Another great video Mr. Lucky. I actually want to start my own used car dealership, and I'm learning a lot from the few videos I saw on your channel. Keep up the great work.
I just got a call from the DMV, my Dealer license is official. Your content really helped me along. Thanks so much, keep the great/ honest content coming. @Automotive Life
Just a suggestion, if you ad a female consultant when you're in the field or during your studio vids, your subs will skyrocket. Because your content is on point, but a little eye candy wearing a personalized shirt saying Automotive Life will help in my humble opinion.
I'd have to say I disagree on that if you are here to learn. Samcracs did that with a well known female (but not well enough cuz I had to google her) and it got old pretty fast. There's specialty sites for that kind of stuff.
@@KoreyConstable not saying that isn’t your reason why you are here, but after the game is correct if he adds a female subs will sky rocket way faster than anyone here to learn.
That’s a very hard question to answer because it also depends on which car and in which market to give you a small example here in Vegas if you have a Subaru WRXMMR is 7000 will probably bid $6000 for it but right next to our state is Utah they’ll come in and no bid $7000 for that same car even though Kelley blue book is probably only 5500. And that will vary from state to state in car to car
Hey there, the videos are excellent and very informative, alot to be learned. Im going to be starting a dealership at a minimal scale. My question is how are used dealers buying inventory from new car dealers? Ive heard it is common, how does the process work?? thank you
I would say about. 90%. Which is a good and bad thing when dealers used to use their money the car prices were a lot cheaper but now that everybody has access to easy money it seems like it’s brighten up the car prices at the auction a lot faster
Hello lucky, my name is Juan your videos help me out a lot I just got my dealer license and I’m ready to go but my question is which auction should I sign up for? Or which auction is better to start the dealership? I’m in the state of Missouri
Sign up for all of them. What auction isn’t better than the other it all depends on your area because different options have contracts with different vendors like repo banks title loan companies so I would sign up with all of them and visit all the auctions till you find the one you like the best
Hello great vids been watching for a while my wife and I live in vegas my wife opened a insurance agency but we both have been talking about opening a small dealership my question is about zoning I've noticed that there are a few dealership working out of a strip mall or a placea like ez auto I believe on sunset Avenue how did that happen with the zoning laws for dealership
Its easy to open up anywhere in Vegas. only a few places you have to get a special use permit. but. I would look in the City or North LV or Henderson. Dont Do clark county it will take 90-180 days to get your license everywhere else is 2-4 weeks
Is it good to purchase tow trucks when you open a dealership and have everything inhouse? I also so sell diagnostic equipment and tools lifts tools ect. Would it be in my interest to also add a sales team just for that?
I strongly recommend always buying a tow truck if you’re getting into the automotive industry I have friends of mine even if you buy 30 cars a month and you’re spending $25 each card so it’ll pay for itself especially if you start to do your own re-post for caring in-house financing. I’m not Sure what you mean by sales team for your equipment if you’re doing two businesses out of one storefront I would just incentivize your salesman and sell cars as well as your equipment also if you can show the value of having equipment in your dealership make a few videos it would definitely be easy to sell that model and help dealers by your equipment a lot quicker
Question, in Las Vegas, if a By Here Pay Here customer defaults on their loan, repo man cannot locate them, can you then go to Metro and report the car as stolen?
I've looked around and couldn't find any answers, Started my own dealership doing cars and rv's been in the industry over 10 years but this is my first time owning and operating looking into getting a floorplan what is the minimum score or what do they look for?
If you have a dealership license you have to start from day one with liability insurance it’s not that expensive rental car insurance is double the price
Depends on what auction if it’s a Manhime there are some restrictions but it’s usually to what type of car if it’s a red light yellow light green light and what are the cautioned items plus if you use dealer shield on a few cars eventually it will start raising your overall price where you have to pay $120 on every car across the board to get dealer shield
Another great video Mr. Lucky. I actually want to start my own used car dealership, and I'm learning a lot from the few videos I saw on your channel. Keep up the great work.
Glad to help. and Go For it :)
I just got a call from the DMV, my Dealer license is official. Your content really helped me along. Thanks so much, keep the great/ honest content coming. @Automotive Life
Congrats. thats awesome. thanks for the kind words. let us know if you have any questions for you dealership .
Best video has saved us 1000s
great information! My best take-away was realizing the credit rating of the Vegas area. Makes so much sense on why people drive buckets out here...
💯 lol
Basically going back and binge watching all your videos 😎
Hope you enjoy! and make sure to Sub and Squeeze the like button
Thank you for your advice will stay away from making monthly payments to use these dealer licenses on craigslist
Glad to help. there are too many shady people trying to take money in the auto industry
I enjoy the video's Lucky. I'm here in Texas (North of Dallas 9in Frisco) why don't we talk about parting up? Bob
I’m going to TX to look at locations at the end of the month.
