How's our new Dealership doing after 3 months?
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- Опубликовано: 4 фев 2025
- it's been 3 months, 90 days, 2,160 hours, 129,600 minutes, 7,760,000 seconds since we started Mike's Car Store in Georgetown, Indiana. So, how are we doing so far? Here's our 3-month update for you.
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I am the owner of Mike's Car Store In Georgetown, In. We sell used cars near Louisville Ky and ship nationwide. we look forward to helping you. mikescarstore.com
Buying a Car Doesn't Have to Suck™
Love that you’re so transparent and you seem more humble and down to earth than I thought you were when you were at Bachman. Congratulations on pursuing your dream and much luck for continued success. Also I think that one of those inflatable arm flappers would bring a lot of attention to your store. Buying one doesn’t have to suck!!😜👍
Thanks so much for your awesome comment.
I have tons of respect for you branching off on your own to create an honest business. Best of luck going forward, hope your business continues to grow!
Mrs Chevy Dude has the best sweatshirt ever, Semper Fi
"I just want to tell you both, good luck. We're all counting on you." ;-)
Stop calling me Shirley
Over Macho Grande???? I'll never get over Macho Grande!!!!!
“Oh Stewardess, I speak Jive”
Love how transparent you try to be. I'd buy a car from you if I lived in your area.
Wishing you success, I totally understand the grind. Been at it almost 2 years as an independent dealer and we're growing. I know a ton of people don't like flooring, but I have to say that for us it has worked wonders. the way I look at it is my ROI. when you floor a vehicle you're only paying the 100 dollar fee or so to do it, the trick is you have to move that inventory fast, a little money beats no money. Start with smaller profits and repeat it over and over . if you floorplan a 14k car for 30 days is only really costing under 200 dollars, no real reason to put your cash, even huge companies use debt instead of cash.
Would love to share some insights from one independent to another.
As someone who has been in the independent side for 13+ years but just started a new venture with a great partner and a good friend in late 2020, you will never stop learning. Your enthusiasm will keep you through the challenging times. Great job so far and best of luck!
P.S. Very glad to hear you're not using floorplan. Seek a line of credit with your own bank or build steady and small and own your inventory. That is how we are. Next Gear, AFC, et al are worse than the mob; the mob wouldn't care exactly where your car is any given day. Stay sharp and stay away from floor!
Constantly surprised when I watch these videos - appreciate the transparency you have put out there. Keep it up - you will get to your goal of having your own franchise dealership, just don't forget us when you get there!
So happy for you guys. Nothing is better than going into business for yourselves and being able to spend everyday with your love ones. I would love to start a business with my wife. Congratulations on a great start 👏 👍
Too bad your dealership is not closer to NJ. But, enjoy seeing you and Mrs. Chevy dude build a great business
I have been a used car dealer for 16 years. The business have never been harder. There is money to be made but it is challenging to find inventory at reasonable prices.
Amen, We are having fun with the challenges and learning at the same time.
Love watching you guys. Rooting and praying for your continued success.
I have a 2014 Subaru Forester, in the Gerogetown area but 149k miles but also on a wait list for our new car to come in to replace it. Soon as it comes we will swing by you all first.
my family has owned small flooring business since 1978. It's never easy but nothing beats being your own boss 👍. Always be transparent online with reviews. Even if you get a crazy one. Kill them with kindness with a public reply and people will want to buy from you. Never be afraid to raise your margins! Good luck
Good luck my man. I'm currently shopping for a used Colorado and want to say thanks for the insight.
Buy a car trailer to take a car to or from the auction with just one of you. Also consider selling motorcycles as well
The trailer could also double as a sign
Great advice on the credit report stuff. Do not let them pull your credit unless you want to buy. Negotiate the deal the do the credit report. Don't buy on payments either. Mike tells it like it is. Listen to them.
well if you arent paying cash how will you pay for it? with a monthly payment. you cant negotiate a price if you not ready to buy. you buy with your credit and you pay with your income. we get paid to sell, not spending hours answering your dumb questions and driving every vehicle on the lot. shit or get off the pot.
