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I'd like to become a car dealer - how do you recommend I start?
I would like to get into the car trade. Is it realistic to aim to sell 10 cars per month? I would aim for bargain cars under £1500. Would you also please confirm realistic margins, i.e. could I buy them for £500 and sell for £750 after a very heavy interior and exterior clean and polish?
Asked on 12 August 2012 by SB, Rochester
Answered by
Honest John
It's unrealistic to even think about it because of dealer liability. Take up plumbing or painting and decorating instead. With £1500 cars you are subject to consumer protection laws and the worst type of customer who can quickly ruin you.
This just happened to a friend of mine. He lost £100,000 in a year as the result of the actions of a single customer who bought a £1695 car from him and then returned it with some faults, but meanwhile had damaged the car. My friend wanted to charge him £150 for removing the stereo, scratching the side and messing up the interior with a dog. The vindictive customer then placed a libellous video on the internet.
This just happened to a friend of mine. He lost £100,000 in a year as the result of the actions of a single customer who bought a £1695 car from him and then returned it with some faults, but meanwhile had damaged the car. My friend wanted to charge him £150 for removing the stereo, scratching the side and messing up the interior with a dog. The vindictive customer then placed a libellous video on the internet.
Tags:
becoming a dealer
dealers
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