LogFAQs > #934744024

wolfy42 posted...

Like I said, not everyone can do it, or it wouldn't work.

As far mobile homes, finding auctions is a gift, they happen, but it's hard to find em. You CAN buy low and sell high in every field though (even cars, without auctions).

I bought a 2012 Cherysler Town and Country mini van for $900 from someone who got it because they were owed money and they guy had no other way to pay. It's worth $3500-$5000. I had it fully checked out by a mechanic (I used to be able to do it myself but it's been too long) before purchasing it). This was not from an auction but from Facebook marketplace.

That was a GREAT deal, but there are tons of good ones where you can buy something low, and sell it high. Auctionn though are common near any major cities. Even if you have to drive a bit to get near that city, it can be worth the time, since the profit is large.

Auto-dealers/used car lots go to them all the time, that is who you compete against ....BUT ...they have about a $1000 mark up, due to having the lot etc, so they have to buy the cars for less basically. You can, usually, out bid them and still get a great deal.

Car insurance is based on the cost of the car (value), driving record etc, you shouldn't have to pay more then $50 unless you have a nice car (parents gave it to you or something) or your making payments on a car etc (already a bad idea if your making near min wage).

You can get a good, reliable car for $1k-3k, and the insurance on it is pretty cheap on them usually.

You can only buy them low if they're being sold for low. If not, then you're kind of out of luck. And they don't sell low where I live. The ones that do aren't that good, based on the people I know here who deal with them. The others are pretty expensive. We were looking through a bunch the other day. One guy was buying one to live in for a short time. All the cheap ones were kind of trash. All the good ones were expensive, and some were even close to the original price.

As for selling cars, just because you can get a good price doesn't mean everyone can. For example, if someone wanted that car, then they might just outbid you if they also go to that auction. And probably wouldn't pay you more unless there was a specific reason. Also, you have to be able to sell the car. And that can be hard if others in the area know the place. Also, you would have to be cheap enough that they would buy it from you instead of all the other sellers selling something for much cheaper. And you won't be able to BS the people around here. Most know a little about cars. And if they don't, they can find someone who does...

I'd rather have a new car and make payments knowing it'll get me from point A to point B. I've had new and used. And Used sucks up more money in a shorter amount of time, and over the longer period, as well. Constantly replacing stuff (especially harder to find and older parts), and having to get more checks and fix things often. Having problems more frequently than new. Things like that. In the end, I remember having to get my car fixed like 6 times in the last few months before it finally shit out. Had I had a new car, I could have just been making payments and not having a problem. I've had my current vehicle for 5 years. I've only had a problem with the battery as far as car issues go. And that was cheap. And it's only happened once, where I had to get multiple batteries for my used one, which I had for much less time... As for insurance, there's a lot more than age, sex, and crappy car or not that goes into it... Which means the price can raise high, even for good drivers. Things like location, job, and payment method can also affect things...

In the end, none of this matters because you actually have to have money to start it in the first place. And working paycheck to paycheck doesn't really allow that...
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