Abstract: It is acknowledged to the whole world that cars are some kind of depreciating asset. A car may cost you $20,000 when you buy, but after some time it is only worth $17,000. A year later it is $13,500, and a few years later $3500 is its price. This is a common story for most cars.
The bad news is now we spend too much money on transportation and the cost of cars takes a great part. So today's topic is how to make money with cars. And please feel free to share your opinions with us in comment area.
A friend exactly told me that he had a truck which was only worth about 11k, but he sold it for $12,000. Then he bought another car at 3k and after driving for some time, he sold it for $3300. He, again, with the money he earned, bought another car for $1,800, and sold it for 3,ooo. How amazing, he earned so much so quick.
I have to say that I never really thought about doing this, but if you think about it, it is just what used car dealers do every day. With the "gotta-have-it-now" society we live in, you can bet that there are a lot of people who are willing to sell their car below the KBB value in order to sell it quickly.
So in the case of my friend, it looks like he spent a lot of time looking for great deals (I am sure he never paid too much for a car!) and used patience to make a profit then. I am going to have a try to see if I can also make some money in this way.
Do you ever have similar experience? If do, feel free to share it with us!
