Starting a Used Car Dealership in 2022 ( Dealers license )
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- Опубликовано: 10 сен 2024
- We talk about starting a dealership in 2022 what to watch out for so you can be ready!!!
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How to Start a Dealer Licensing
How to Start a Rental Car/ Exotic Rental Car
How to Start a Auto Repair Shop
How to Start a Auto Body Shop
How to Flip Cars for Extra Cash in 30 Days
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Most difficult aspect of starting a new dealer for me was moving vehicles fast enough to get ready to sell. Few things I highly recommend new people do is get a monthly subscription to a nearby drive through car wash, mine is 18/month unlimited washes and free vacuum makes a world of difference to not have to manually clean the outside of vehicles yourself and have vacuums at the ready. Another tip is definately to stick to a certain group of vehicles like Honda, Toyota, hynduia etc.... NO European vehicles! I'm a very skilled mechanic and even I avoid European headaches. One last thing (which is a problem I still work with) is don't shoot yourself in the foot trying to help people. They mainly just take advantage, now I just give them a good value and leave it at that. No more lowering down payments, extending payment dates etc.....
thanks for sharing. good info
Hi, I really want to start my own dealership. I would appreciate it if you could answer some questions for me if you don't mind.
@@dashkaj3832 sure thing what's up
@@Cryptosporidium-zu2sc I wanted to know the minimum neccessary to start a dealership and how you get the cars. Like I want a used car dealership. I am just trying to set up my future you know? I have way more questions but I want the starter questions
@@LuckyLopez777what’s a good lot to start a dealership in Vegas? I’m having trouble finding a lot to rent. Will I need to rent a warehouse?
Love this! As someone whos been at a Toyota dealership for 3 years working as a finance manager I can tell you the national study shows a customer visits on average 1.4 dealerships before they buy. That means all the shopping is done online these days. Happy to say I'm taking my courses Thursday to get my dealers license! Super excited to get my own dealership going!
nice good luck!
May i ask what state will you be licensed in and do you have any info or advice on how to get in to the classes and/or get my own dealers license?
Congrats! What state are you in?
@@Prestige.Automotive NC
How it is after 11 months?
I've been a dealer for one year, and I made alot of mistakes my first 4-6 months. Buying Audi's and BMW's...
I made up for those mistakes the last 6 months buying used pre-owned late model compact cars. Toyota, Hyundai, Honda, & Nissan ( well nissan doesn't sale that well for me).
Haha same here except I made the mistake of buying vehicles from manheim without checking them out personally. Just because they say it runs and drive doesn’t mean it doesn’t have a blown engine lol
@@ruanorafa wow sorry to hear that. They sell them without the transmission's here and say they run and drive.
@@bobsides5870 right I bought a run and drive "drove to 60mph" as the description car that ended up having a bad transmission slip. Learned that "drove to 60mph" does not necessarily mean "drove to 60mph with no issues" learned my lesson only cost me about 2k lol
Thanks for sharing 🙌.
the message here is think with your head , not with your heart. good advice
Here in LA, car business open next to each other because of grandfathered zoning, not because they want to steal from each other. In many cities if landlord changes land use to something else, they can never get dealership use again. In many other cities, especially newly developed ones, you have to plant a tree and a customer parking space for like every 3 lot spaces. Local government makes it rediculusly hard to get approved for dealer use.
Same in vegas. As soon as the dealer moves out the city changes the rules and no dealerships can go there after one license expires
Wow, how terrible you livei n the Communist State of my birth. Wall it wasnt that way in 1961 I'm told.. 🤪
How do dealers secure their lots?
Great video I’ve seen a lot of deals fear monger people who want to get in the business it all most stoped me and my wife but talking to a different dealership they told us if we have the cash and can do it we would be stupid not to
Go for it 😁👍
Lucky i think you are saving me years of experience throu these vids! you da man!
Thanks for watching 😁
Thank you for these videos... I'm building something here in MD and you're helping me a ton. Thanks boss
I’ve been waiting for a video like this!! Love your videos. I’ve always wanted to have my own dealer.
You should go for it 2022 is your year
Another great video about “start small”
You are an awesome human being 🙏
Thanks 😁
My buddy and I were just talking about this today. We have so many cars on Turo that I might as well be a dealer. I’ll be ready to upgrade my fleet this spring.
😁🙌
Dealers cannot rent their fleet. You have to still transfer the car into your name be pay taxes. Not worth it.
Congratulations! How do you store/track the cars?
@@MrKatstackz of course, the cars generate over $700/month. That’s what we do anyway. All cars are registered in my business name.
@@Ricocase we have a lot and a garage.
Michael Scott would say this video is Classy.
