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How do second hand car traders make money?

How do second hand car dealers make money?

  • Answer:

    Just like anyone else makes money/profit; they buy low, and sell high! Primarily, second hand dealers are part of auction networks where you can bid on cars (repos, drug confiscations etc) and obtain them somewhat cheaply. They clean them up, and mark the price up tremendously. If the second hand dealer can arrange his own financing, (such as buy here pay here), then he can really do well because he can generally charge high interest rates!

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They usually purchase vehicles at auctions for a very inexpensive price (100$- 2,000$) from people that got their cars impounded for what ever reason and couldn't get their cars back out for what ever reason. They then sale them for ridiculous prices!

princess

You just asked this question. ASSAULT ASSAULT!!

RF

they buy a second hand car and sell it for more than what they paid for it

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