The Value Of cars, can you make money?

There is a lot of money to be made in cars that are smashed broken or need mechanical work. Now you do need skills and tools in these fields, body work and collision and mechanic work cross each other. Obviously, skills and knowledge are a big thing knowing what brands and parts to buy and experience. Obviously, the industry has changed in the last 10 years with all the electronics and sensors.

The difference between old cars and new cars?

Old cars are Obviously much simpler to work on its easy to obtain knowledge on the internet or on a video where new cars are trickier. A lot of the manufactures are not releasing their information on their new cars. The purpose is to make it proprietary for at least a few years or so. So, they can make their money. It's really a business. Also buying the sensors and computer and electronics can be very expensive.

How do you determine what to buy?

Every car is either popular or unpopular but there are enthusiasts. People who like a particular car. For instance, you have a group of people that like Hondas because you can interchange the motors and parts. Some cars are very popular among some people say a Honda Element. Not very expensive but worth something. Depending on mileage I would say six or seven thousand.

You also have collector cars some people like the Toyota Supra depending on the years very expensive.

How long do you hold them?

Most people only have a few thousand dollars saved to spend. I would say between $2000 and $4000. The more expensive a car becomes the longer you are going to hold it. Around $10000-$12000 Is when you start to hold longer.

Where if you could buy something for $1,000 and sell it for $6,000. Say you invested $2,000 in it. You made $3,000. You doubled your money. Always try to double your money or at least make a profit, sometimes you do lose some. Generally, on anything 10,000 and above will probably have to be financed by a bank.

In conclusion.

Always try to do your own research when you by something. If you don't feel good enough in your judgment. You can always take a mechanic with you. Always factor the cost of the parts if the airbags have deployed you are going to need an airbag computer. If there are certain cars that have weak transmissions or the engines ted to let go, try to avoid them. It never hurts to have a code reader. If you have the money,

get a scanner.