Business Overview:
Best return on investment out there! This car sales lot in North Houston specializes in cars at $10,000 or less and provides in house financing on almost 70% of the cars sold. As most customers cannot access traditional financing, the interest rate on these loans is a whopping 24%!! Customers place a deposit (typically close to the actual cost of the car) and the rest is financed by the owner – if the customers stop paying, the owner activates the GPS system to find the car and takes it back. Some cars are sold multiple times at the same price, making a repo an even more profitable sale. Most cars are bought at auction and sold for about 2x cost after some slight tweaks by the mechanic. Cars are typically sold from no-cost websites, passers-by, the company website, the salesperson or by the owner himself. The lot is situated on a high traffic road in North Houston near the Hardy Toll Rd on a strip where there are many other automotive businesses surrounding. There are typically about 20 vehicles on the lot, but there is space for up to 40. $55k of inventory is included in addition to approximately $97k of outstanding notes (all at 24% interest) which brings in additional monthly cash flow. This is a cash only sale and is priced to move quickly. Please refer to CBB Listing #7496RDE
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
1,960 Sq. Ft. freestanding facility.
Market Competition and Expansion:
Utilize the other 20 open spaces for inventory. Hire another salesperson on commission.
Reason for Selling:
Owner wants to move back to California with family
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.