How my friend makes a living with old cars!

Soulwatcher Level 1

October 21, 2017, 6:16 pm

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How my friend makes a living with old cars!

I always see a lot of people asking how to make money around here. Well one of my friends but junk cars and parts them out on ebay. Say he buys a car for $1,500 by the time he parts out the car and sells everything on ebay he makes around $1,500+ profit.

And he makes around $70k a year doing it. He started with 1 car and now he has a garage and 2 guys working for him. The only thing about this business is you need a place to strip down the cars and a place to store the parts. I hope this info helps anyone looking to make money on the internet.

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tenthztar

tenthztar

Wow that is really inspiring, This just shows that anything is possible if you work hard for it. I had a dream of starting my own company and a office just like google. I won't stop until i make that dream come true someday.

7 years ago

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Barida

Barida

Hi, tenthztar.
I like your courage and determination in pushing to get better at doing things. I always tell my friends that with determination, there is no limit to what we can achieve and this has finally said a lot about that as well.

7 years ago

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gelotologist

gelotologist

I do agree, nothing is impossible and you just got love what you do and that would be the formula to success. And also, I do agree on what other people says, that you need to spend before you earn. I remember when I had a dream that being an artist someday not just because drawing arts are unique but also drawing it with your heart and your passion on it, is the best art you can probably do and nothing else can matched it.

7 years ago

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tenthztar

tenthztar

I agree, Investing on something you love or passionate with is never a waste of money. You have to risk things to gain new things, I learned a lot from buy and selling gadgets online at first i was hesitant but when you get over your fear of not earning money from it then you will always be afraid to try.

7 years ago

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Martinsx1

Martinsx1

Online shops have made a lot of things possible recently that one can seat in the comfort of one's home and make a good living with earning lots of money through sales with online stores.

7 years ago

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AmieBotella

AmieBotella

With your post, I remembered Mike Rowe's first episode on Returning the Favor where he visits a garage in Indiana who's owned by an army veteran that runs a therapeutic bike building program for veterans too. As I watch that webisode, I thought, this is a good business. You know, with salvaging scraps and rebuilding it. Just like what pimp my ride has been doing. When you have the skills to do it, this is one way of putting it to good use.

7 years ago

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overcast

overcast

I guess his business must be popular among the car repair people. And this means there can be a lot of customers. But I am guessing this falls into junkyard sales type business. If one has less space to store this then that may not be easy to do the business. I have seen people doing the business on the parts of the car and other stuff. And it does work out. Hopefully I can find something similar. Nice idea you have shared here.

7 years ago

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Martinsx1

Martinsx1

My family runs a car spare parts enterprise. We make lots of sales through direct sales to customers and mechanics who patronize our stocks. We are yet to take the business into selling online but it's seriously under good consideration and in no distant time, I believe a decision would be made on whether or not to take it to online sales as well.

7 years ago

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overcast

overcast

I think online is a good idea. That way you can have more customers around the world. And you can have more stock. So that type of investment of time and money is much better. Because you'd have consistent sales.

7 years ago

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Martinsx1

Martinsx1

I have actually made all these benefits of taking the family business to the next level of online operation to the Chairman of the board, who happens to be my father. I'm just the director of operations, so I'm waiting for his approval and things would kick off through online platforms as well.

7 years ago

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dzannerz

dzannerz

This such a wonderful inspiring story Ive heard. I mean out of from junk,out of nothing, he can actually make money. So as for me, if I could get time to do like this, I will. I will definitely do this.

7 years ago

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Tronia

Tronia

That's really amazing. I have heard similar stories before about how much profit people make with this type of business but again, I feel like before you go into it you do need some knowledge about cars that you're dealing with. I personally don't have a clue so if I'd even try to do this, I'd probably fail. I'd have to educate myself about the parts, pricing and so on. But good job for your mate!

