Do You Think Buying and Selling Cars Still Profitable Today?

[Trush Jodie]

I don't know if there is any business that can double the cost price of the products as much as dealing with cars

 

[Augusta]

it is still profitable
Being able to perform basic repairs and maintenance can significantly reduce costs and increase profit margins.

 

[Fidelia]

The good thing about selling cars is that the business is saturated. It is still very closed and one can make profits entering it.

 

[Augusta]

Yes but you need to know that it is capital intensive. When once there's money for the start off you can try to make a success of it

 

[oliver991]

Still profitable but you need cash behind you and the right cover. I buy and sell a few on the side here in the UK and the only way I could do it was getting set up with Traders Insurance for part-time motor trade. Keeps it above board. Margins aren’t massive but there’s still money in it if you buy smart.

 

[King Belieal]

I think that buying and reselling of used cars are more profitable than having to sell imported cars. People can easily afford to buy used cars than imported cars.

 

[Stardom22]

Of course that business is very much profitable but one must have an alternative business along with it because it takes some time to get some active buyers for cars nowadays.

 

[eLdavis]

It can still be profitable, especially if you know how to spot deals and what buyers want. Like you said, location matters a lot.

True, a relative of mine knows someone who is into this, and most times my relative also gets some percentage when he helps them sell, so it is a very lucrative business.