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Is auto wholesaling buying a car a few hundred over what they paid for it at an auction or trade in?
21st December 2009
Then selling it fast for a 0 dollar profit or so?
Posted in: Auction FAQ | | Comments (3)
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There’s two ways of wholesaling. The first is when a sales manager at a dealership takes a car in on trade that he doesn’t want to keep. He calls some used car lots and wholesales it to the one with the highest bid.
Next is the actual person who goes to auctions and calls on sales managers at dealerships. He buys cars and resells them to other used car dealers or sells them on his own lot to the public.
Comment by insidebuy — December 21, 2009 @ 6:38 am
wholesale generally means buying and selling quantities to retailers
Comment by rockbase — December 21, 2009 @ 6:38 am
Yes, you buy wholesale at dealer auctions (must have dealer license) and sell for retail to make a profit. To be successful, you must know wholesale values and retail market values. You must also know how to judge the condition of cars by simply looking them over, but not driving them.
Comment by slowgoing — December 21, 2009 @ 6:38 am