Pre-Owned Car Sales with In-House Financing

Not Disclosed, NC
Pitt County

Asking Price: Annual Revenue:
$1,500,000 $2,380,000

Automotive & Boats: Dealerships - Auto, Truck, Motorcycle

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RE: Pre-Owned Car Sales with In-House Financing Broker: Sean Rollins
Owner Financing is Available!
Owner Financing Terms $300,000.00 Owner Financing Interest 7% Owner Financing Terms Months 84 Owner Financing Monthly Payment $4,527.80

Quick Facts

Asking Price: $1,500,000
Annual Revenue: $2,380,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2003
Employees: 14
BBN Listing #: 108558201
Broker Reference #: 13485-488859

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Business Overview:

This is a longstanding business on a prominent intersection, in a rapidly growing city. Not only does this business sell and service pre-owned automobiles, it offers a buy here pay here model with in-house financing. They currently have close to $1MM of outstanding loans at an interest rate of 21%!

The current location is perfectly suitable with 6 bays each with its own lift, a paint booth, fenced lots for storing cars, a spacious showroom, three offices, and a sizable mezzanine area above the offices.

The sale comes with all outstanding loans, along with all the inventory.

This business was started in October 2003. The owner started off buying a small group of cars and selling them in a lot he leased. As the business grew, he purchased a couple real estate lots in a prominent location with heavy traffic, and moved the business. The existing building was renovated, allowing the garages to be expanded and sales to increase. The business currently has 6 garages and a paint booth. Originally outside lenders were used to finance their customer's deals, which they later switched to a Buy Here Pay Here model financing all deals in house.

The biggest growth opportunities are in improving the underwriting process by using AutoZoom's matrix, which works to match the customer with the best deal, which reduces repossessions. Increasing inventory along with the quality of inventory has proven to increase sales. They have been succeeding at buying better cars and reducing the time taken to move the car to the front line which gives customers more options. There are plenty of bays in the garage and a paint booth that could be used for servicing vehicles that were purchased elsewhere instead of only vehicles purchased outside of the business.

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Reason for Selling:


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.

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