Consider hiring a real estate agent to assist you with locating a commercial property for your car lot. Purchase the initial vehicles for your lot. You can buy cars from individuals by placing ads in the paper or you can go to dealer auctions that sell cars at wholesale prices for those with dealer licenses.
Bring a mechanic with you before purchasing any car to ensure they are in good shape. Determine your criteria for approving your customers for vehicles. Consider employment, living situation and monthly income. Determine which interest rate you would like to charge for your customers to ensure you make a profit off your monthly payments.
If you are unsure of how you will charge your clients, consider hiring a professional business consultant. Use sites like cars. Also consider creating a website to feature your cars, and allow people to fill out inquiry forms to display their interest in your vehicles. He has more than 10 years experience writing articles, poetry, novels, and stage and screen plays. His writing career started professionally in He is also proudly serving the United States Air Force.
Licensing Requirements for Motor Vehicle Dealers. Small business mentoring and training Jwsuretybonds: Required Registrations for buy here pay here car lot.
A n buy here pay here car lot Business Tax Registration Business License Also callled an occupational license,or business permit.
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So you’ve decided to give it a go. The first thing you need to do is create a business plan for your new buy-here, pay-here operation. Special finance trainer provides the five things your business plan must have.
Shilson says it's not easy to borrow money to get into the buy-here, pay-here business. Dealers must have excellent net worth, a solid business plan and a .
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