Turn-Key Opportunity! Positive cash flow from day one! This is an established (11 years) auto sales and finance company. It is an amazing opportunity to learn and prosper in the Auto sales and Finance Business. This tremendously profitable car and finance company, engages in the sales and financing of pre-owned automobiles and includes the current loan portfolio (Buy Here, Pay Here program). The price includes a proven business model, the “Buy Here Pay Here” Loan program, a loan portfolio (approx. $143,000, producing approx. $14,500/month in cash flow) and auto inventory (approx. $50,000). The business focuses on buying and selling a variety of in demand & below market vehicles (retailing for $3,000 to $8,000) that are available for cash purchase or on loan from the “in-house” financing program (at 29% interest!). The "Buy Here-Pay Here" program utilizes a GPS unit with an ignition shut-off feature to virtually eliminate delinquencies and defaults. The business sells vehicles that are optimal for family/personal car needs and/or for daily utility use. The company has an eleven year history of servicing this mostly ignored market niche, has generated many repeat customers that come back year after year, car after car, to upgrade. The company has a well-trained staff and manager in place. This is a tremendous opportunity to borrow capital at market rates (8%) buy Inventory, then Sell the Inventory for cash or to lend/finance at 29% interest!
The business is located in a booming Research Triangle Town. The business' retail vehicles are located on a paved and gravel lot with a brick building containing space for 3 to 4 associates. The property measures 0.7 acres in total. The rent is $950/month! The current use is "grandfathered" in, (Increasing barriers to entry). The Current owner chooses to keep approximately 20 vehicles on the lot, which has room for up to 50 if desired.
The Seller is a natural "Coach" that has been in the Auto business 30+ years, and looks forward to "coaching" the buyer in the "Art & Science" of the "pre-owned" auto sales business! This business model is extremely scalable and replicable. Growth can come by increasing the inventory and carrying more vehicles on the retail lot.. Also, this business model could easily be duplicated in many areas around the Triangle and the state. New owner could also increase “curb appeal” by touching up cosmetic factors on the lot such as better lighting and landscaping.
The Industry is in strong growth mode. As the price of new cars continues to skyrocket, these "affordable" and financeable vehicles are increasingly a necessity with little to no public transportation in the area. There are two similar businesses in the area, however customers are acquired via the internet and from 10 years of satisfied customers making repeat buys. Competition is for eyeballs online, less so, by similar nearby businesses.
The business owner is nearing retirement age and wishes to spend more time with family.
Will train for 4 weeks @ no cost The ability to acquire used vehicles for inventory (seller will teach/coach) A business license from the town in which the business is located in A Dealer license from the the DMV Business is pre-approved for acquisition financing Current business model is to buy and sell used cars in the $3K-$8K range that are fast moving makes and models.