The buy here pay here business model has been around as long as the car business it's self! Today more than ever we find the underground credit market alive and well. Through no fault of their own many Americans find themselves no longer considered a good risk! According to Forbs magazine
"Experts expect the secondary credit market to grow three times as fast as conventional credit lenders".
We provide potential new and existing businesses with targeted information that is guaranteed to provide the guidelines required for success. With over 25 years of actual experience owning and operating multiple buy here pay here car operations we are qualified to make these claims.
We tell you the real story about the buy here pay here business. These (so called consultants) that make the business sound so easy are only trying to sell you a bill of goods.
They say " Just buy a car for $5,000 take it to the car wash and then sell it for $9,500 with $5,000 down and the rest is profit". Does anyone really believe that any business is that easy?
This is what you really have to offer your potential buyers that most dealerships cannot offer! You have the final word on who you decide to finance. Many people make the mistake of thinking that anyone the bank will not finance is too risky. Giving the right people a second chance not only can make you feel good but can also make you a lot of money.
When you run a buy here pay here car lot buyers will find you. There is no reason to lease a fancy car lot with a high over-head! If your ego requires you to have a big expensive facility then go ahead and have one. If you are in the business to make money you can spend the money you save on more inventory. I always tell my clients to start small, learn the business and then grow into your ego!I cannot stress enough how important it is to set up your business correctly from the beginning! If you are interested in starting a new business or cleaning up an already existing business give us a call. 408.571.9869 or fill out the contact form below.