hey cory first off i want to say congrats for the hard work you are doing .if you work hard and have common sense and a strong back you will go far. .years ago i sold a ton of cars one year. alot came from auctions.back then junk was very low cars sold for 1.85 per hundred pounds. id get 10 for under 400 dollars most of the time. and if it was a smaller car i would charge for removal most of the time.ahh those were the days(NO COMPETITION) any how when you are reselling make sure you dont put the cars into your name before you sell them. im sure you are not cause it costs to make the titles and its easier to just get the old owner to sign the title and transfer it straight to the person you sell to.anyhow in Ohio you can only sell so many cars per year without a dealers license.they track this by the number of titles you have fixed at the courthouse .im not sure how many it is but if you go over you will have a big problem at tax time at least i did.it cost me around 4500 dollars by the time it was all over with that was counting fines and fees of course.they charged me an outrageous amount of taxes on the profit i made off every car,the problem didn't lie in the ones i actually resold ,it came from the ones i junked.since the ones i sold were all sold as 100 dollars each no matter what i sold them for that wasn't a big deal.the problem was for the ones i junked.since the titles were never transferred and i bought such a large amount they thought i was doing something illegal with them( at least thats the conclusion i came to ) long story short they charged me taxes on the difference in what i payed for the cars from the actual blue book value for every car that i had put in my name that i no longer owned i swear they charged me for the ink they wrote my bill up with and the stamp they used to mail it.i never thought it would cause me a problem at the time but the ones from the auction all went into my name i would get a title in my name about 2 weeks after i bought the car. now i junked 95 percent of them but none the less it was a recorded title transfer in my name,im not sure if it was because i bought the cars in another state or what..anyhow when i saw you say you have been buying from an impound lot i just wanted to let you know what happened to me.i don't want to come off as a know it all or anything like that. and im not trying to say it will happen or anything .id just hate to see the same thing happen to an up and coming power scrapper.well that's all i was wanting.i want to say good job one more time and wish you luck..scrap on little brother
Bookmarks