Here’s What To Do When You Find A Used Car Deal.
I have a VIP member in Australia who sent this ad and wants to buy it. He just emailed me real quick to ask for advice. Let’s check out the car on the ad.
It’s a 2003 Hyundai Elantra with manual transmission, very clean exterior, airconditioning, new tires and good paint. It drives well with 217,000 kilometers on it.
Looks like it needs a hubcap but that’s not a big deal at all and looks like it has a new battery.
It’s ready for registration with negotiable price at $990 and private seller. I’m guessing this is Australian dollars, but he’s saying he could sell it for $2500 to $3000.
I just did the conversion from Australian dollar to US dollar, so basically it’s $738 US dollars. That’s a really, really good deal.
It looks pretty good to me and looks like it’s in really good condition. The engine looks really clean. It looks like it could use a light detail.
All of that will come off pretty easily. I’ve taken the seats out in cars and basically power washed them down. I let them dry in the sun for a couple of days, it comes out really, really nice.
For the price, it looks really, really good. I would say, why not? Make them an offer and jump on it especially if you said you know somebody who would actually buy it.
You can polish up the headlights, do a little paint repair if you would like to, but it doesn’t look like it needs a lot, probably a good detail is about all it needs. Exterior, wash, wax, interior, full vacuum and redo the seats and stuff. Basically wash the seats out really good.
I would say jump on it. It looks like a pretty good deal to me. You would have to actually go there and inspect the car quickly and make sure it is what it is. Do a complete inspection on it, including mechanical. If it checks out, then jump on it.
The main things you need to check are if the tires are good, the brakes are good, check the oils and see if it leaks.
Make sure the A/C and the power windows work. When you go around the car, make sure it wasn’t in an accident, make sure it has a clean title.
Then do a quick test drive to see if it runs good. See if it pulls to a certain side or not, how the breaks feel, how the engine sounds and how the A/C blows.
As long as you know your basics and it looks good, jump on it or somebody else will. I’m sure you can easily make $1500-$2000 profit on this. This is car is a very good deal.
We’ll do a full tutorial video on car inspection in the next coming weeks.
Then let’s go on to negotiating. The seller is asking for $990, you never want to give them full price. You have negotiating room here. I would give him lowball offer. Think about how much you would offer.
I would maybe go down to $800. You always want to make your first offer a little lower than what you were actually thinking because they are going to come back and you’re going to meet midway.
Let’s say, you want to buy it for $850, you’d want to offer $800 and they’re probably going to come down to $900, and then you’ll say to meet halfway and close the deal at $850. You get it for what you really want to get it for.
Feel the seller out, come out with a number in your head and try to get it to where you actually wanted it to go anyway.
That’s the art of negotiation. I get a lot more into the art of negotiation in the VIP member’s area, but that’s just a quick tip.
Here’s a quick tip: Get them to agree at a price that you wanted in the first place. A good way to do that is to say, let’s meet in the middle, because you’re going to come up with a price, they’re going to come up with a price and you say, let’s close the deal in the middle.
It’s kind of common in the negotiating world with flipping cars for profit. It’s a little bit different with houses because the price is just so high. You’re just dealing with tens of thousands instead of just hundreds or a few thousands.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. I hope you enjoyed the video. Let me know what happens with the deal. I appreciate it.
If you want to learn more about flipping cars for profit, check out the F1 AutoCashFormula 2.0 Course – How To Buy And Sell Your Cars. I’m giving away a free report so grab yours now.
If you want to learn more in-depth information on flipping cars for profit, check out the F1 AutoCashFormula 2.0 VIP Course and start flipping cars in the private party market.
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