Today’s title is Flipping Cars – How Much To Price Your Car At in The Marketplace?
I get a lot of people asking how to determine how much they would sell their car for. A lot of people are getting hung up on that and are confused on how much they should price their car.
This is actually a question that most people should know if you went through the F1 AutoCashFormula VIP Program.
Check out the video as I show you my screen, get into Craigslist and go through the process.
I look to always click on ALL trucks and cars. Sometimes newbie owners post their cars in the dealer section. Now, that’s a golden nugget for you. J
Let’s look for a Toyota Camry. Here we have a 2009 Toyota Camry. This guy knows what he’s doing. The pictures are beautiful. He’s a dealer.
Let’s go to another one. Here’s a 2004 Toyota Camry selling at $3600 with 157,000 miles. Then, let’s say you bought the car, so the first thing you need to do is go to Kelley Blue Book.
You need to search the same type of car in KBB to check the Blue Book Value. When I buy cars, I like to buy it at the trade-in value or lower. Check out my video as I show this to you.
Now, you know the pricing. What I like to do is to retail the price because all the cars that I sell is in really good condition. There’s no retail pricing here for some reason.
Let’s say the retail pricing is $4700 at a dealer. If I sell this this, I would indicate, “Retail at $4950. Asking only $3750 OBO”. You’ll get $3500, assuming you’re in it for $2000. You’ll profit $1500.
This is a quick way to see the value of the car. Some people like to check the NADA, but 90% of the population don’t look at the NADA guide, instead they look at the Blue Book.
You can get the KBB app, check online or use the physical book. It is convenient to use the physical book because you just need to flip the pages, but I stopped using it since last year. I check the app instead.
Now, you need search and check the same car within your locality to see how much they are going for. You need to compare your car price versus the others selling it.
Check this one. 2004 Toyota Camry with only 72,000 miles. This is private party market and looks like a great deal. It’s priced at $4500 but if you can score this car for $3500, then that would be great. I actually think it’s priced a little low.
I hope you learned from this quick market research to know exactly where to sell in.
Hey, check out my daughter’s drawing. J Pretty cool, huh?
Auctions are really great place to make money but I advise newbies to get started in the private party market. It’s easier to negotiate prices and you can really inspect the cars unlike those at auctions.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. Don’t have the scarcity mindset. There’s more than enough for everybody. Have that abundant mentality that if you give, you’re going to get more.
I made another training 40-minute training video about telling everybody that you’re in the car business and you flip cars for profit. You need to get the word out.
Thanks everyone for joining me today. See you again next Tuesday at 9pm. Please Like, Share and Subscribe to my videos.
Cheers! Talk soon!
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