How to start a Car dealing business

[Mikky]

Before you need to make sure you:
1 - choose a location you know will be favourable for your brand. In some areas only off road cars are highly demanded .
2 - make your business legal by registering it with a legal cooperation
3 - ensure you have all the necessary license & permits to own a car dealing business
.4 - try to insure your business in time just in case of casualties like theft, accidents etc.
5 - create a quality business name
6 - you can also create a website for your business.

 

[Starmix]

usually the car business operators here are all millionaires and they knew well the requirements like Toyota, Cargo Motors, Nissan, Tamaraw FX and more. I cannot afford to sell cars. I did apply as car agent before and was able to receive a huge commission of P 85,000 - 2 cars sold hehehe.

 

[Mikky]

There are a lot of car agents here, but since you mentioned it here I will try scouting for some dealer shops . You're right most of the car dealers are millionaire especially those who are specialized on some expensive brands like Benz, Lexus, BMW,...its a very complex business

 

[Starmix]

There are a lot of car agents here, but since you mentioned it here I will try scouting for some dealer shops . You're right most of the car dealers are millionaire especially those who are specialized on some expensive brands like Benz, Lexus, BMW,...its a very complex business

I stop working as a car agent during the pandemic. There are only a few or no buyers at all due to the increase of gasoline and other problems related to car buying.

 

[Stardom22]

I find the business too expensive to me

 

[Starmix]

@Stardom22 , yes, so true, it is hard to achieve business. I can only afford to act as car agent. I like selling cars. But in this trying time, I ceased for awhile.

 

[Hate2Wait]

First and foremost it requires a lot of money as in Capital for the business and land and as per my calculation you need a big piece of land and it will cost a lot of money but is a good business if you can manage to get some financial assistance from banks in the form of a loan and arranging these many funds from our own resources won't be a good idea.

 

[Mikky]

I stop working as a car agent during the pandemic. There are only a few or no buyers at all due to the increase of gasoline and other problems related to car buying.

Even with the skyrocketing price of petroleum product expensive car brands are still on high demand, some folks just need the cars for holding down their money more like an investment that doesn't return.

First and foremost it requires a lot of money as in Capital for the business and land and as per my calculation you need a big piece of land and it will cost a lot of money but is a good business if you can manage to get some financial assistance from banks in the form of a loan and arranging these many funds from our own resources won't be a good idea.

You are right the business requires a large capital , I don't really advice getting loans to start a business but in this situation getting a bank loan will be a better option. No matter how bad market might turn the cars will still be sold.

 

[cherry123]

This is one business that's capital intensive but very rewarding. Anyone with the right capital can start it

Post automatically merged: Nov 3, 2022

Yeah selling cars can be very rewarding but it isn't for those without the required capital to start.

 

[Mikky]

This is one business that's capital intensive but very rewarding. Anyone with the right capital can start it

Post automatically merged: Nov 3, 2022

Yeah selling cars can be very rewarding but it isn't for those without the required capital to start.

Yeah, the business requires a huge amount of capital but on the brighter side the profits are also huge, such business isn't meant for a weak minded fellow, also not for a greedy being and lastly it will be better not to focus on one brand of cars since its still a striving business

 

[cherry123]

Yeah especially now it isn't to start a car business without having a good amount of money with you. I doubt one can start this business without money

 

[Mikky]

Yeah especially now it isn't to start a car business without having a good amount of money with you. I doubt one can start this business without money

Totally impossible unless you Intend starting as a car dealer agent, I think that will not need any capital to begin with. A car dealing business is just like a banking business (can you start up a bank without having a good amount of money?)

 

[flower]

The car dealing business is very good business but it requires a lot of capital.

 

[Reedex]

A car dealing business is one of the most lucrative investment that each and every individual should always try out in order to make reasonable amount of money and so easily.

 

[cherry123]

Starting a car dealing business is to first have the money that will needed to commence then you look for trusted dealers in the business so that you start buying from there.

 

[Bisolami]

Starting a car dealing business is to first have the money that will needed to commence then you look for trusted dealers in the business so that you start buying from there.

There are times that some people do not have the money so they always sell whatever car another person wants to sell and they receive their own commission

 

[cherry123]

Yes one can be a middle man which some people called car agents . you bring to the noticed of a car buyer a car and sell to get a commission

 

[Niyi Briggs]

The question is how do you get the cars to stock in your car dealership shop. That's the major bulk of the capital expenses.

 

[Knowledge Quest]

I find the business too expensive to me

I too find this business expensive to startup most especially if you have low funds

 

[eldavis]

Though this is a very lucrative business but most people assume they need large amount of money to startup. I know of someone who started this business with just one car each time, from there he began to expand it.