How to Buy a Used Car (and Sell it for More Money Later!)
How did I learn so much about buying cars? One way was by making mistakes that I (and you) can learn from. When I was sixteen I wanted a Mustang. I only had about $300 saved up. I found one with cool racing stripes that was the year I wanted (1970). It needed engine work, but my close friend and his father had successfully fixed up his Ford Capri that he bought for a good price because it had been in a fire. They offered to help me with this one. What a mistake that purchase was! The three hundred I spent on the car was the cheapest part! Through the next couple years, I found out the car needed a new engine, the transmission rebuilt, new front brakes, major body work, interior work, electrical work, and more. I bought repair manuals and did all the work myself, recruiting help from friends along the way. At one point I had four friends -each with a different type of sander- working on my car one Saturday afternoon, so I could go out with them that night. I was determined to sand off all the old flaking paint (and those cool racing stripes unfortunately) that weekend. I don’t think I made it-but boy did all my friends look funny covered with green dust from sanding that car! By the time I graduated from High School, that Mustang did not bear any resemblance to the piece of junk I bought. And what a learning experience! I learned all about mechanics, body work, paint, performance, and being nickel and dime’d to death for parts. The experience I gained put me on the road to a career working with cars, working in several body shops, eventually owning my own high performance shop, and building a car myself (Cobra) from just a body and frame. Through the years I myself personally have owned (bought and sold), 3 Mustangs, 4 Corvettes, 4 VWs, 5 Hondas (3 Civics, 1 Accord, I Insight), 1 Toyota, a 280Z, an MGB, 3 International Scouts, 1 Land Rover, 1 Chevy S10 Pickup, 7 Ford Broncos, A BMW, A Firebird Formula 400, 2 Mazda RX7s, a ’56 Ford Pickup, a Dodge Indy Truck, a Ford Explorer, a Sunbeam Alpine, 1 Jeep Cherokee, A Chevy Blazer, and built my own Cobra from a body, frame, and 12 boxes of parts. You can add 17 motorcycles and about ten boats to the mix too. With one or two exceptions I have enjoyed and made money on all of them! And I'm still in my forties!