7 years ago

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wiseagent

wiseagent

I agree with you, it's not just about having the cars... But understanding about them. That's why I think in the scenario as a whole, the collectors are the people who are most likely to deal with this type of situation (because I think knowledge is always something that should come first).

7 years ago

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anor0428

anor0428

Definitely. One must have knowledge on cars before starting this kind of business. Actually, even for the buyers, they should also have knowledge before they decide
buying parts or atleast have someone who knows about the parts and could test it for them.

7 years ago

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Keibah2

Keibah2

That is really cool and amazing as this is pretty common around here. There are people who solely deal on car Parts and make a good living out of.

I know a couple of mechanics who do this. When you take your car in for repairs so often that little or nothing can be done anymore, they buy the car from you at a token and then they dismember them. They begin selling them in parts and after sales, they end up with a whole lot more than they bargained for. That's cool business if you ask me.

7 years ago

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Barida

Barida

That's is how it is done and the good thing about this type of business is that those involved always sell at cheaper rates when compared to buying new spare parts from the market.

With time, they also become popular and that's how they consolidate their stay in this type of business.

7 years ago

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vinaya

vinaya

There are lots of ways to make money. However, you have to be very creative. You should do something that has not been done by many people. If you do the same thing to make money that numerous people are already doing, then making money is really hard.
Well, I have not thought about this idea, buying used cars and selling parts on ebay, however, a lot of people are already selling used car parts in my town.

7 years ago

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pandooh

pandooh

True. People are eyeing what's "in" to start a business not minding some other factors, too. Being resourceful is somehow a great factor in building a new business because first and foremost you can't guarantee that your business will always be successful.

7 years ago

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ballyhara

ballyhara

Last time I was in Usa was in 2015, and I stayed in Florida. I was amazed to see a lot of houses stuffed with car parts in the garage. This guys usually make garage sales, and they get rid of all those parts there. They sell them cheaper than the average, usually they fix them first, they offer to paint them or install them for a certain price. And yes, they make a lot of money buy doing that. As you said the only issue is they need a place big enough to save all those cars, parts, and mess.

7 years ago

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augusta

augusta

Yea,A lot of people makes money through selling fairly use parts of a car.I know of a man offline that buys bad cars and dismantled them and sell them in parts.He is a rich man now.People with cars are always looking out to buy one part or the other, so money is made from selling the parts.

7 years ago

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overcast

overcast

Yes OP seems to be referring to the same model of business. By dismantling and selling the usable parts, one can make some good output. Though not sure if one can be rich with this type of the sales. It just makes me wonder how good are some of such sales.It is in any case can't be that good. It may earn few dollars here and there. As not all old cars have good parts.

7 years ago

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Barida

Barida

That has got to show that your friend is really creative on how to earn income for not many will be ready to follow such steps when it comes to earning money online.

The business of selling car parts can be really profitable as long as it is done in a smart way where one buys an old car whose parts are still good for resell.

7 years ago

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anor0428

anor0428

Yes, I agree. So before starting this kind of business, one must have an excellent knowledge about cars. This wont put him in trouble selling the old parts of the car. We all know that when buying second hand stuff, you can be fooled if you do not know how to check it. This is very important before you start the business.

7 years ago

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anor0428

anor0428

Wow, that was really a good profit! What a bright idea from your friend. Never thought that selling parts of can make good profit than selling the whole car. This would require big money but with its profits it is really worth it. But I guess with this kind of business, one must have good knowledge about cars.

7 years ago

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Authord

Authord

Exactly, you need to be handy and at least know the A and B's of cars and their parts, to be able to make it in this type of business and the knowledge will also affect your bargaining power and prevent you from been scammed.

7 years ago

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anor0428

anor0428

Yup. So maybe having business on what you love to do, be it car , parts or other item, you should have knowledge about it. This could save you and help you be more comfortable
with your business. Maybe choose your expertise, hobby, things that you love or love to di when having a business.

