Adesa Auctions

[sonnyg403]

Just looking for approximate numbers or estimates on how much cars can be purchased there. I've asked a couple people that I know get their cars from there but no response. I'm interested in starting my own down the road in the automotive industry, but I'm still trying to figure lots of things out. Any help would be great.

[bobby_lu]

Set up your business and everything then you can go there and find out, do you just expect dealers to tell you how much they buy each car for? lol

[sonnyg403]

Yeah I know the dilemma there, but I don't want to jump into it. Just trying to find a rough estimate so I know what kind of numbers I'd be working with.

[bobby_lu]

You dont need much capital to get going, most of which wont even be exclusive to being an auto dealer. You will need to incorporate, get your amvic license, business license and bank accounts and stuff, and you will need to do these things no matter what part of the automotive industry you are in.

All the things I listed there do not cost that much money in the grand scheme of things. How much you make will depend on whether you broker deals or retail them, but mostly on volume.

[sonnyg403]

Yeah I've actually got some good advice from some people on here about what the things are needed to start up. And you're right but it's just something i'd feel much more confident about if I could predict what kind of income and outcome is needed.

[bobby_lu]

Nobody, unless you know some dealers personally will give you that information regarding the numbers and prices they are buying the cars for.. If you are just starting out, expect to make as little as a few hundred dollars on a car up to several thousand (of course largely based on the value the cars itself). The market is flooded right now so while dealers (like nbaker) are still making money, you couldn't expect to make a few thousand on a car right off the bat like they probably do.

[sonnyg403]

Yeah that makes sense, thanks

[Rowdy]

Just some words of advice......
I am a wholesaler/broker and have been for 6 years. There are a few others on here that are as well. The best word of advice I can give people is that buying cars to sell for profit is quite a bit different than just selling cars. Selling anything is a skill in itself. But getting into the buying game has a steep learning curve, no matter how much you think you know about vehicles.....trust me learning to evaluate used cars, and learning the tricks that occur to make vehicles look good for sale, learning what to buy and when, learning to not buy on emotion. Learning all these things takes time, and you can learn some very expensive lessons, when you have cars you paid to much for and no one wants. Most wholesalers learn the trade from the dealer level. Start in sales work their way into the sales managers role, and learn to buy from someone experienced, with someone elses money. Remarketing cars is very much about who you know, not just what you know or what you have. Remember this is very competitve and the prize is peoples incomes, so yes you really are jumping in the deep end with sharks. It can be a great way to make a living, but its not for everyone, and not for the feint of heart. Just because you love cars don't mistake that for thinking you know enough to start trying to buy them professionally. This is only my 2 cents, but if you think you want to get in the business, start where it doesn't cost you so much, and learn from guys that do it for a living.

Good luck to you.