Used Car Dealership With On – Site Credit Franchise
Location: United States -> Oklahoma -> Durant
Industry: Auto Related > Auto Dealers
Businesses for sale Summary
Business Is Located In The Durant, Ok Area (Only One Hour Away From North Dallas) And Is Situated On A Busy Highway With Frontage And Access. This Is The Only Lot In The Area That Can Offer On-Site Financing With Immediate Approval Through A Credit Acceptance Franchise Which Is Included In The Package (You Don’t Assume Any Of The Risk). The Lot Has Room For At Least 50 Cars Behind A Gated Fenced Lot For Security. The Office Building Has Three Offices And A Reception/Common Area, And Has A Two Bay Garage In Back For Maintenance And Detail Work. An Additional Building On Back Of Lot Has Four Large Open Bays And A Large Enclosed Garage That Is Currently Sub-Leased. The Business Currently Has Over $350,000 In Outstanding A/R?s That Will Pay Out Over The Next 4-5 Years And Are Included In The Sale. The Current Owner Obtains All Of His Cars Through A Wholesaler Who Also Provides Floor Plan Credit Financing. The Owner Paid Over $81,000 In Wholesaler Up-Charges And $37,250 In Floor Plan Charges. A New Owner Purchasing Cars Through Auction Himself Would Save Over $80,000 In Cost Of Sales Expenses. The Business Can Be Relocated And The Credit Acceptance Franchise Can Be Applied To Another Car Lot.
Facilities: Leased facility with multiple acres of land and two large office and storage buildings. Entire lot is fenced and gated for security.
Competition: Minimal competition in the immediate area and this is the only one offering on-site financing. The Credit Acceptance franchise can also be applied to other dealerships if the new owner wants to expand or relocate.
Growth and Expansion: Currently they do minimal advertising or marketing so active advertising should pay big dividends in increased business. New owner should also purchase inventory directly from auctions instead of using a wholesaler as they currently do saving over $80,000 annually in costs.
Reason Selling: Owner needs immediate cash to move into another business quickly.
Financials
Asking Price Range: < $250K
Gross Revenues: $509,640
Cash Flow: $89,647
Cash Flow Type: Sellers Discretionary Cash
Inventory: $10,000
Seller Financing: Not Disclosed
About The Business
Year Established: 2006
Number of Employees: 1 – 3
Relocatable: Not Disclosed
Franchise: Yes
Current Real Estate: Leased
Property: Property For Lease
About The Sale
Management Training and Support: Owner will provide up to thirty days training and support.
Reason For Selling: Owner needs immediate cash to move into another business quickly.