7 years ago

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Authord

Authord

Yeah, that why it is advisable to go for the things you love and have interest in, because it does not only make your comfortable in it, it also makes you an authority in the field.

7 years ago

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overcast

overcast

Parts of cars, electronics, furniture definitely do sell a lot. Not a lot of people can afford the type of the complete new product. So many among them are going to resell the existing parts. And that can be something we all have to consider. I have found out that old cars can be good options for acquiring the new parts. And if those parts can be sold then profit can surely be acquired. So this is indeed a good options when it comes to selling stuff.

7 years ago

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jemuelterrado

jemuelterrado

Wow this such a very inspiring post. I am inspired by your friend and believes in his potential. I am saying that there are lots of ways on how you will earn money and we don't just notice it that it is in everywhere we are passing through. That amount of money is such a huge profit and it is unbelievable. Ebay is such a good partner. Here in the Philippines there is no chance when it comes to that kind of job because it will pay you only a little and there is no such ebay here in our country. Most of it is sold into junkshops only and thats the sad part for my fellow countrymen.

7 years ago

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tophew

tophew

Wow! this is amazing idea too, my father only buy's an old car then sell it, we are like buy and selling cars. but this method is also good thing i will tell this method to my dad to earn more extra cash in selling car parts.

7 years ago

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wiseagent

wiseagent

I think sometimes we need to read inspiring stories to get us interested in looking at the situation from other points of view, right?

This is so cool because it seems that our minds work better and things become clearer, haha!

7 years ago

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Steve5

Steve5

This is so interesting. It's cool that people can make a business out of selling old cars. I've seen others do this as well. It reminds me of the saying about trash being someone else's gold.

Like how being smart and creative with the use of your money can mean the difference between living a mediocre life and one with the most financial freedom.

7 years ago

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ColdFlameChris

ColdFlameChris

That's a great strategy and idea your friend come up with. Hope I know a lot of things about cars so I can also do what he can do to earn money. I'm still discovering my talent and skill to make a profit of it and hope that someday, I can earn as much as your friend did. Thanks for sharing this information. Have a nice day!

7 years ago

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Judas2018

Judas2018

This kind of income can be valuable depending on where you live. Some regions of the country have people who drive certain models of cars or have a penchant for older vehicles. Er go, they're always looking for old or classic car parts for their vehicle. It works if you target certain regions of the country for potential customers.

7 years ago

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jaymish

jaymish

Amazing business idea. Especially the fact that he sells the stuff on eBay. I tend to think that anything mechanical is a good idea. The number of cars in any country continues to increase. In my country, people actually steal cars and strip them for their parts.

What I love about this is that the idea can work both online and offline. What I'm not sure about is whether it would be profitable in all countries. In my country, for example, I'm not sure that buying the cars to strip would be cheap. That would mean you are unable to make a profit from the parts.

7 years ago

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Pixie06

Pixie06

This seems to be a really good way to make money. There are some people who actually do this in my country but they sell locally only. There are many people who sell their old and unusable car to those dealers. I guess that you can make more profit by selling online. This is something that I will love to try but I am not really good at it.

7 years ago

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wiseagent

wiseagent

This is really a great alternative to making money, especially considering the location where you are / live.

Some places / people value old cars in a way that we can't even imagine. It's really an "uncontrollable passion" (limited only by the bank account... haha).

Let's make the money rolls.

7 years ago

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wiseagent

wiseagent

The story is very inspiring.

I have a friend who has some old cars and he manages to make some money from it (especially when they hire him for exhibitions). But it's not enough to live on just that.

He has the collection for pleasure, the money he started to earn with it came as a consequence (a good one, obviously).

7 years ago

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saygorem

saygorem

Thanks to this post mate. You gave me an idea to earn money by stripping down old and rugged cars but the problem is we have to have a big garage and storage to put scraps and metals elswhere. This has so much potential and it can be easily done by finding persons whose interest are cars and automobile.

