We’ll be talking about Flipping Cars for Profit? Why do you cover up the license plate number?
I get multiple questions every day and there’s one that stood out to me. The question was why I cover up the license plate number?
There are a number of reasons why. One is you don’t want to show your identity. People can look you up by your license plate number.
I made a lot of deals with people who blur out their plate or cover it up. They just don’t want to show their information out there. There’s nothing wrong with that. It’s may not necessarily mean that they’re hiding something. Sometimes I don’t show the plate number, yet on some occasions, I do.
On the other hand, some people hide their plate number because they’re flipping cars and the car is not under their name.
I wouldn’t rule out or disregard a deal just because the license plate is covered. When you’re buying a car, don’t let that bother you or make a big deal out of it.
Question: I have a 2010 Honda Civic rebuilt title that I’m having a hard time selling. Any advice? [10:30]
How much have you invested in it, what’s your asking price and how much are they going for in your area?
Like I said in the past, because it’s a salvage title car, you will have a harder time selling it. You’re going to have to lower your price a little bit.
Question: Have you ever bought a car that seem liked a good deal but wasn’t? [14:03]
Yes. It was a PT Cruiser. I bought it because I just wanted something different. I wanted to drive it. The guy was asking about $4500 and I paid $3900 for it.
It needed the quarter panel and bumper painted. It took me a day to do the body work and paint. He said the oil didn’t leak, but when I got home I found out it was leaking of oil. I was so excited to buy it that I didn’t check it before buying it.
I tried to sell it for about $4500 to $4800 but had difficulty, so it was only sold for about $430 and I just made a couple hundred bucks for it.
That was a while ago when I was just starting out. But, that’s fine. At times, you just have to basically take your losses and move on. I’ve never really lost money on a deal, but probably broke even a couple of times.
Question: Which one is best for advertising my cars? [16:04]
I like Craigslist and local PennySavers. Craigslist is going to give you the most eyeballs, but you need to be top posting.
Top posting is a strategy that I cover in the F1 AutoCashFormula VIP Program, so if you want to learn more, secure your slot now!
There’s so many posting their ads that yours will go lower down the list. You need to make sure that you post your ad every single day at a specific time to get top posting. I give you these time frames in the F1 Playbook.
The year range I like to go at is 10 to 13 years. It’s a good age range of cars to flip at. Also, people who are shopping for cars will have around $4000 to $6000 cash range.
Question: I saw an ad offering a carfax for $10 a pop. Is that legit? [20:56]
Yes, it’s probably legit because you can buy bulk for like 5 for $50 or something like that. That can be true. I think you can even buy annual subscriptions for unlimited carfaxes.
For those of you who want to start flipping cars in the private party market, grab your FREE Report from the website and start making income from buying and selling cars.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. Thanks for joining me today. I really appreciate it. Jump in again next Tuesday at 9pm Eastern.
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Talk soon! Cheers!
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