I’ve used this simple trick to make a profit on every car I’ve bought [Autohacker’s Digest]
Last edit: June 23 2024 • 322 view
Welcome to AutoHackers’ Weekly Digest – June 23, 2024
Every week, I share insights from running the salvage auto auction marketplace CARS4.BID. The goal of this digest is to help you avoid common mistakes when buying at auctions and assist you in purchasing your dream car at the best possible price!
When choosing a vehicle, choose the right trim. It is that important. Here is why.
I follow a general rule of thumb when picking a used car: less stock leads to better price retention among popular makes and models.
More inventory will diminish the value of the vehicle quicker, and you will compete on price only. Less inventory will make the car more desirable.
That’s why, when I was into flipping Dodge Chargers, I always favored the R/T Scat Pack and SRT 392. While it was $20,000 on average cheaper than the Hellcat, it was an amazing value, and lots of people were interested in it, as it was the next car to get before the Hellcat.
You see, the Hellcat brings attention to the brand, but 80% of sales happen in the Scat Pack and SRT 392 trims with 6.4L V8 engines.
This strategy worked well for me in personal vehicles and car flipping as well and you can copy my blueprint here.
How bidding at salvage auto auctions works
Kevin Trini, one of our customers, had a valid question today about how bidding works at CARS4.BID, and I thought it made sense to write a blog post about it. We do send an email explaining it, but sometimes it’s okay to repeat it a few times.
Again, salvage auto auctions are not like eBay; they have two phases: preliminary and live bidding.
We provide both, so check it out for more info in my new blog post here.
Do you finance a salvage car?
We get this question a lot: do we provide financing options? We do not, but we’ve worked with a few financial institutions that approve our customers. I’ve put together a list, so check it out here: Lightstream and Westlake auto loans.
I personally love financing options and leverage them in my personal life and business.
Cheapest buy of the week at CARS4.BID
Sold for $275! Retail price: $3,828
Minor front end damage, but again you cannot go wrong with a $275 car!
My choice of the week
1954 Chevrolet Bel Air. Sold for $4,300!
A classic American car that remains a beloved icon among classic car enthusiasts, symbolizing the golden era of American automobiles!
Yes, we sell classic cars, and you can find them following this link: Classic cars
$25 deal
2006 BMW X3 sold at IAAI just for $25!
Front end damage. Located in Hawaii. Run & drive condition and a very good deal.
Did you notice a lot of car deals happen in Hawaii?!
$50 deal
2007 VOLVO XC90 sold at Copart for $50.
Minor front damage. High mileage. But you cannot go wrong with $50 for a car!
$100 deal
2016 NISSAN ALTIMA sold at IAAI for $100.
Impossible, right?! Well, great deal happens daily!
Thank you for reading my digest, and have a great day!
Andrew AutoHacker
P.S. If you enjoyed my digest, you might also like my Facebook community of Autohackers. I share my knowledge there daily. My primary goal is to assist you in finding your dream car at a 50% discount. Join the community and benefit from the valuable information and insights I provide!