7 years ago

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Authord

Authord

That's really a cool business Idea he got there though, but I think that this kind of business is mostly dependent on the location of the person, who ventures into them. Because most people can't really pull of such business in their area or locale. Meanwhile nice business idea, it is all about been creative.

7 years ago

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wallet

wallet

I know about this business, it is true that this kind of business brings a huge profit. This job is not for everyone, you must know a lot of things about cars and mechanics. Here are a lot of this kind of places where we can find used cars and important pieces that drivers need.

7 years ago

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felabruno

felabruno

That's a great idea for a business if you know something about cars. I wouldn't be able to do that but if someone knows cars well and can invest some money fist for a car then it really can be a good source of income. Pieces of old cars are only going to be more expensive because there aren't many cars like that.

7 years ago

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manmad

manmad

Yeah, if there is creativity there is a way to earn money with literally everything and if you have the guts to do it, of course. You have a nice niche there and it's probably not a good idea to share it with everyone, not that you are the first to do it and that anyone else reading this is going to start doing it, however you know, competition isn't exactly what you'd want. It's cool that you are sharing your methods and inspiring people though.

7 years ago

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PedroP

PedroP

Seems like a good way to make money! Around here, however, cars are extremely expensive and if someone did manage to get something like that running the government would want his share too and that would make having profits really hard

7 years ago

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tiffiecute

tiffiecute

Yeah, I guess that's kind of a promising earning to try since it's uncommon to venture on with that kind of nature, but there are potential people out there buying such products.

For the vehicle and parts' hangout venue, I have this thought that you don't need to have one. You can go for a 'buy and sell' commission revenue deal wherein I'll sell your car online and get a certain percentage out of it once sold. That way, it would be easier.

7 years ago

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DenisP

DenisP

That is actually pretty brilliant. It never ceases to amaze me, the ideas that people come up with in order to make a solid living. It would seem that the possibilities for making money here are truly limitless, you just need some thought and maybe a bit of money to invest at first.

In my area, cars go for incredibly cheap so I would imagine it wouldn't be all that hard to turn over the parts and make a profit similar to how your friend does. My only problem is that I know absolutely nothing about cars so it would be kind of difficult starting out. If nothing else at least it's inspiration to think outside the box when it comes to making some money.

7 years ago

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pandooh

pandooh

This is a good example to motivate all of us here. It doesn't matter on how you do your business as long as you're doing it right, with passion and with the good strategies. It may seem to be a small business but you'll never know what's in it.

7 years ago

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jaymish

jaymish

@ DenisP you don't actually have to know anything about a business to operate one. I, for example, am loving this idea and am quite partial to it. I wouldn't strip cars and sell the parts, but I would absolutely love to own a garage and I know nothing about repairing cars.

The most important thing is your attitude. You can learn very fast. How complicated can it be? You can hire employees that know the business and learn the business at your own pace. As a leader, you simply need to know how to make decisions, leave the running of the business to middle managers

7 years ago

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DenisP

DenisP

"…you don't actually have to know anything about a business to operate one."

I suppose you're right, at least for the most part. I mean when you really think about it, there are plenty of CEOs out there who probably don't have a clue when it comes to the technical aspects of the products their companies make, and yet they are still the one's running them. I doubt Steve Jobs knew how to wire a circuit board for iPhones, or Elon Musk knows how to build a Tesla. That is what their engineers are for. Good point, my friend.

7 years ago

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Baburra

Baburra

Good idea, but I think you really need to have a good knowledge on cars to do this. I myself know absolutely nothing about cars or the parts so I don't think I could excel in a business like this. However, I don't think it would be impossible for me to learn as there are a lot of resources online already these days. I agree that it can be very profitable and I can see why since the people wanting to dispose of their old cars are probably just happy they are able to get some money out of the sale so they are almost just giving it away at that point.