We have a dealer who wants to sell his building for $999,990 - it was like a 2/2 frame house with 2 garages Yet on Main Street and a tiny lot.Maybe get 6/8 out front. A small pen in the back that's decent size. The garages have very little room for a lift so that s out, unless you rebuild that part of the "House.". I think they guy is nuts. I see he's not running the ad any longer and yet the building is still semi-occupied. He has like 2-3 cars out front. I just laugh I see a 10,000 sq old dealership building in Houston, a HUGE Toyota Dealership place for sale as well as a 8,000 old hot rod customizer shop. All of them down in the high humidity of the Houston area. Meh Not a fan. What says you o#Lucky ?
Thank You Mr Lopez good material
thanks for watching
Got to book a call with you # Great content 👍
thanks 😁👍
Subscribed. Thank you so much for sharing this information!
I really like the bhph idea , the only issue when you’re new like me is that is hard to build you portfolio when you have limited funding but hopefully I can catch up on the income tax season . Good luck to the new dealers!!
BHPH 🙌
Yes, same here.
Great information Lucky. I am motivated for 2022
2022 💰💰💰
Lucky: Great Video very informative.
Thanks for watching!
Another Great Video 👏👏👏 Thanks for posting. 🙏
Thanks for watching 🙌
Good information Lucky like always.👍🏾
Thanks 😁👍
Great insights, Lucky! 👊🏽
Appreciate it!
Thanks for sharing! Great information 🤌🏽
Need the vid on the old school dealers who use their own money to buy cars and flip them.
I have a few videos on my channel talking about thst
I'm doing that, it's difficult but doable
@@Cryptosporidium-zu2sc what's difficult? Just scan and offer 10% less at auction, no?
@@Ricocase I don't ever go by the price by scanning, I choose which vehicles I want beforehand and search online to see what they sell for in my area on Facebook. And what I mean by "difficult" is that I don't have any floor plans or any loans I use my own cash, so I don't have a ton of money right now to buy up multiple vehicles but I will get there with time. If you just go by the price by scanning and shooting for around that number I personally don't think it is a good idea since your not really taking into account repairs at that point or if that particular vehicle sells in your general area. That's just my 2 cents, hell if it works for you then by all means keep at it lol
Good vid, thanks for the content
GREAT info my man ! 😎
Great information brother! Keep making the good 👍🏼 video contents ! 100% Approved ‘👌🏽👌🏽
When I started 30+ years ago buying and selling used cars was easy. I sold thousands of cars and trucks and did very well. I also watched 90% of the used car lots that started up go broke. When Manheim and Adesa came to Vegas and jacked up all the fees I think they ruined it for the small guys. The only way to make a million now in the used car business is start with two million!
so true
Eh not true actually
You can always make a million selling classes on "how to make a million"
Love it
Thank you
GOOD INFO...IM GETING ON BOARD
Great video! Thanks for all the good info!
How long is a normal amount of time to get a dealership rolling? Selling?
Great info 👍
A highly successful midwest-based company sells buy-here, pay-here with only $100. down and a two year/24,000 mile warranty. Is this common out west?
Non existent. Here in Vegas everybody has bad credit and is very transient if you were giving away cars for $100 you lose everything the Midwest people are more honest and they have regular jobs I have a friend in Texas it’s $1000 down and $100 a week and you could pick any car office lot
Golden 🔑
😎
I'm actually in the process of starting a Used Car Dealership in Vegas (Boulder Hwy to be exact) so my neighbors will be all the hookers. I have an office space and now I'm working on the paperwork to get my dealers license, I have zero idea what I'm doing when it comes to the DMV/Business paperwork. That's what's slowing me down.
Can you show how to finance people cars without any recourse to the dealer
When did they start making used car dealerships have handicap accessible bathrooms? I found a perfect spot but the bathroom was the only thing that stop me 😡😡
Same thing happened to me lol 😂
15K a month making candles maybe I ought to go in the candle business
I thought the same thing.
I told her she needs to start selling a class on how to make 15 K selling candles 🕯
Is the dealership course no longer available? I don’t see it on the website. I have the rental car course. I have my dealer’s license, and I want to learn as much as possible about owning a dealership. I have been following your content for a while.
Thank u for your video
Quick question
Can wholesale dealer buy cars from auctions and sell them to overseas/export them?
What are the laws/regulations?
Super duper awesome 👍
Gotta love the tweakers
🤣
Noticed ur course to get dealer lic but do u have a course for someone that already has a lic and wants to learn the trade? Getting the lic is easy but learning to stay in business is another lol
I bought the Rental Car Business Course. Inside that course like on his videos here he give you the information yet also drops bombs on the HOW TO's of business and how to do the business. Again I can only speak as a STUDENT of the RENTAL CAR BUNNIESS COURSE. If you asked me I'd schedule a call with #Lucky on the website AutomotiveLife.com and ask the man himself . You know man to man.