It might look cool if the new sign was a projected banner that could shine to each side of a car you park on the front line/lawn. Make the displayed car glow day or night. "Great cars like this for sale HERE at Mike's Car Store where buying a car doesn't have to suck."
The best of luck to you. I Would recommend watching Flying Wheels channel to learn more about the used car business. When you started buying inventory on line, wasn't a good idea. You have to see, feel and smell what your getting into. Learn something everyday, Knowledge is Power.
We buy all out inventory online with no issue. It’s more about the right online auction and the right sellers
Cricket, corrugated board, and spray paint for your sign. I do event planning for local festivals, and we create all of our signs this way. You could also work with an Alibaba supplier to get a printed sign for a pretty good price.
Mike, just love your dogs. We had a 15 year old Staffordshire Terrier (English) with the same brindle colour as yours. Unfortunately, he developed an inoperable brain tumour in March last year and had to have him put down. He was my best mate and followed me everywhere - still havent been able to get over him. Hope your dogs stay fit and healthy, John from Australia
Good business points! Selling used cars seems like a lot of work. I flipped a few in my day and it was barely ever profitable lol.
Also, nice Mac office setup! Don’t see lots of dealers using Macs 💪
Security by obscurity.
Perseverance pays off. Keep at it! You're doing it for the right reasons!
I’m happy to bump into your channel! I don’t even know how I got here honestly lol… Just got my dealers license today and starting this business from scratch. Not a lot of experience… thanks for the good advices!
good luck.. wishing you guys a lot of success. be well.
Just found your channel. Glad you doing goo.
Great content. Oh and tell Ms. Chevy Dude she has a Corvette she doesn't need to get paid😄
23 Cars Sold and total Revenue $559,860.00 that is an Average Selling Price of $24,333.91 Minus average Wholesale purchase price of $$,$$$.00 and Restoration Cost of $$$.00 per vehicle and Lease of Building $,$$$.00 per month and probably no SALARY $$ per month Equals = OUT-OF-BUSINESS in less than a YEAR!
The sincerity in your videos is palpable. Kudos!
Look up Consumer Portfolio Services, Santander Auto Loans and Sierra Bank. I have those finance companies that had my loans in the past 10 years. Hopefully that helps you out.
Buy a car trailer to run stuff back/forth. Get a decent one thats easy to load and get the straps that hold the tires on. That way it makes loading/securing easily. You can use a 1/2 ton truck or SUV like a Tahoe to tow it with.
Hey Mike, I'm glad that you are doing great and you decided not to sell your C7. Yes, Corvette is in your blood. Keep up the great work!
Chevy sucks
@@bestprice1776 Time will tell. Let's find out with my 2022 C8 Stingray from Chevy Dude. So far so good. I love it. I had some problems with Mercedes in the past though.
Make a sign urself ..with a frame of treated lumber.nd stand however u design it in size..then slot the whole interior to slide in place.a black acrylic panel which will lool like.granite ..then stencil the name on it ..in an fronts lettering design ..or even better build up base for sign with very decorative stone block or stone nd build sign inside the stone work ..just sugestions on outside sign to have a draw to ur dealership that is permanent nd not just a cheesy metal sign
Love the videos! Wishing the best for the new business!
So cool you bring the dogs to the office!!
Best of luck you two honesty will win in the end
As Mrs Mike says slow and steady wins the race…! Rooting for you both
I’m with Ms. ChevyDude regarding the fly guys.
9 signatures on the wall of good sales experience of "Buying a Car Doesn't Have to Suck" out of 23 cars Sold is not a positive experience!!!
Mike, your arms need some color. My eyes hurtin😂😂😂😂 awesome to see your doing good!!
Secretary seems mean, Good luck! Rooting for you !
I think you guys are doing a wonderful job and maybe one day I could work for you all I can detail and I have a valid driver's license so I can pick up vehicles for you
Westlake is amazing. They are a full spectrum lender now, and with their dealer flooring program it’s a no brainer to not use them.
A guy here in Dayton ohio basically did the same thing 9 years ago. He now has 7 big brand dealerships and makes some funny commercials.
Really enjoy the videos, and good luck in the future. Semper Fi.
