Quote:
Originally Posted by Sylvanfan
Although I think you're on the right track to pick like an Escalade or Corvette. The higher the price, the higher your margin should be. I'm going to the bank tommorrow to get a HELOC and use it for this very thing!
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Beware. I dont know about Escalades, but I recently looked into Corvettes and there were 9 or 10 of them listed in that issue of the Autotrader. It was pretty obvious that at least 7 of them were people reselling US Vettes.
One of two things is going to happen. Either the resale value of used cars is going to drop (so you wont make very much), or people just wont be able to sell them (and you'll be keeping a corvette at a high interest rate). Afterall, who is going to buy a used Vette when they can go get a brand new one themselves from the US for less money. It is becoming common knowledge that the importation of new cars makes huge financial sense.
I was going to import and sell a Vette too, but decided against it for the time being. I'll see what situation exists next spring.