I usually recommend doing training. Or booking a call to go over everything we do 😁👍
@@bobsides5870 thanks for the in site👍🏼
@@LuckyLopez777 p]pp p
ppl
Do you have to get a dealers license for each state you want to buy cars from ? Or just one license you can buy cars from any state ?
Can you make a video about buy here pay here and how titling works I’m a dealer from ca
I dont do titling. all is done from my DMV clerk. i always recommend hiring one
(Smoke A) Boulder Highway
😁👍
Can you help me get a dealer license in NJ and how much will it cost
What about buying a franchise or becoming a dealer principal like climbing the executive dealership ?
Have you ever tried auctioning cars at your dealership?
yes. in NV you can only auction to dealers not to public.
Usedcar Dealership 😎
Yes!
LMAO! theres going to be alot of people dying out, said so casually
My big question is garage. We have been selling cars to lenders and looking to do more bhph but we also want to sell our service contracts and have our own garage with our dealership to collect the service contract payments.
In the perfect world you wanna have a dealership an auto repair shop and a car rental All in one location.
You can buy and sell the cars fixed them sell warranty and then charge them for a rental car. Lol
@@LuckyLopez777 aaa has to by my repair shop/sell paperwork spot w/discount. Which companies offer the best warranty cuts these days? How do dealers store cars (high real estate prices)?
Hey man, long term dealer here. Dads been in the game and done great. In house service collision and all. Looking to learn on how to get more banks to offer lending simple and easy. We do BHPH and never used a bank. He’s been doing smaller cars for the longest time. All self financed. How do I take it to the next level and start financing $25k+ cars similar to credit unions. We do have have Westlake but not many want to apply. How do I break out to the next level of sales and financing. We hold all contracts and don’t sell. Collect half down finance half Same as cash. No interest.
I can give you a little bit of information on here but I would definitely book a call 📞 because financing is tricky a lot of things go on the play everything from how many cars you have on your lot personal credit area your dealership is that all those things will play a factor usually if you want to do nicer vehicles with low interest you need to get cuddle which is credit union direct lending. It cost $1000 a month but totally worth it
@@LuckyLopez777 interesting. Thanks for replying. Just finished your video and my pops been doing what you said since 96’. We just don’t deal with high end cars or 25k plus cars like I mentioned. Good Credit in our area is 0 to none and only high end cars that we do get are sold cash or buyer finance only. Any thoughts?
@@fj7334 Sounds like your dad has a good thing going and set it up well. You have to ask yourself, why would somebody risk giving a 25k+ car to somebody with 0 to no credit?
Do you get tracking devices for buy here pay here?
Lucky can you please help me. I’m thinking of closing my dealership. I’m completely lost.
Looking to get some guidance do you offfer help?
YES you can book a call on our website.
Hey I just turned 22 in January and i run my own used car lot in DFW Texas. I want advice on running a tote the note. I’ve accomplished a finance license but I’m also running everything solo and find it hard to expand. I want to start toting notes on cheap cars but haven’t got any idea on systems. I’ve been working on finding mentors but haven’t been doing the best in finding the right one.
I started also at 22 im 25 now and have made alot of money in these 3 years i can definitely help you. I have made 300K in these early 3 years
@@nizmodadr3am883 mentor?
What’s the name of your dealership?
@@nizmodadr3am883what’s ur IG man want to help me?
Question do you have a dealership.???
Yes I used to have one for 10yrs.
Anyone who pays $30,000 and up for cars are fools!!!! Vehicles today are worth half their so-called value!!!!
What if we started with 12 cars on the lot average $10k price and now we are trying to get 20 units on the lot with a little higher tag around $15k is that a mistake?
Just as long as you have the banks that will help finance those vehicles then you should be fine and make sure you’re aggressive on Facebook marketing
Are you still doing personal consolations? I just had someone steal a Turo car, just want to make sure I do all the paperwork correctly so I get compensated if the car never returns. Lady rented a car in her name, then gave it to some guy without a license. I have the police report in, got the lady to confess her stupidity to the police, and I've got a long report from Turo's investigator I was assigned. I believe the officer reported it as actually stolen in his report, which should help the recovery process. I normally have trackers with shut offs installed, but this one was supposed to be installed today. This car and 2 other cars I just bought from a friend on a 3 month payment plan, so the car title isn't in my name yet. Registered and insured under my friend's name, so I just want to make sure I write a proper purchase agreement for whatever Turo requires. Also if I need to send a certified letter or anything else? This is my 1st time submitting a theft since I normally just repo using my trackers. Headache to deal with now, but good learning experience. It's a $15k car, so I definitely want to do it correctly.
Nevermind! Cops found the car :)
I hope you will be wrong again.