Considering Starting A Used Car Dealership

[hi.imandrew]

Startup will cost about $2500 and then $900 monthly.
Does anyone have any experience in this area? Is it hard to sell cars at this time? Any info will be appreaciated.

 

[angelas111]

i have been in the business for 8+ years now..................... if you have any questions let me know.

 

[PitchBlack*]

Make sure you hire a very good mechanic. He will be the lifeblood of your business. Location is also key.

 

[hi.imandrew]

My partner loves working on cars, my question, is there money in this? We're using money from our taxes to start this up, and the 900 a month to run will set us back quite a bit.

 

[breakaway]

Anything you need to know, just ask!

BTY, hello my salesmen friends!

 

[breakaway]

My partner loves working on cars, my question, is there money in this? We're using money from our taxes to start this up, and the 900 a month to run will set us back quite a bit.

There is a lot of money in selling cars as long as your not selling junk. Selling cars is not as easy as everyone thinks. Repeat business and refuels is your lifeline!

 

[BigMACK]

How are you going to get your first cars? Auction?

 

[hi.imandrew]

we own a few cars to start out with. we're also considering going to people currently selling their cars, and offering to put them on our lot for a small fee. once we have more money we will be going to auctions.

 

[moostangdude]

I come out of an small town auto sales background.

1. Don't sell junk, it will bite you in the a**

2. You make your money when you buy your cars, not when you sell them. If you buy your cars to high, you will go broke. A lot of people think they can sell any car they bought for a profit, they are wrong.

3. Are you putting together a "financing" or "note" lot? or is this a buyer financed situation?

 

[moostangdude]

Second thoughts:

Where are you at? In the States you need a dealer license.

 

[da buck]

I have been in the business for 10+ years as well. It can still be very profitable. Your start up costs seem very low though. Are you able to do the mechanical or body repairs yourself?

@angelas111 - where are you in Ohio? I'm in Dayton.

i have been in the business for 8+ years now..................... if you have any questions let me know.

 

[breakaway]

Second thoughts:

Where are you at? In the States you need a dealer license.

Yes a dealer license and a sales license + taxes + payroll and on and on!

 

[angelas111]

i am ready to get out of the business because it is highly stressful...............and i want my life back. i am very close to exceeding my income enough with IM to where i can do that.

 

[angelas111]

I have been in the business for 10+ years as well. It can still be very profitable. Your start up costs seem very low though. Are you able to do the mechanical or body repairs yourself?

@angelas111 - where are you in Ohio? I'm in Dayton.

youngstown

 

[hi.imandrew]

Yes we our working on getting our dealers license. That startup price is for the lot, business license, bond, and various other expenses. But there may still be more. So what I'm getting, is though it is alot of work, it is still a profitable business?

 

[angelas111]

Its highly profitable but its not worth my sanity though. I would much rather be doing full time im. I don't want to discourage you from doing it though. I think my problem is we became "too big". When we were smaller i liked it much better.

 

[angelas111]

Hit me up on skype sometime and we can chat. Skype: Angelas1113

 

[PitchBlack*]

My partner loves working on cars, my question, is there money in this? We're using money from our taxes to start this up, and the 900 a month to run will set us back quite a bit.

Theres money in anything if you do it right and work hard enough. What kind of answer are you expecting? Someone to tell you that you can make a million bucks? Sure if you try hard you can.

If its something you have a passion for , go and do it. Theres a risk in any business venture. Research your local market, talk to some experts, draw up a business plan, talk to accountants and judge for yourself if you will be profitable. Every dealership is different. It all depends on the current conditions in the market your trying to sell in. Your success depends on you.

Goodluck.

 

[hi.imandrew]

Hit me up on skype sometime and we can chat. Skype: Angelas1113

Added You.

Thanks for the replies guys. I understand it depends on how hard you choose to work, I just wanted a few opinions of experts.

 

[fiesta]

try to go for higher end used cars becasue the profit margins are higher and people looking for them have more money to spend

if you can also arrange financing for people you'll be rolling in dough