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Selling used cars business?

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begginer Offline referral

Posts: 67
Joined: Apr 2014
Reputation: 0

#1
Member
Guys I am living next to a few used car dealers and I have noticed they have quite a bit traffic I am not sure how many cars they sell but they get lots of customers. Anyways this gave me an idea! I am thinking about opining or starting my own used car dealership and I have a few questions like:

What is the initial investment?
How many cars I can sell a month?
Where to get used cars for selling?
invisibe_dude Offline referral

Posts: 820
Joined: May 2013
Reputation: 24

#2
Posting Freak
If you have already a few used car dealerships in your area then this means that the competition is just too high and your used car business will fail think about it!
EnveraHost Offline referral

Posts: 11
Joined: May 2014
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#3
Junior Member
Yes the competition will be too high. You could however consider creating an online classified ad site.
vishal Offline referral

Posts: 21
Joined: Jun 2014
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#4
Junior Member
In this business you have much experience to deal and check the quality of a car then you can save your self from loss.
shirleyus Offline referral

Posts: 12
Joined: Sep 2015
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#5
Junior Member
it's a nice business
ChetanModi Offline referral

Posts: 96
Joined: Feb 2016
Reputation: 1

#6
Member
As car business make more benefits of websites and getting more valuable of websites.
sonam Offline referral

Banned

#7
Banned
It would take lot of new ideas to get going your business, try to do local promotion if possible to get sales.
alexhales Offline referral

Posts: 32
Joined: Jun 2016
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#8
Junior Member
it all depends on you either you want to compete already existing dealers in your area or you just want to setup a business
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Marina0403 Offline referral

Posts: 15
Joined: Jun 2016
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#9
Junior Member
Used Car Business Model
upscale used car image
Let me share the best used car business model I have ever seen with you. I was fortunate to be the service director and lead technician for one of the most clever used-car sales businesses in the NY Metro area.

In fact, I have never come across one quite like it to this day. I'll uncover why it succeeded and why it failed despite being successful. Keep in mind I've seen really good ideas like "Her First Car Lot" selling cars that appealed to young female drivers.

The dealership discussed here specialized in and only sold used upscale vehicles. They purchased all the cars at auctions to fill inventory as needed. The Owner would also acquire a few units from desperate people in over their heads. The lot also had one of those obligatory, we buy cars signs. This snared a few unsuspecting people once in a while.


The owner also had sales people scour local papers for private sale cars on slow days. He was famous in the area for offering a low ball cash now bailout offer. Sometimes it made people cry.

Armed with an ample amount of working capital he controlled the situation and was always willing to walk away from a deal. Any purchased automobiles were obtained far below wholesale prices.

These units were then reconditioned both internally and externally. Then resold well above retail value. I helped inspect and evaluate the cars before purchase. This provided the owner with an idea of how high he could go and still make a profit.

This isn't what made the used car business unique. The basis for making a profit in the car sale business hasn't changed in the last hundred years. You buy low and sell high. Although he did bring this skill to a new level, it wasn't what made him successful.





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