#1743 - Q&A: How to profit from the wild used car market?
Side Hustle School
Chris Guillebeau
4.7 • 3.3K Ratings
🗓️ 9 October 2021
⏱️ ? minutes
🧾️ Download transcript
Summary
Used car prices are sky-high! If you’re not currently selling a car, is there any way to profit from markets like these?
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Email: team@sidehustleschool.com
Be on the show: SideHustleSchool.com/questions
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Visit Chris's main site: ChrisGuillebeau.com
Read A Year of Mental Health: yearofmentalhealth.com
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Transcript
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| 0:34.9 | I don't know if you have noticed or had attention in the news, but the used car market |
| 0:39.5 | continues to amaze. If you have been in the market for a car, especially a used car, |
| 0:45.1 | you may have found that it's quite difficult these days. So lots of interesting issues with |
| 0:50.6 | supply and demand, supply chain, so-called labor shortage, etc. It's just really contributed to |
| 0:57.4 | used cars being very expensive. So I was actually going to announce today that I am shutting down |
| 1:01.9 | the podcast to open a car lot in my backyard. But then I realized a few problems. |
| 1:07.2 | Number one, I don't have a backyard. Number two, I don't have a car. Number three, I don't actually |
| 1:12.8 | know anything about cars. I really don't like to drive. And number four, I don't like to talk on |
| 1:18.0 | the phone, which you probably have to do a good amount if you are a car dealer. So considering |
| 1:23.1 | all that data, I realized I should probably stick to podcasting and writing books. Still, |
| 1:27.5 | I do try to pay attention. And like you, I've seen these stories about new cars holding their |
| 1:32.7 | value long after they leave the lot, which never used to happen. It used to be like you drive the |
| 1:37.3 | car off the lot and you lose 30% of the value or more. And use cars selling for major premiums |
| 1:44.4 | all because of a nationwide shortage. So today's caller wants to know how can he profit from this |
... |
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