Buying tires the right way can be Flipping Genius
After six decades on this planet, I have learned at least a thing or two. One of the lessons that I am continually repeating, to whoever will listen, is “you make your money when you buy”. These days I am usually referring to used cars and real estate – but I have found this to be a universal truth in business. Another version of this advice that I am sold on is that “saving money is the same as making money”.
A listener to my podcast, recently sent an email asking what are the 5 best repairs he could make to improve his return on investment in used vehicles. As I began to make a list off the top of my head, one of my 5 items even actually surprised me. The other four were inexpensive fixes that I’ve done hundreds of times on vehicles over the years. However the fifth one can be fairly expensive. Buy new tires before you sell.
Since my used car business is targeted toward low cost, but dependable used vehicles, I spend as little as necessary to make the vehicles road ready and appealing. I find that new tires are an investment that meets both objectives. Worn tires are a safety risk for a variety of reasons. In addition to improving the vehicle’s drivability, new tires improve the appeal of a vehicle to prospective new owners. The key to buying tires is buying the proper tire at the right price.
Like just about everything today, tires can be purchased on-line more economically than ever before. I work with three top on-line tire suppliers to find the best price for the vehicle we are preparing to sell. These suppliers will ship the tires to the destination I select for installation. Turn around is usually a matter of 2 or 3 days. In the end, I find that the amount that I invest in new tires often improves my sale price by 25% to 50% more than I have spent on the tires!
On an upcoming episode of my Flipping Genius podcast, we will walk through our search for tires at three top on-line tire sellers. Our 2006 Suzuki Grand Vitara is due for a set of four, so I used it as a real life test model. If you have shopped for tires elsewhere lately, you may be shocked at what fantastic prices we found at all three resources.
Tire Rack, Discount Tire Direct and Tire America all offered great deals. However in the end one of them proved significantly less expensive for our test model. Just to be fair, we ran the test with a few more sample vehicles. Frankly, I was surprised by the results. To hear all the details, be sure to listen to episode #48 of the Flipping Genius podcast.
By the way, Tire America, Discount Tire Direct and Tire Rack are all proud affiliate partners of Flipping Genius. As such, when you link to them before purchasing, not only do you have an opportunity for additional savings – but these company’s help support small businesses like ours by sharing a small portion of their proceeds. I invite you to listen to all episodes of Flipping Genius wherever you listen to podcasts. You can listen to all of the episodes, read our show notes, access our Resources Page and watch our videos at www.FlippinGenius.com.
Randy Lee is the host of the Flipping Genius podcast. Lee is a long time Car Flipper and a licensed Master Dealer in the State of Alabama. In addition to Randy’s involvement selling used vehicles, he also operates numerous other ventures through his company Middle Man Enterprises. The Flipping Genius podcast can be heard on Apple, Spotify, Google, Amazon, iHeartRadio, Anchor and most other podcasting sources. Listeners also can experience direct results by joining one of the Flipping Genius Used Car Facebook Groups in over a dozen metropolitan areas nationwide. To learn more and benefit from Flipping Genius affiliate partner discounts and referrals, visit www.FlippinGenius.com. Ask questions & share your input at FlippingQuestions@gmail.com