7 years ago

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honeybabe

honeybabe

Yes it is really inspiring here in our country some are doing like that buying old cars and dismantled the parts and do buy and sell parts and there income somehow is good. Most of them have knowledge about car parts or a mechanic because they are familiar with car parts and they know how
things to be in good condition. They know how to in and outs. Doing any such
business should be hands on and have at least little knowledge about what
business you want and have really interest and happy what are you doing.

7 years ago

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potentialwriter

potentialwriter

In some parts of the world, people deal in the sale of used cars and make lots of cash from the business. This is most common in African parts of the world where poverty is the order of the day. Cars already parked to be demolished are transferred to those countries at token prices and used car dealers buy them and do a lot of refurbishments including painting for rebranding. prices are fixed anew and cars are sold anew to people who need them for commercial or private use.

7 years ago

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Happyflowerlady

Happyflowerlady

I can see where this would work out great if you are mechanically inclined and have both the space to strip down the car, as well as the necessary tools and equipment needed to do this work.
I have sold a few things on ebay, and I think that it is a good way to make some extra money as long as you have a niche that you know enough about to sell that item and price it correctly.
I have found some old books in thrift stores that were cheap enough to buy and then re-sell on ebay; but you have to either know what books were valuable or be able to look them up when you are at the store.
Some people sell used clothing on ebay, and that seems to sell pretty good, too; but I am not knowledgeable enough about brand names to know which ones are worth money.
I am definitely considering this again as a possible way to earn some extra money while still doing something that I enjoy.

7 years ago

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JoeMilford

JoeMilford

This sounds like a really cool idea. I would not be able to do it because I am illiterate when it comes to anything mechanical, and I am definitely no gearhead. My hat is off to anyone who can make lead into gold in a business like this. I can see exactly how this business model would be popular here in the south of America where I live. There are so many high school kids looking for cars when they get their licenses, so if you could sell to them with cheap prices and still make a profit, it would be a cinch! i would think that a business like this would also really grow through word-of-mouth advertising by loyal customers.

7 years ago

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DarthHazard

DarthHazard

Sounds like a really good business. The problem with this is that you tend to need to have a lot of experience with cars and know what you are doing so it's not for everyone. A $1,500 profit for each car sounds really good but I presume he needs to do quite a lot of cars to cover the costs of the place he strips the cars out at and to pay his employees as well. I know someone that does something quite similar but he does it the other way around, he buys broken down cars, fixes them up and then sells it on for profit.

7 years ago

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Blank629

Blank629

Buying old cars is a great way to earn money. For me it is a long term plan to be able to earn some money. Because there are people who loves old stuff. Maybe a collector is the appropriate term on them. Having old cars now is amazing because someday it will become vintage and many people will come at you to have it. So maybe an auction is the best way to sell it. But make sure first that your vintage car is famous in that time.

7 years ago

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treecko142

treecko142

Yeah, if you don't know much about cars, you can even do this strategy for pretty much everything for ebay, just look for good products when they are on sale during holiday for example, then sell them at a later date on another occasion for a slightly higher price and you can easily earn good money with this strategy.

7 years ago

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M1ndPrototype

M1ndPrototype

A great idea for earning money. This guy is really inspiring.

4 years ago

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TomSands

TomSands

Selling car parts can be a great idea for making money, but a lot of us would not be able to do this. I don't know the first thing about car parts, but I know that the prices of used cars are much higher than before, and there is money to be made on that. You can see from some articles on shipnts.com that used cars are being sold in online websites now, and you can start making money from this. If you have bought a used car for $1000 last year, it's worth at least $2000 now. It's strange, but that is the current state of the car market. You can really make money on old cars.

4 years ago

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AmandaSwon

AmandaSwon

In fact, this is a good thing, especially if he understands and knows old cars. Now there are parts supplier websites like https://www.eparrade.com/ that can help you find everything you need and get your car fully restored. Some of them can be very expensive.

3 years ago

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