Locating collectible cars could be as easy as going to an estate sale and buying a red Chevy for $1000 and discover it is a perfect Chevrolet Corvette.
The owner of the car and the estate seller may know nothing about the car.
Don’t believe it?
Well, it still happens.
There may even be better deals in your own neighborhood.
Have you really been paying attention to the collectible cars in your area?
Is there a Ford Model T down the street just waiting for you to see the hidden potential under all of the dirt?
The fact is, every town across America, including yours, could be hiding truly collectible cars somewhere.
If you have a trained ‘eye’, you can spot them everywhere.
The next time you take a drive, be on the lookout for abandoned, classic cars.
You are now going to be constantly on the alert for a new collectible.
You will no longer just drive from place to place.
Every time you travel, you will be on a business venture.
When you see a collectible, check out who’s driving it, where it’s parked, contact information, etc.
For example, a few years ago, I drove down a street in a nearby town, not realizing how keen my collectible car vision is.
I saw a dusty, old, black antique car peeking out from underneath a dusty, white cover.
Without realizing it, I knew it was a collectible car; so my subconcious mind said “check it out.”
I have a passion for classic cars and once had a website named AtlantaAntiqueCarEnthusiast.com.
As a passionate hobbyist and collector, locating classic cars was my forte.
Other collectors were happy when I reached out for an interview and photos of their classic car collection.
That was when I discovered Atlanta has many classic car enthusiasts; and every car is priceless.
There are many classics of the early 70’s and antique cars rusting away in junk yards and on private property.
Don’t be shy about knocking on doors and making phone calls to check out a potential money maker you have spotted.
When it comes to buying low and selling high, you should have no qualms about approaching a home and inquiring about a vehicle.
Just do it with the utmost respect for the homeowner.
Courtesy and respect will get you a lot of information.
If the car is not for sale now, it may be next year when their money is tight or interest is lost.
The vehicle you’re interested in may well be in your garage sooner than later.
Also, the people you talk to may be able to give you a lead on similar vehicles in the area, so follow up on them, too.
When you approach people wearing clean clothes and have a courteous attitude, you will most likely profit from the meeting.
I live in a relatively small town in Georgia; yet the market here is great for collectible cars if you keep your eyes and ears open.
Check Craigslist daily to see if your next money maker is on there.
Is that ’63 Chevy on Craigslist just another junker or could it be one of the few factory lightweight racers produced?
Check out every possibility with a phone call.
If the car doesn’t pan out, maybe the owner knows of another car for sale that would be a good investment for you.
Every call you make or ad you read is a potential gold mine.
Get every bit of information you can about each vehicle you call about.
Get referrals and names.
Anything you can learn could lead you to the next collectible car deal.
Trust me, if you don’t check it out, someone else will.
Then you will hear about it later.
Don’t let this happen to you.
From now on, you will be the first person in your area checking out the money makers and banking money from your efforts.
Before long, you will start seeing ’68 Impalas, ’58 Chevys and 72′ Chargers for sale in your area alone.
By the end of the year, you will know which ones are able to make you money, and which ones to leave for less informed buyers.
Case in point, if you see a Craigslist ad for: ’62 Corvette, restored, MUST SELL, $10,000; and you hesitate for a day to do research then call; what do you think happened?
Right, the car is gone!
Let that be a lesson and move on to the next deal.
Rural Money Idea: Place your own ad in the classic car and antique section. For example: Wanted to buy older car with V-8 engine, must be in excellent condition. This will produce various responses covering a wide range of makes and models. The people that call you may not know what they have.
By using this type of Craigslist ad, you are searching out the cars that might be stuffed in garages, stored in barns, or hidden in alleys.
The idea is to check out all leads and evaluate each for profit potential.
When people call you about their cars, you should be as honest as possible with them.
You don’t need to tell them that you want to profit from their car because that will drive the price up.
What you can tell them is:
All are true.
Remember, don’t seem excited or anxious when buying a car.
That will give the seller the edge.
You want to be calm, courteous, and relaxed about the purchase.
That’s how all savvy collectors do it!
Write your ads as simple as possible with no indication of your intentions.
If you ad states that you are looking for a 1957 Convertible, the seller knows you will pay a premium price for the car.
Leave those type of ads to the Barrons’s collectible car collectors willing to pay top dollar.
Your goal is to get a jump on your competition; so here is what to do:
As a result, you have read and evaluated the cars in your designated areas a full day before the copies are delivered throughout the entire local area.
The good buys are going to be easy for you to spot and cash in.
Be sure the seller knows your name and where you live.
Other buyers will show up and try to purchase ‘your’ vehicle at an increased price immediately after you bought it.
They will call the seller after you have, find the car gone, call you, and offer you an immediate profit.
If you think it’s worth it, sell it and take profit!
