Automotive

anyone ever buy a car and resell it for a profit?

  • Last Updated:
  • Jul 30th, 2005 1:45 am
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Deal Addict
Mar 22, 2004
3800 posts
1275 upvotes
ah802 wrote:DragonZealot and romsan04 the law link is broken, but indeed there is legislation. If I remember correctly, if you register it in your name, you're allowed to flip up to 4 vehicles a year. That means taxes lic etc are expenses to add into the mix. I suggest offering a vehicle finder service... take digi pics etc and when you have a buyer on the hook, tell him the details for a fee.

To start your own use car business is quite expensive.
No person shall deal in motor vehicles or trailers, operate a used car lot or engage in the business of wrecking or dismantling of vehicles without having been licensed so to do by the Ministry in respect of each separate premises used by the person for the purpose of the business. R.S.O. 1990, c. H.8, s. 59 (1).

that
Deal Addict
Jan 2, 2004
1674 posts
4 upvotes
there is a law against home owning and condos as well, i believe you must own it for atleast a minimum of 3 months before you can turn it over.

As far as the topic here, yes u can do it, my friend does it all the time. but you do have to register the car in your name before you do it, if u dont' register it and just sell it, then it is curbsiding, if u register it, it is your car and you are free to do anything you want with it.
even dealers have to do this, that's why on the UVIP, you will see dealers registering the car and 2 weeks later, it goes to another dealer and then a couple days later, it goes to another dealer.
You can only sell something that legally belongs to you, before registering it, it does not legally belong to you even though you may have a bill of sale

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