Flipping Cars 101 - How to buy at a Public Car Auction - Flying Wheels

hey so welcome to a public auction my name is craig from flying wheels and i'm always taking guys to a dealer auction alongside with me well today it's your turn i'm gonna go to a public auction that means anybody can go nothing is off limits you guys can come you guys can buy cars you can buy cars like the dealers do i'm going to show you how the whole process works we're going to see what they have for inventory out back who knows you might even buy one come along with me let's get going hey part of the interruption but i want to show you something it's the next day i sold two jeep wranglers yesterday tops down it was beautiful in new hampshire now look at this it's snowing we got a nor'easter all day i was actually in three feet of all day i was actually in three inches of slush right here it's insane and it's cold now while i'm interrupting you i want to talk about today's sponsor and give a special thanks to surfsharkvpn in the ocean of online content there's a lot of websites and 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marketplace or offer up on craigslist or even curbstone off the side of the road so if it's something you wanted to do you could do it so once we register we get a run list here is how everything works and they're all numbered then we get a run list with all the cars the year make model the mileage and what numbers they are in lane so you'll see right here this is number 23 it's a 2007 nissan pathfinder with 140 000 miles now you can see based on this bmw right here obviously they do have some rough choices we can see this saab as well that's a rough car but ugly is sometimes a good thing the uglier the better sometimes it gives me opportunity to get it cheaper and then fix it and make it beautiful and then resell it for a profit well i'm going to walk right down the lane and show you everything they have at public auctions you can see they have you can see they have some of the ugly some of the good some of the bad there's a little bit of everything here for everybody there's a lot of toyotas and a lot of hondas we even have a grand cherokee and obviously this grand cherokee needs work now let me tell you what that means well what that means is if you want to buy like the dealers do you have to assume liability nothing is perfect if you want perfect go pay for a perfect car from a car dealer if you want to score a deal you can come to the auction but plan on putting some money and time and effort into these cars they all need something they're not guaranteed to pass inspection they're not sold with a warranty so you don't really know what you're getting unless you go through it yourself which they allow now what do i mean by that okay take this f-150 for example we look at it we like it we decide we want to test drive it well we can go inside the auction we register we give them our driver's license and then they give us a key to this f-150 we can go through it we can check it out we can inspect it we can spend as much time as we want on this f-150 right here then when we're done with it after driving it we can return the key and get our driver's license back and ultimately you can do that with every car here as long as you're within the time frame that they give you now this jeep wrangler again is probably the perfect example of what you should expect not every time but this time at least so this one obviously has a blown shock this is probably an overland with an air ride suspension we're going to plan on having to purchase we're going to plan on having to purchase the fender flare on this side and replace whatever's wrong with the suspension to bring it back up but that's a great way to save some money because if the public's here and they're looking for a car for themselves they're probably not going to want to purchase that they're going to want to get into something that's just ride and drive and they can take home that one might be a great opportunity for us to buy get a great deal on and then take it home fix it and sell it for a profit this ford right here this f150 is another one so obviously it needs some work has some damage here i'm assuming that window doesn't work the big one is the rocker panels now they already replaced the cab corner with a plastic piece to cover the rot and you can see the rocker panels are starting to rust as well and the bed rails are pretty crusty and the reason they have these fender flares are because it's probably hiding some rust yeah i can see it under there it's pretty common in my region people cover the rusty wheel wells with plastic that way they pass inspection all it's doing is masking the damage it's not doing any repairs we have a chevy traverse honda crv we have a nissan maxima that has a broken bumper mazda 3s with a six-speed what's nice is they write six speed on the side so you're not obviously a lot of people don't know how to drive six speed manual transmissions anymore now not every vehicle needs work i'm here to find the ugly ones because the ugly ones are the ones i can fix up and i can resell but you'll see this land rover evoke behind me that's a really nice new car and it's probably gonna prove and it's probably gonna get a premium here now we're past the period where we can test drive cars but we can do a quick walk around and see how nice this car actually is smells a little musty and no one's really cleaned it up yet but that's auction cars for you this is what you get when you go to the auction a lot of people's misconceptions are that we just buy the cars perfect at the auction and we flip them for a profit and make tons of money that's not at all true if you follow my channel already first of all if you're not following my channel already subscribe down below if you are following my channel already you see how much work and effort we actually put into our cars we buy some really ugly cars some rough cars and cups and some cars that need work we fix them