than you can reasonably sell it for.
Make the car appealing to potential buyers. Fix anything that's broken, wash the exterior and vacuum and polish the inside to make it appear like new. Don't attempt to deceive anyone about the car's age, but make it a less important factor in the buyer's mind.
Advertise the car in local classified ads, and on sites like eBay and Craigslist. State the color, make, model and year, and include photos to show the car's condition. List a sale price more than what you paid for the car, including repairs and cleaning, in order to make a profit.
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