Have you ever spent an hour in a parking lot of a major shopping center or mall?
It would be a rarity if you couldn’t get a car or lead from merely watching people come and go in these parking lots.
If you see a car you like, casually approach the driver and make an inquiry about the car.
Has it been in the family long, mileage, engine, etc.?
Most people enjoy talking about the car they’re driving.
And if they’re not in a hurry, they will spend a couple of minutes talking to you about it.
If they seem interested in selling the car to you, make them an offer.
If a deal can be reached, you can then arrange to take the car to a mechanic and complete your evaluation.
If you can’t come to a selling price for the car, take their number and give them a call at a later time.
These cars may cost you a little more in the initial purchase because the owners are still using them for transportation.
You will have to give them a fair price; so be sure you can still make a profit at resale time.
Once you have established yourself as an expert in this business, you will be surprised at the number of people who will approach you and mention a car they have seen or heard about.
Both your friends and family will be keeping their eyes open for potential collectible vehicles for you.
If just your family and friends keep their eyes and ears open for you, the number of collectible cars coming your way could make your rich.
What better way to cover more area and get more leads?
Have them make it a point to ask questions about cars their friends are selling and pass this on to you.
Most people don’t know what a particular car is worth and would rather tell you about it than check it out themselves.
The possibility of locating a collectible car in reasonable condition in a salvage yard still exists.
Don’t neglect any area in your search for money making vehicles.
Remember, there are many ways to make money in this business; so explore every option.
As I stated, I once collected cars for fun and profit.
After I got tired of participating in the classic car shows, I started selling them, which was much more fun!
The last collectible car I sold was a ’63 Ford Falcon, 4-door, automatic.
I advertised it on a nationwide website and the buyer drove from Florida to see it.
They purchased it for my asking price and sent a transport truck to pick it up.
Buying and selling collectible cars is a highly lucrative business.
When looking or a salvage yard to search, keep your ears open.
You are looking for the out-of-the-way salvage yard.
This is the one only a few people know of or have heard of.
When you hear of one, follow up as soon as you would on a collectible car on Craigslist.
Once you locate the yard, you must get the owner’s permission to browse.
Some are willing to let you browse without a hassle.
Remember to be courteous and respectful.
Some owners don’t want you to browse without an escort due to insurance restrictions and theft.
Gain their confidence and become their friend.
Once you’re in and begin to browse, look for hidden treasures.
Keep your eyes open for familiar makes and colors.
Bring your research material and refer to it often.
You will be surprised at what you will find.
Take plenty of notes.
Check VIN and engine numbers.
Remember also that there are many people who will pay cash for certain vehicles irregardless of condition because they are restorers.
They will pay you cash for just locating the car for them.
You have invested nothing and gained a good deal of money for your explorations.
Wrecker driver’s are some of your best resources because they can give you information on collectible cars.
They are often called to storage sites to move cars.
Therefore, they come in contact with classic cars through their abilities to safely transport a person’s vehicle from place to place.
You should make it a point to establish a rapport with the drivers/owners in your area and profit with their help.
Often, wrecker drivers are expert mechanics and can also let you know the car’s condition.
The car owners are going to tell them information they may not want you to know, including how little cash they would take for their car.
Don’t forget to treat them, family and friends fairly because the better you treat them, car owners and buyers, the better your returns will be.
When people genuinely like you, you will get more leads, better deals, and more sales.
Take them to dinner, buy them thank you gifts, call them, anything to show that you appreciate what they do for you.
This will assure you a steady supply of vehicles and more profits.
Gift baskets for females work every time!
You can safely buy collectible cars in any area of the U.S.A. and make thousands of dollars on the resale of these cars.
When buying on a national level, you must be the first to locate the car at a good price, get the information from your spotter (family, friend, etc.).
For the average person, locating a car on a national level and getting it at a good price may seem an impossible task, but you can do it.
Remember my Ford Falcon that I sold on the national level?
Here’s how you do it.
The car owner has usually advertised the car as a “MUST SELL,” and you want to take advantage of that fact by ‘waiting’!
Yest, I said waiting.
This technique allows the seller time to reassess his asking price for the vehicle.
As time goes by the seller will soften and be willing to accept your offer.
Often the seller needs the money; and the sale of the car is an easy way to get it.
The seller may have too many vehicles, too many projects, or may be getting married, etc.
Another thing to remember is: You can try to reduce the buying price by telling the seller of your costs just to come look at the car.
Always tell the seller that must have their rock bottom price before you will consider traveling to their location.
Be sure to get their name and leave yours, establish a relationship, and become their friend.
A seller will give you a better deal if he feels close to you.
Even if a seller have better offers for a collectible car, they might sell it to you because they feel good about selling it to you.
Use your income tax refund for locating collectible cars, making deals, fixing them up, and flipping them for profit!