we clean them and then we make them perfect and sell them now most of these cars are sold by wholesale dealers meaning dealers can buy from dealer auctions then they clean them fix them and then they resell them here but it's a public auction meaning if you have cars and you are the public you can pay the auction to run your cars here as well now there's a couple ways to make money here if you aren't a dealer if you're a public if you're a public person looking to flip some cars a lot of wholesalers will buy cars at dealer auctions they'll fix them clean them and then they'll resell them here wholesale dealers can't sell to the public but the auction is licensed to sell to the public so they'll sell it to the auction the auction sells it to the public well that works for the consumer as well so if you're purchasing cars outside of the auction facebook offer up or curb stoners or whatever you're fixing them you're cleaning them you're selling them you can sell them here for a fee you can also buy a car here that's ugly fix it clean it and then resell it back here for a fee as well but keep in mind you have auction fees to buy them auction fees to sell them and they can add up so the auction's about to get started we've registered let's go inside and see if we can score any deals hey so there is one thing i want to talk about real quick www.startyourdealership.com this is a passion project i've been working on for a really really long time i'm teaching you how to get your dealer's license and how to start your dealership if you're not interested in that i also have a lesser course teaching you how to flip cars how to buy cars wholesale and how to sell them and make some serious cash as a side hobby if you're interested in either one it's almost ready to be released i'm putting everything i have into this wwe you can go register your email and get notifications for when it's ready go check it out the link down below so let's compare the deals here versus deals at a dealer auction i have my dealer app and i'm going to scan the vin on this car this is a 2011 grand cherokee with 144 000 miles i'm going to scan the vin and it will tell me about what i should pay as a dealer and then we're going to see what it sells for here now my dealer app shows three owners one accident says i should be around 7 900 you can see the suspension has raised up on the driver's front so now it just needs that front fender flare at least that's what it looks like but we do know that the suspension has an issue too because we looked at it in advance so 900 will be my price as a dealer [Music] so here's the auction policy green late the selling dealer indicates that the motor and transmission is in good working order yellow light listen to any announcements the title mileage etc will be specified and red light is sold absolutely as is meaning you own it now you can see right here green lights the yellow light red light and blue light means title attached title me meaning title is not in-house now the green light right here is green light on engine and transmission for 24 hours after you purchase it right now the bit is at 6100 for that jeep dude and it says even as a dealer a licensed dealer i should be around 7 900 and it's at 6 000 right now now this one right here i've scanned the vin this is a nissan versa 2014 or 2013 nissan sensor with 112 000 miles i scan the vin i want to be under 2500 for it as a dealer let's see how it does at a public auction so they're at thirty one hundred dollars now thirty three hundred which is actually pretty fair considering me as a dealer would pay twenty five hundred dollars for it and it cost me a lot of money to have my dealer's license so now you're talking a thousand dollars more i would mark that car up far more than that if i was going to sell that retail that car sold for 3 900 as a dealer had i had a one owner 2013 center i would absolutely sell that for five grand so they got a great deal here but the thing is i'm not here and you're not here to buy clean cars that car got a good amount of money we want to find some deals we want to get some scores so we have to buy some ugly cars that car was too nice to expect to get a great great deal on it now just to put in perspective this is a 2011 honda accord with 154 000 miles i just sold a 2011 honda accord to another dealer wholesale for 4 300. so it's at 4 200 now it's at 4 100. so it's actually going to sell cheaper here than i sold it wholesale to another dealer that is it that is the interstate car solutions auction it's a public auction these public auctions are all over the country so depending on where you live look it up go check them out i mean if you don't have a dealer's license what choice do you have anyway you buy on you buy somewhat you got to buy somewhere so it's worth checking out go take a look at your local public auctions and see we can come up with you're gonna have to title them in your name you're gonna have to pay your sales tax and keep in mind you're buying them wholesale so expect repairs but as long as you're buying with the green light they guarantee the engine and transmission for 24 hours so make sure to take the car out and then drive it that way you know what you're buying so for now i hope this video was helpful if it was do me a favor and give me a thumbs up so it boosts the algorithm and then helps boost my video if you haven't subscribed yet make sure to subscribe down below flying wheels i'll show you everything you need to know about either getting your dealer's license running a car dealership successfully successfully or maybe just making a little bit of money on the side i'll see you all later thanks for watching adios [Music] [Applause] [Music] you

Channel: Flying Wheels

Views: 51,648

Rating: 4.9612489 out of 5

Keywords: public car auction, dealer auction, dealer license, Car Auction, government auction, police siezure auction, flipping cars

Id: _yjjQM787e4

Length: 13min 12sec (792 seconds)

Published: Mon Apr 19 2021