I am a small business owner. One day at a time with lots of patience. You will do fine. Signage is crazy expensive for sure.
I think the inflatables are a good idea. They catch the eye and draw attention. Especially since you are a new business. Otherwise people have no idea what’s going on there. I have my own business as well so I understand why you need them. I think mrs Chevy dude needs to rethink this one. 😁
That pup cracks me up 😂he always looks sad
I feel bad, I've went onto a franchise dealer site found the car I wanted and entered a credit app without calling. My intentions were to streamline to process as I knew it was in inventory. But I soon learned that they really wanted me in their office so they can slip their hands in my pocket and take more money when I wasn't looking. No one wants to sit in the sales office while the sales guy run back and forth from the finance office. LOL, I'm glad you all are honest. Need more of you guys.
How would they “take money when you aren’t looking”? You can run the numbers yourself, learn to use a damn calculator! And what makes you think that filling out the credit app without notifying anyone what car it’s even for will “streamline” the process?
@@coleg5578 You must be a car salesman and I managed to hurt your feelings! I'm extremely good with money and do not need your input to validate any thing! If you had even a little intelligence, it works like a pre approval, ya know, get approved before you buy. Either way, enjoy your career and I hope you have nice life Cole G!!
I know they're expensive, but a Led flashing sign would be a great investment.
I love the dynamic between you and your wife.
You guys are a cute couple, lol
Killer sweatshirt !
Much success to you guys
Some day I will buy a Vette from you
Love the video and best of luck n wishes to come true!
Best of Luck. I bought my 2017 Camaro ZL1 from Mike the Chevy Dude.
Do you still have it?
@@ChevyDude Yes, I love it. I have CSP doing mods on it, parts coming in May.
Good luck to you all 👍👍
Just one question having nothing to do with your cars … what electrician did you hire that installed all those wall outlets in your office at eye level instead of where they commonly are ?..
The vehicles people want are full size trucks and SUVs which are hard to get even for dealerships. You know the market is bad when a large dealership is selling a 2002 GMC Envoy SUV with a damaged bumper and someone was desperate enough to buy it.
Congratulations on the success, most of us consumers in the Midwest can't afford a car that costs more than 25k so I think you can really capitalize on that market focusing on reliable transportation for us working folks who are seeking a special car at a great price, for example any of the 3800 GM cars from the 90s and 2000s in good condition, personally I love to shop the dealerships who find unique stuff like special editions etc something no other dealer would have because so many of them are not car people they are just business people God Bless and all the best
?
90's ooh wee like those are going to catch top dollar??? Who is going to put in the work to make them showroom ready? 130 point inspection?? forget about it.
Semper Fi Mrs. Chevy Dude!
Glad you are keeping the c7
Keep up the great work you are doin great !
i think you gotta get your local pd involved for dealing w/ these professional timewaster trolls my man, best of luck with business as its gonna be picking up real soon
That smart to get off the floor plan if you can.
I'm kinda in the same place as you Mike been running my small store since November 2021 been a bit of a adventure since I'm my only employee
Wishing you both much success. Let those boxers out :) They are nice looking dogs :)
I’ve been in the car business a long time. I’ve seen a lot of used car lots fail so quickly because they think it’s easy. They think you go to the auction buy a cheap car, take it to the lot and sell it for a big profit. 😆. There is so much more to it. It’s fun but it takes A LOT of work to make it happen.
A lot of guys think they can get their license, fill the lot and get some $10/hr guy to babysit the lot while they hang out at the bar. Those guys are always gone in about a year.
Spot on!! So much more involved than just buying a cheap car and selling it. Those that dive in with little to no experience in the business find that out quickly!
Chevys dude’s problem big time he spent 20 years selling cars excellent but if you want to sell cars and no your industry you need to work in finance used car by management experience makes money that’s what you lack so take 10 grand from your Corvette sales and hire a guy that has that experience and learn under him make him a partner he’ll make your money where your wife can’t and you have the inability to get out on the street and make business happen.
Having Fly Guys is a MUST
The problem is you aren't wearing the requisite tweed jacked with elbow patches.
Mom is saying the right things, you both better get a REAL JOB!
