mohammad, my pattern has been to buy & sell about a car a year - I've done this pretty much since I started driving. The motivation isn't to make money - it's more to try out different cars and learn about repairs & minor bodywork. I probably would have done it even if I only broke even.
Originally Posted by mohammad
So I don't have a special insurance policy and I don't need more than 1 set of plates.
I just watch for relatively cheap "as is" cars that don't (if I'm lucky) need too many repairs. Financially, I usually come out ahead, but I haven't made money on every single one. (I figure on average I've made about $700 per car.) Don't ask me my hourly wage. It's probably terrible.
But the end result is I've made a small amount of money in 3 decades of car ownership rather than spending a small fortune. EG. The money I made on my first 2 Mirages paid for my current one.
(The $800 Honda Fit that Mark mentioned ... I only owned it for a couple of months this year. That's unusual for me - the shortest I've ever owned a car.)
View my fuel log 2014 Mirage SE 1.2 manual: 64.5 mpg (US) ... 27.4 km/L ... 3.6 L/100 km ... 77.4 mpg (Imp)