Today’s topic is Negotiating Tips When Buying And Selling.
I am currently looking for a Lamborghini. I’ll document the entire process for you. I’m looking to buy within the $50,000 to $75,000 and not spend $100,000 on it.
I’m only going to buy it if it’s a steal, if it’s something under market value. If you paid too much for a car, something happens and you need to get rid of it, you will just break even or worse, lose money on it.
The number 1 rule in investing is to never lose money as stated by Warren Buffet himself.
I’m going to do a story when I do the Lambo project. It’s a story about how you can start off with a small amount of money and upgrade cars as you progress, wherein within a year or two, you’ll be driving a really nice car for yourself.
When negotiating deals, even if you think the car is priced right and is a good deal, you always need to put on a poker face. You cannot look excited.
You need to gripe about the little things, but not in naggy way. You to look disappointed about the little things and sound hesitant to buy it because of these.
With those little things you point out, you can lower the price. That’s how you play it. This is the game of negotiation.
Another good strategy is to make up a competitor. Compare his deal with another seller saying, “I’m looking at another car just like yours. It has higher mileage but it doesn’t have these issues.”
This makes them more enticed to sell the car to you and give you a better deal. It’s sneaky but it works. Then, as what I always say, you need to show up with cash so they would know that you’re a serious buyer.
I discuss more of these within the F1 AutoCashFormula VIP Course. There are so much more information that will benefit you as you go into flipping cars for profit.
Somebody requested me to do more live streams. I do flipping cars show every Wednesday at 9pm Eastern. The auto body show is every Thursday at 9pm Eastern and every other day is my Tube Cash Programs.
The third program is a different venture. It is more into business mindset, motivation and basically building online business.
I started out flipping cars for profit and saved a lot of money, built other business. Like what I learned, the average millionaire has seven streams of income. You have to grind while you’re still young.
Question: Do you still purchase cars that have been in an accident and have a clean title?
Yes, absolutely. If you can get a good deal on it and there’s no problem fixing the car, then go ahead.
Question: How can you do the poker face on phone deals?
You can only do so much on the phone. Serious buyers always take a look at the car. You never close deals on the phone unless you’re finalizing a sale. I hate it when people try to negotiate with me on the phone.
Question: I bought a 2003 Land Rover Discovery because of the bonehead gasket. I ran the VIN through my DMV site and it said the car was salvage but says nothing on the title itself.
That’s pretty interesting. If it doesn’t say that it was a salvage rebuilt on the title, then I would say anything. Just fix it up, do what you need to do and sell it. If your potential says anything, just tell him you didn’t know anything about it.
If it’s a salvage, it will usually say salvage rebuilt on the title. I don’t think you’re going to have real issues.
Be careful with scammers on Craigslist. There’s a lot out there. If it looks too good to be true, it probably is.
Question: Do you take bank checks from a seller? I almost got burned with it.
Only accept a certified bank check. I don’t take it if it isn’t.
Question: How do you deal with low ballers?
I usually don’t. They’re just wasting my time.
Question: I see a lot of dealers and curbstoners listing their deals within the private party.
Yes, you’re going to get that a lot. You just have to sift through each one. I bought cars from curbstoners and made profit just by writing better ads.
Question: How do you get your cars from A to B?
There’s a couple of methods. You can go with a friend or family member and drive it back or have it delivered. There’s another method where you can use some services and get free tows. I cover all of these methods within the F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars.
Question: Can I get a car at $500?
Absolutely. If you get a car for $500 to flip, then you should be getting $1000 to $1200 to sell. Then, move up from there. The sweet spot to play with is $2500 to $5000 to buy better cars and make more profit on a deal.
I have a $1000 to $10,000 game plan where you can start with $1000 and make $10,000 profit in five car flips or less.
That’s in the F1 AutoCashFormula Playbook that’s on sale right now. It’s the Playbook that I have within the VIP members area.
Question: Is it illegal to repair cars on the street?
I don’t think it is when you’re doing it in front of your house. But if you’re doing it consistently in some place, then the cops can say something about it.
I don’t think they’re going to put you in jail for that. The worst they could do is tell you to stop doing it or ask you to move.
It’s Tony from F1 AutoCashFormula 2.0 – How To Buy And Sell Your Cars. Thank you everyone for joining me today. Hope you can jump in same time next week, Wednesday at 9pm Eastern. Check out what my daughter has to say in the video! J
If you want to start out flipping cars for profits, don’t forget to grab your FREE Report and see if this is a great side business for you. Please Like, Share and Subscribe to my videos.
Keep on cranking, stay motivated and always keep your eyes on the prize!
Have a good night! Cheers! Talk soon!
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