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Owning even a small used car dealership entails much more than just putting some cars on a lot and waiting for customers to come along.It requires knowledge of the cars, expertise in their features and differences, knowing competitive prices of similar models and how to arrange vehicle financing.Finally, hire a maintenance worker to prepare the vehicles for sale.
Select a visible location with easy access from main roads.
Ensure that your site has plenty of parking for your vehicle inventory as well as your customers’ vehicles.
Finally, you’ll need to strictly adhere to state Lemon Laws and deceptive advertising regulations.
In Texas, for example, vehicle dealer licensing falls under the purview of the Texas Department of Transportation.
There are several options for financing, including loans and seeking investors.
Before pursuing financing, it's important to make sure that your own finances are in good order.
Although automobile sales experience is desirable, salespeople who have sold other big-ticket items, such as boats or expensive jewelry, may also be prospects.
Each salesperson must contact your state’s Motor Vehicle Administration for licensing requirements.
Finally, hang signage that conforms to dealership requirements and announces that you’re ready to accept vehicles for sale.
How do you plan to attract new customers for your automobile business?