I have a few questions I would love 2 ask you. First of all I would like 2 state thatI am a new independent dealer and this is my first time opening a car lot. I jus recieved my license maybe a few days ago. Now that I have everything in place I need some serious HEEEELLLP. I have no idea how 2 run a car lot. I know that sounds kinda strange but it’s the absolute truth. My main reason for getn into the carlot buissness was to be wholesale dealer, primarily selling to dealers at auctions, by traveling on the EAST COAST and purchasing 15 to 20 vehicles and then transporting them to the South for a higher profit margin. Now where the problem begins, is that so many people are requesting that I retail them a vehicle in which I am totally um prepared for. I plan on attended a dealership course but I Need some information now and I cant wait for the course. I have people callin who have their own financing options and I would love 2 sell them a vehicle but I have no idea what forms they need 2 fill out or how to calculate the tax on the vehicle. I also have no idea what software I need to run my business successfully.Like I said I need some serious help FASSST. I really could use a mentor in this car business. I don’t even know where I can purchase a Black book at. Ive seen the website but it has to be a place where I can go and purchase one with out waitin for the book to arrive in the mail. I am also interseted in the BHPH program and the selling papers option. So if anybody can please help me I will deeply and humbly appreciate it, Cause the lord knows I need it FAAAAST
Gutsy to say the least. You need some help, immediately or you will lose everything you have put up to date. I am an automobile consultant (I also work with BHPH dealers) and could certainly answer all your questions, but you need to talk with someone NOW before it is too late. Call me at 406-261-1313 (MST) and lets see if we can put a plan together to get you started and not lose your tail.
Automotive Business Consulting
There is soooooo much info that you need to learn that the curve might be to steep. I would hire someone that has the retail experience and let them handle the local sales and you keep doing the wholesaling. You can find someone to help you from this site. Good Luck
Jireh. Check us out at www.carbiz.com, click on the consulting button. We can help with retail, bhph and compliance. If you don't get help from us, get help from someone. Also check with you local/state independent auto dealers association. Dugan is right, you could lose everything very quickly.
I HAVE BEEN IN THE CAR BUSINESS FOR 28 YEARS AND I HAVE BEEN IN THE SPECIAL FINANCE END OF THE BUISNESS AS WELL AS ON THE OTHER SIDE OF THE FENCE. I AM FAMILIAR WITH CREDIT ACCEPTANCE AND BHPH.(DEALER FINANCE). I WILL GIVE YOU SOME ADVICE IF YOU NEED IT. I WOULD'NT WANT ANY ONE TO FAIL ION THE CAR BUSINESS.
Jireh, You should hire someone to manage your store who knows what they are doing. You have taxes, and doc stamps, you need to know how to do the tag work. You need the proper paper work for deals. There is so much. You need a good software program that can do all your dealer paper work and accounting.