The business of buying broken down cars to resell.

Niyi Briggs · Apr 21, 2023

hastral45 said:
Everybody knows about the lucrativeness of the business. The only odds here is how to start. The fact that it is a capital intensive business is what is driven some people away. They believed that you must have huge amounts of money before you could start. Little did they knew that, you could start the business without your own money.

I believe with half a million or 600k, one can start the business. You just buy one car at a time and fix it. You only buy another one after you sold out the previous one while building your capital base.

uptrendfinancialsignal · Apr 21, 2023

hastral45 said:
Everybody knows about the lucrativeness of the business. The only odds here is how to start. The fact that it is a capital intensive business is what is driven some people away. They believed that you must have huge amounts of money before you could start. Little did they knew that, you could start the business without your own money.

The major advantage of this type of business is that you would make huge profit from it.

Chibson · Apr 22, 2023

hastral45 said:
Everybody knows about the lucrativeness of the business. The only odds here is how to start. The fact that it is a capital intensive business is what is driven some people away. They believed that you must have huge amounts of money before you could start. Little did they knew that, you could start the business without your own money.

The business requires a lot of money and technical know-how. If you do not have
technical know-how of how to repair cars you will have to spend more money by hiring car mechanics.

Smalto · Apr 22, 2023

Springtime said:
This is indeed a lucrative business. But you need to have skills in car repair. I think other than buying and selling broken down cars and get them repaired for resale, there are businesses selling second hand cars. Those cars just need some minor fix and polishing. You don't need to spend a lot on repairing the cars but can sell them at a good price.

This is no doubt a very lucrative business, but one needs to properly acquire the skills and learn the hacks of the trade very well, in order to successfully venture into this nature of business and get profit.

Chibson · Apr 22, 2023

Learning the necessary skills required before going into a business is necessary. That is why I usually advise people to go through mentorship before venturing into a business.

Stardom22 · Apr 22, 2023

For me this business may be very profitable as the prices of the cars could be affordable to most people. So it's quite great business though a capital intensive one.

Chibson · Apr 22, 2023

Such cars are usually very much affordable and making a lot of money from such a business is for sure but of course you must invest a whole lot of money.

hastral45 · Apr 22, 2023

Chibson said:
The business requires a lot of money and technical know-how. If you do not have
technical know-how of how to repair cars you will have to spend more money by hiring car mechanics.

You don't necessarily need to have skill on how to repair vehicles before you can engage in this kind of business. You can refer repairmen of damaged vehicles to auto technicians whom you would paid for their services.

cherry123 · Apr 22, 2023

This business need a good amount of money you need to have the funds to set up a business and be able to buy broken cars which does not come cheap either

astutimeliana723 · Apr 22, 2023

Buying damaged cars to repair and resell is a very profitable business. Because damaged cars can usually be bought at very cheap prices, as long as we know the engine, and can estimate the costs incurred to repair it. Then we can get a fairly high profit from this business.

IB D · Apr 23, 2023

Most people I know doing this business don't even mind selling their personal cars as far as there is a profit. They know they can always get another one relatively easier.

uptrendfinancialsignal · Apr 23, 2023

IB D said:
Most people I know doing this business don't even mind selling their personal cars as far as there is a profit. They know they can always get another one relatively easier.

It is true! Because the business is very profitable and that is why they will do such.

Heatman · Apr 23, 2023

Niyi Briggs said:
First thing that you need in this business is a trusted mechanic who is very sound. If you can find that, then you are good to go with the business.

If you even have the skill of a mechanic to do the car repairs yourself, I believe that is even going to be better because you will make sure that everything works very well before you sell the vehicle. You will even save cost of paying another mechanic to do the job.

hastral45 · Apr 23, 2023

Heatman said:
If you even have the skill of a mechanic to do the car repairs yourself, I believe that is even going to be better because you will make sure that everything works very well before you sell the vehicle. You will even save cost of paying another mechanic to do the job.

Yes, being a mechanic has an advantage in the business. It would enable you to safe cost of repairment. There are some of the parts you would managed to repair. And your colleagues in panel beating and rewiring would assist you in their fields as well.

Chibson · Apr 23, 2023

hastral45 said:
You don't necessarily need to have skill on how to repair vehicles before you can engage in this kind of business. You can refer repairmen of damaged vehicles to auto technicians whom you would paid for their services.

That's true, but you need more money if you do not have the skills. If you have the skill you may not need a lot of money to get started.

nomad · Sep 8, 2024

Buying and selling cars is a huge business opportunities for those who have money. If you recondition cars before selling you can also get better offers

Starmix · Sep 8, 2024

It's a good money making strategy however, it's good to manage by a man not a woman. You must also one auto mechanic works.

Stardom22 · Sep 8, 2024

That business is very tricky because most cars used cars are very expensive and can result to losses when being resold.

King Belieal · Sep 9, 2024

A lot of young people are getting into the business of selling broken down cars and they are really doing well. Some even sell internationally.

Clandestine · Sep 12, 2024

The broken down cars are cheap and one would never lose with it. You can sell the parts or the whole car.

The business of buying broken down cars to resell.

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