Maybe if you could find a decorative metalworker nearby, that could make you a sign on a plasma table, it might cost less than $4,000. Not sure.
Doing awesome work sir! Keep it up.
When you find a 9 pass suburban or a 12 pass van I need one. The minivan no longer has enough seats.
Love the boxers.
Haha omg you said you wanted the inflatable guys and I instantly started looking up Al Harrington from Family guy and boom you played a clip.
This is awesome!! Can you find me a car thst isn't above msrp in my area? Lol
🔥🔥🔥 uploads Mike!! Love the hustle
Congrats again, and keep it up.
You should get the dog a dog bed
I like your guard dogs
Sounds like business is doing much better than your videos imply. I am happy to hear it. Post more videos about your successes and fewer of the sky is falling themed videos.
Well Mike your the one that loves being on 📷 camera. All that comes with being high profile my friend. Lol. Yall take care 🙂
Are you doing buying and selling on Back Lot?
You couldn't get me to buy a used car right now at these absurd prices. I'll stick with my 12 year old truck and keep socking cash away every month. Might be a year or two when the great crash comes but I'll be ready with cash in hand when things collapse.
(Heavy breathing) hhhhhhhhhhhhh hhhhhhh (whisper voice) is this chevy dude? 😆😆😆
Not a Chevy dude but I will subscribe. 😀
Good luck!
I wish I had the spare cash to send an inflatable tube man or two. 🤣
Serious Corvette buyers have the money and you can make a profit on it and you know that cars with a sizzle you can make money with not $150 just to let you know
What the hell does that comment mean?
@@TheEnd-eg6wq Corvettes are in-demand and will have a higher profit margin per transaction than the standard vehicles that they currently have in inventory.
@@MountainHobbler No shit, but the way he worded it, it made no sense.
@@TheEnd-eg6wq 🤣
When you get a franchise and sell new cars I’d definitely be interested in buying one from you.
Ms Chevy Dude remembers the Lion from how long ago? Sounds like you need to get the inflatables
Keep on kicking best of luck
I was gonna rush and buy my first car from a dealer in Arizona but I’m going to wait and buy from you guys don’t care because I know I won’t get ripped off or something buying from you if I gotta fly out and drive the car back it’d be cool actually also it’d test the car
Ahh thanks. We will definitely look forward to helping you
Chevy dude, What's wrong with your brindle boxers leg?
I see the Marine sweatshirt. Did either of you serve or is one of your kids serving?
I hate all those finance companies. Too many discount fees on every single deal and I felt bad even giving any deals to them knowing they're ripping off the customer.
Part of the reason why I got out of the industry. So glad I got out of the industry. I had my dealership for 8 years and simply got rid of it. 5 stars on Yelp and Google.
There's a lot of deals where I'd carry the paper myself and it makes sense especially if they're putting a big down payment
Look on amazon and eBay for the tubemen. Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay cheaper than $600.
Yes, when a customer submits a credit app and the dealer sends it to 3 banks or more, even if they qualified for the deal and signed with another bank, the banks that did not get the deal have to send a rejection letter to the customer! It's been that way for a very long time! Oh, and just so you know, it pisses the banks of when they approve and dont get the deal, they will actually cut you off if a certain percentage of the deals they approve are not contracted, so be careful...
You are correct that it pisses banks off when they don't get the deals, but it's only because of the cost of processing loan applications. Every time a dealer sends an app on the portal to the banks, the bank has to pay a fee to the app portal. That can run $20-30 each.
The notice you're referring to is called a Notice of Adverse Action. Prior to the 2008 financial crisis, they only had to send a notice if they turned down the loan. Now they have to send one if any of the terms are adverse....i.e. if their credit isn't good enough for the top tier, etc. No notice is required to be sent if the borrower qualifies for the lowest interest rate. But with that being said, it's a mostly automated process so not a big deal. But the fees paid to the Dealertracks and RouteOne's of the world? A REALLY big deal!
Seriously? You get those calls? damn people are such idiots these days. Keep it up tho..
Your sales will double once you get the wavy tube guy 😃
Good vid,keep the good work goin!! What happened to Cory looked like the puppy was limping on its back leg