Consider Selling Used Cars

[Joe Marconi]

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[ridgewayboss]

  Joe said:

New cars are not selling and people are keeping their cars longer. People will eventually need cars for themselves and/or children. They may not be in a position to purchase new. You have a distinct advantage, since your customers already trust you. Offering them a used car may be another way to add a few bucks to your bottom line.

HEY ALL FIRST POST SORRY ABOUT ALL CAPS MITCHELL LOOKS BETTER ON CAPS SO NOW I DO IT ALL THE TIME LOL

 

WE STARTED SELLING USED CARS AND SOLD 14 LAST WEEK WE HAD TO GET OUR DEALERS LICENSE LAST YEAR BUT WOW WHAT A HELP WHEN WE ARE SLOW THIS KEEP ME ALIVE AS A SHOP

 

 

BRYAN

KNOXVILLE TN

[xrac]

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[Joe Marconi]

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[Tom Ham AutoMN.info]

  Joe said:

New cars are not selling and people are keeping their cars longer. People will eventually need cars for themselves and/or children. They may not be in a position to purchase new. You have a distinct advantage, since your customers already trust you. Offering them a used car may be another way to add a few bucks to your bottom line.

 

Certainly a possibility. Used car prices have gone way up around here...as much as double on the very low end cars.

[autoguy]

  Tom Ham AutoMN.info said:

Certainly a possibility. Used car prices have gone way up around here...as much as double on the very low end cars.

 

Watch how many closed dealerships turn into used car super stores. Just heard it on the radio yesterday about one.

[Joe Marconi]

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[Jeff Monson]

  Joe said:

We started our use car business this. We started to pruchase cars and will market them on our web site. I will keep everyone informed.

 

Joe I'd like to hear how it goes, we are in our 3rd year of selling used cars, this last year has been tough though, cars are still selling but margins are way down, buying cars has been the real hard part, prices are way up at auctions in our part of the country. As a result margins go down, its a pretty simple concept, new car dealers are selling less, resulting in less used inventory for them, as a result they bring fewer autos to the auctions.

[xrac]

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[Joe Marconi]

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[Jeff Monson]

  Joe said:

We have so busy with the new facility that we have not devoted enough time to used cars. We have found that the $5000 to $7000 range sells the fastest. Over that people look for a cheap car or cheap lease.

 

Same on our lot, $5000 to $8000 are the best sellers, that price range for us is usually in the best gross range also. Ck out our website if you get some time, my partner in the auto sales does a really nice job of it

 

goldenruleautosales.com

[xrac]

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[Jeff Monson]

percentage wise I'd say 80% comes from auctions, (fargo, ND and minneapolis, MN) 10% from the private sector and the other 10% from trades. The trades and private are the nicest as you can drive them, ck them out at the shop and you can barter with the customer, where at the auctions you are at the mercy of other buyers, misrepresented cars, auction fees, transport fees...... the list is long.