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Starting a used car dealership, thoughts/tips?
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Date: February 18th, 2020 2:36 PM Author: embarrassed to the bone legal warrant (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39613190) |
Date: February 18th, 2020 2:40 PM Author: comical pit puppy have sex with men for money (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39613207) |
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Date: February 18th, 2020 2:40 PM Author: dashing nursing home filthpig (marco rubio) (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39613208) |
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Date: February 18th, 2020 2:41 PM Author: Medicated vigorous school cafeteria dragon You can go a lot of ways:
- The most profitable are the ones that finance w/ usary rates and are good at repossession. GPS the cars and resell them over and over.
- If just buying / selling, I'd focus on super cheap but otherwise decently running cars that you pick up off individuals who need cash / don't want the hassle of spending much time to sell their car. Clean them up and put them on the lot for 2x+ what you paid, etc.
For a first timer, avoid auctions and trying to sell more expensive things unless you have a lot of capital and really know what the fuck you're doing. |
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Date: February 18th, 2020 2:43 PM Author: embarrassed to the bone legal warrant thanks bro
why avoid auctions? wholesale auctions seem like good deals for those with licenses |
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Date: February 18th, 2020 2:47 PM Author: Medicated vigorous school cafeteria dragon A lot of professional competition. Those people buy shit from auctions all day every day, you don't. You'll walk away paying close to wholesale "market".
As an alternative, check your local craigslist / nextdoor / etc and find people selling their 10yr old Honda that they've maintained but maybe has some cosmetic stuff that is minimized with a good detail. These people are not professional at car selling and cash + minimal hassle will get a big discount with them. |
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Date: February 18th, 2020 2:55 PM Author: embarrassed to the bone legal warrant yeah but how is that scalable
i gotta go test drive a bunch of people's 10 year old cars that likely have shit wrong with them
i'll be running around the city all day :( |
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Date: February 18th, 2020 10:47 PM Author: Medicated vigorous school cafeteria dragon Identify brands and models that sell well so you flip inventory quickly. Focus your search on those cars so you consistently know what to look for in terms of common problems / fixes. Get a read on buyers based on their ads and their pre-sale communication with you. Focus on affluent areas where time is valuable and people just want the car gone. Get good at all of the above and you'll be able to buy relatively efficiently without too many lemons and move product fast. (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39615584) |
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Date: February 19th, 2020 8:27 AM Author: embarrassed to the bone legal warrant got it, thanks.
u have experience running a dealership? |
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Date: February 19th, 2020 12:57 PM Author: Medicated vigorous school cafeteria dragon I'm a "car guy" so generally know people in this space. If you go to the Car Lounge on Vwvortex, there is a user named "Sold over Sticker" who used to be a very successful manager of a big dealership group in the Bay Area. He dishes out all kinds of advice on car buying / selling.
Also, I've considered doing what you're doing. You can go a couple of ways. 1.) Find a cheap lot to lease that has decent traffic going by it or 2.) Do what a lot of the Ebay sellers do, rent a small warehouse and part of it clean up / paint white so it's like a photography lightbox; clean cars + good pictures + a clean carfax and you'll move product.
You can make decent money being an honest broker but you can make a lot of money doing the usary lending / collections model; I just wouldn't want to be involved in the latter, as I'm not ((())). |
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Date: February 19th, 2020 2:48 PM Author: embarrassed to the bone legal warrant very helpful brother
possible to do the lending model without collections?
i feel like everyone is poor nowadays and you need to offer financing or people can't afford even a $10k car.
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Date: February 18th, 2020 2:58 PM Author: Vibrant Hot Temple Masturbator This is exactly right. I have a bro who has been in the car auction game for years. Those guys are pros. (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39613291) |
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Date: February 19th, 2020 3:00 PM Author: cheese-eating walnut tank orchestra pit Better ask ARE Reptile. He made millions from his. But he also had Gorsuch connections. (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39619071) |
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Date: February 19th, 2020 9:33 PM Author: embarrassed to the bone legal warrant wow! millions.
would appreciate mentorship |
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Date: February 19th, 2020 3:03 PM Author: massive spot roast beef Go ghetto and install cut-off timers on the cars. You make them physically come to the lot every month to pay the note and have their time extended. (http://www.autoadmit.com/thread.php?thread_id=4447853&forum_id=2#39619090) |