Buying Cars Wholesale
There are few important things you need to know if you are buying cars wholesale. Buying cars wholesale is very different from buying cars from dealer. This is because wholesale are those distributors who sell cars in dealer-only auctions. Wholesaler normally does not sell cars to the public. Therefore, things work differently and there are a few extra things you need to be familiar. Do not make a deal with a wholesaler before going through the essential guide and tips below.
How to Buy Cars Wholesale
In our complete car buying guide, we mentioned that buying cars wholesale is yet another way to save money. The biggest attraction of buying cars form wholesaler instead of normal dealer is the vehicle price. Wholesale price is often a lot cheaper than MSRP or average selling price in the market. However, it is vital to know what kind of cars you are buying, what the invoice should look like, and how to get the best deal with wholesaler near to you.
Step 1: Research, research, and research! Normally buying cars wholesale are vehicles that close to new cars, recent trade-ins or just off-lease cars. So, the first thing you need to know is the location of all wholesalers around you. The easiest way to get this information is to go online. Otherwise, you will need to do your research with car related magazines or newspaper.
Step 2: Once you have worked out a list of vehicle wholesalers around you, call and ask if they require a dealer license. A dealer license is a must for dealer-only auction in all states. Thus, it is recommended to get a dealer license in order to take part in dealer-only wholesale auctions if you plan to involve in car business. Alternatively, you can go through some auto auction car brokers if you want to buy cars wholesale but don’t prefer to get a dealer license. There are quite a number of proxy dealers who have access to wholesale auctions.
Step 3: Refer to What kind of car should I buy and list down the type of car you want to buy. Write down at least 10 different types of vehicles and make your list as flexible as possible.
Step 4: Go online and look for the average price for all your target vehicles. For example, you can check out Edmunds, Kelly Blue Book or NADAguides. They are the top 3 most recommended websites in the U.S.
Step 5: Now check online and locate the list of available cars. Write down the auction date, time and location once you have found the vehicle you want. See also things to consider when choosing the right car.
Step 6: Ready your cash as auto auction will require you to make a deposit in order to join the auction. Go for it if the price is right. Otherwise, on hold and wait for the next auction.
Tips for Buying Cars Wholesale
- Make sure you verify the payment terms and inspect the car before the auction begins.
- Start the car and see if there are any a weird sounds or unusual things.
- It is not recommended to buy a car that has been modified especially a car modified with custom bodykits.
- Check the exhaust for unusual smoke color. Pull the dipstick out and see if there is any water present. See how to inspect a used car before buying it for more details.
- Check the background of the proxy dealer before you decide to make a deal with them. Make sure they are reputable and won’t disappear after you make the payment.
The above-mentioned are a few important things you need to learn if you are buying cars wholesale. Going through an auto auction car broker is necessary for Dealer-Only auctions if you don’t have a dealer license. Keep all the important things in your mind and you should be able to buy a car at great discount price.
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