If you are thinking about starting a business selling cars, there are many things to consider. Apart from obtaining brand new cars directly from manufacturers, there are other sources which will help you establish your new business.
Selling repossessed vehicles
There are a number of online car auctions dealing with repossessed brand new vehicles. Somebody may have bought a car, lost their job and is now unable to pay the monthly repayments. The vehicles will have only a few miles on the clock but will otherwise be brand new. However, they will be selling for a fraction of the price they would have fetched, when they came straight out of the manufacturer’s show room.Governmental bodies such as sheriffs and bailiffs might seize cars and finance companies will repossess vehicles if payments aren’t met. Sometimes the police will impound vehicles if their owners were involved in bank fraud. To avoid maintaining and keeping these vehicles, governmental bodies will send them to be sold off at auction and a savvy buyer can find quite a few bargains this way. Less than one year old with virtually no mileage to speak of, the cars are checked for roadworthiness prior to being handed to the auctioneer for selling. A better source for starting your business of selling brand new cars is hard to imagine. Buyers will need to pay a small one-off fee to join some of these online auctions and then they can read up on the bidding process and terms and conditions.
Private Individuals Selling their Brand New Cars
Going back to your dealer because you’ve changed your mind about the model you’ve just purchased is usually not a good idea – your dealer will tell you, your brand new luxury car has already lost in value just by driving it out of the showroom. Unfortunately, if you change your mind about the type of car you bought or if you suddenly find, you can no longer afford the car repayments, you will discover your car is not the great asset you thought it was. Having said that, there are many reputable auction houses where you can get a good profit margin. If you find bidders on the day, who are enthusiastic about your particular model and make, the bidding can go quite high and you might end up making a good profit – just think of buyers who would otherwise have to join a waiting list on some models, so buying your car with a mileage of 100km on the clock will be to their advantage as well as yours.
Marketing and Advertising – you can’t go around it
Advertising on the internet or your local newspaper is a good way to find a potential buyer. Going online to sell cars is one of the best moves you may have to do. Marketing and advertising have never been more important as today’s consumers are flooded with services and products. Know how to do it or hire a marketing company to get you off the ground, and remember that service marketing differs from product marketing. If the buyer doesn’t have to arrange for finance, then the business of selling brand new cars is made all the easier for you. If you were thinking of importing cars from other countries, where a particular type or model is cheaper to buy, you must be aware of all the export/ import regulations and pay import duty accordingly. To start a car selling business you will need not only the courage, but the knack for research in order to find the best options. Find as much information as possible and connect with as much people, businesses and governmental agencies as possible. One great connection you will definitely need is a relationship with a established vehicle transport company. All this will get you off to a good start.
