Considering Starting A Used Car Dealership

Consignment with a good locations is best way to go if you are just getting started. Most important, great website and listings on various lead providers with Craigslist being the best.
 
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I just inherited my late uncles 11yo outdated car dealership/auto repair shop with no employees that has about $30,000 total in inventory overhead is around $1100 monthly. I would rather broke vehicles than play the car sales game anyone have some auto broker tips?
 
Whats the best approach for auto consignment at a seller? I like that concept but don't know the procedure and legalities to it and hate to be unprofessional and seem untrustworthy! any info would help new to the car business
 
trushafty38 said:
just finished working for a car dealership. They sold used cars they bought at auction and were closing 10 sales a month and they have total revenue exceeding 1.2 million and they have only been in business two years.

They are the bank and they buy warrenty to cover trans and engine while they have their loans (max 3 years) no more than $300 a month (usually biweekly payments).

They litterally have like three places they get leads from . They buy some online, advertise in this local auto paper and bam 1.2 million (rev not profit)
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Did you mean 100 sales a month or just 10? Also, I have a dealer's license and sell cars I get from my towing contract with the City. However, I would like to know more about the business model you are talking about. Can you tell me how they are doing it in a little more detail? Thanks!
 
Funny how someone is on an IM site but has no idea what IM means.....
 
hi.imandrew said:
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.
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How's the business coming along? I am thinking of getting into this myself.
 
you gotta make sure ur buying the cars at a good price, and make sure u dont have to put any money into repairs or else its not gonna be worth it
 
da buck said:
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.
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I don't know anything about used car dealerships, but I live about 20 miles north of you, in Troy! ;) What a coincidence.
 
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