used car dealers..i need your help

[forged5.4dohc]

:beer:hey guys.im trying to start my own business,and i need some advice.

this is what im trying to do.i have a small(2 bay)shop at home and i would

like to form a llc,and get a used car dealers licence,and insurance.from here i

can get a auction licence to purchace cheap cars to flip.

i appreaceate any and all help on the best way to do this.like do i try to form

the llc online,or get an attorney to help.who has the best used dealer

insurance etc.im shure im forgetting something so if u have any advice,im all

ears.thanks in advance.:beer:

auction

 

[pho_phizzat]

i know a guy who was a teacher at a highschool, He did this very thing now he makes lots of money and retired form the school and maybe sells 1 or 2 cars month but makes good money off of them.

 

[RIO RED SNAKE]

many people can open up a llc online and it has worked for a few of my friends, my uncle when he opened his used car lot he had an attorney and he uses the same insurance co that he insures his car and house under i believe..hope that helps, PS itis getting ahrder to find good cars at the auction unless you have some serious clam, tons of over 200k miles junks but you can find osme nice one off lease but are too pricey unless you plan to offer financing...but ull b ok..just know what the people want..and if you get stuck with a car just remeber..

THERE IS AN ASS FOR EVERY SEAT!!

 

[spitin venom]

If you haven't been in the sales side of the car business I highly recommend you work at a dealership to learn more about the business. I am a used car manager at one of the largest volume dealers in the world and have been doing it for close to a decade and still learn new stuff all the time. It seems that right now the older/cheaper cars are selling like hotcakes. Whenever I get a 2003 or older Honda as a trade in we will sell it before it is safety checked and smogged. There is a lot invloved with selling cars. Make sure you follow the rules or else the DMV is going to rape you. DMV inspectors are
one of the worst authority figures you will ever deal with. They think they are a mix between Rambo, Chuck Norris, and 007. Good luck!

 

[CAPTAIN JACK]

venom is VERY correct...the average age of cars on the road today is 9.5 yrs.!... Junk is everywhere...auctions are no deal ...sometimes $2,000.00 over book. The cycle of trades has been drawn way out....I also sell new and used cars...DMV can be a hassle
and of course all the insurance coverage you must carry. Sorry to be negative...but you must have deep pockets and patience...good luck

 

[forged5.4dohc]

thanks guys.in the area i live in sub 3000$ cars sell easily,and i have a great location.im in the process of getting ins,but state farm(who i have my truck with)does not offer used dealer ins.

are there any big name ins companys that do?

p.s. i work as a tech at a nissan store,so i know the buisness a lil.

thanks for the replies

 

[lobra97]

i had thought about this too but was unsure of how to ask. i wanted soem info from TX peeps that do it. that or maybe partner up with somebody. my wife actually asked me "why don't you get into selling cars like part time while your finishing up school"?

 

[2k3gt]

First order of business might be to learn how to type and spell properly. You know, for contracts and such

 

[stangposse]

The most important thing in this business is knowing the market!!! Where to get the cars is secondary.

I can recall several years ago when Chevy Astro vans were trading for $4,000 over book value. Every tradesman alive was trying to get one. I took a pic of one that was for sale for $7k and offered it for sale to a plumber. He bought it from me for $9,500 after I bought it for $7k. It felt like taking candy from a baby..but everyone made out well.

 

[90goldtsiawd]

Lots of good info in here. This is a much harder market to get into now then it was in the past...

 

[lobra97]

First order of business might be to learn how to type and spell properly. You know, for contracts and such

they don't have F7 on contracts? damn! :beer::banana:

 

[Ironhand]

Dont forget to take into consideration any work that the car may need to sell it and have it last for a while. Nothing like getting a bad rep from selling really junk cars.

 

[spitin venom]

Dont forget to take into consideration any work that the car may need to sell it and have it last for a while. Nothing like getting a bad rep from selling really junk cars.

True! I spend A LOT of money reconditioning cars. Remember that buyers are liars and always complain. I have customers that have bought cars over 2 years ago yelling at me because their tires are bald and want me to replace them. In todays market everyone wants something for free whether it is tires after a couple years, brakes they fried, alignment because they nailed a curb, etc,etc,etc. Customers are super mooches nowadays and want you to pay for all their repairs. Used cars come with lots of heat.

 

[forged5.4dohc]

thanks guys