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In Reply to: Thanks Lez & Greg for the support. posted by Kurt.G on October 28, 2000 at 21:50:10:
The advantages of the dealer is that you could buy cars for resale with regular title, while the downside is you need to invest more at the beginning and after that too since being a delaer you need surety bond, insurance, etc. Not that much though, I still work with my friends and we share the expense.
Insurance auctions are all over the country and they have nice and junk cars for sale. Many cars with "unrebuildable" title are very cheap especially since oktober 1. when an insurance company declares the car a total loss, they revoke the title so the car (junk) can not be exported and fixed. What we used to do is buy cars that has been totaled (not neccessary extensive damage, have you ever heard about insurance scams ?) and export them, fix them and resale them to the public. It used to be a good idea, not anymore... no title comes with a car therefore it can only be used as parts car, which is good for junk yards.
So the auctions are everywhere, I know at least 12 in my area but there is about 300 all over US. There are differences in areas like for example when you are close to a Mexican border, I bet the cheap cars are not as cheap anymore, since the demand is high for export cars. If you are in Ohio then the flood damage or export/parts only cars are worth pretty much nothing. Also the northern are cars are worth less then Florida, Texas, Arizona, etc. due to the rust problems.
But as anything else it can be done, and as I said earlier I was seriusly thinking about to create an 8 series only parts store. The idea was:
- I'm in a car parts business (export only this time, but can do the same locally)
- I have access to ins. auctions, so I could buy cars for parts
- have a lot of free time recently
all of this can be done, but my financial status has been suffering (stock market problems, strong USD, etc) so I put this idea away for a while...
If you guys think it can be done, then lets talk about it...
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