@@LuckyLopez777 Lucky I'll be here. I'd love to meet you and take you to BBQ and a Buc-ees. It's a must do experience. Bob
And if the authorized dealer person already committed to buy your car, how can you reverse the deal??
thanks for the videos I will be in touch soon 🤑🤑🤑🤑🤑🤑
😁👍
Just a suggestion, if you ad a female consultant when you're in the field or during your studio vids, your subs will skyrocket. Because your content is on point, but a little eye candy wearing a personalized shirt saying Automotive Life will help in my humble opinion.
are you saying Im not pretty enough??? lol. I do have some other videos coming soon with some Female friends
I'd have to say I disagree on that if you are here to learn. Samcracs did that with a well known female (but not well enough cuz I had to google her) and it got old pretty fast. There's specialty sites for that kind of stuff.
@@KoreyConstable not saying that isn’t your reason why you are here, but after the game is correct if he adds a female subs will sky rocket way faster than anyone here to learn.
Hey Lucky, appreciate your content. Was wondering in normal times how much mmr and like kbb trade in contrast. Thanks!
That’s a very hard question to answer because it also depends on which car and in which market to give you a small example here in Vegas if you have a Subaru WRXMMR is 7000 will probably bid $6000 for it but right next to our state is Utah they’ll come in and no bid $7000 for that same car even though Kelley blue book is probably only 5500. And that will vary from state to state in car to car
Thanks!
Thank You!
Hey there, the videos are excellent and very informative, alot to be learned. Im going to be starting a dealership at a minimal scale. My question is how are used dealers buying inventory from new car dealers? Ive heard it is common, how does the process work?? thank you
All you do is walk into a Large dealership. and ask for the Used Car Mamager and tell them your here to buy your trade ins thats it
Can you please elaborate on why to not buy someone else's dealer license?
Yes please.
Im in the Houston area if you need boots on the ground. I have your course and also working with Will (WE Management)
Houston is a Amazing place to do rental and BHPH. you should definitely look into doing that
Awesome video! What percentage of used car dealers do you think have floor plans?
I would say about. 90%. Which is a good and bad thing when dealers used to use their money the car prices were a lot cheaper but now that everybody has access to easy money it seems like it’s brighten up the car prices at the auction a lot faster
Do you think Toronto,Canada is a good place for bhph?
Hello lucky, my name is Juan your videos help me out a lot I just got my dealer license and I’m ready to go but my question is which auction should I sign up for? Or which auction is better to start the dealership? I’m in the state of Missouri
Sign up for all of them. What auction isn’t better than the other it all depends on your area because different options have contracts with different vendors like repo banks title loan companies so I would sign up with all of them and visit all the auctions till you find the one you like the best
@@LuckyLopez777 great thank you so much
I like your style
And I like yours as well
Hello great vids been watching for a while my wife and I live in vegas my wife opened a insurance agency but we both have been talking about opening a small dealership my question is about zoning I've noticed that there are a few dealership working out of a strip mall or a placea like ez auto I believe on sunset Avenue how did that happen with the zoning laws for dealership
Its easy to open up anywhere in Vegas. only a few places you have to get a special use permit. but. I would look in the City or North LV or Henderson. Dont Do clark county it will take 90-180 days to get your license everywhere else is 2-4 weeks
Is it good to purchase tow trucks when you open a dealership and have everything inhouse?
I also so sell diagnostic equipment and tools lifts tools ect. Would it be in my interest to also add a sales team just for that?
I strongly recommend always buying a tow truck if you’re getting into the automotive industry I have friends of mine even if you buy 30 cars a month and you’re spending $25 each card so it’ll pay for itself especially if you start to do your own re-post for caring in-house financing. I’m not Sure what you mean by sales team for your equipment if you’re doing two businesses out of one storefront I would just incentivize your salesman and sell cars as well as your equipment also if you can show the value of having equipment in your dealership make a few videos it would definitely be easy to sell that model and help dealers by your equipment a lot quicker
Here in south Texas the buy here pay here is very famous in car lots, but they ask for a down payment how that works
its usually 50% of what they are into the Vehicle
Question, in Las Vegas, if a By Here Pay Here customer defaults on their loan, repo man cannot locate them, can you then go to Metro and report the car as stolen?
Legally it’s their car so you cannot report it stolen. If you don’t GPS the car or you can’t locate the car you pretty much lose the car
I've looked around and couldn't find any answers, Started my own dealership doing cars and rv's been in the industry over 10 years but this is my first time owning and operating looking into getting a floorplan what is the minimum score or what do they look for?
There’s no min credit score. It depends on your experience and business plan
@@LuckyLopez777 great thanks for getting back to me again love the channel
@@LuckyLopez777 50k floorplan later your advice is always golden
CAN A WHOLESALE DEALER RENT OUT HIS/HER INVENTORY?
you can but you need to get a rental car licence and register your cars
do you need lot insurance when starting out 4 or 5 cars ?
If you have a dealership license you have to start from day one with liability insurance it’s not that expensive rental car insurance is double the price
When you rent your car on Turo do they have a limit on the year of the vehicle?
2012 is the oldest last time i checked. but every state is diffrent. i would check there website
Hey thinking about getting my deal licence here in nyc but everything is kind of mess up cause of covid-19 any advice just looking for a side hustle
I would move forward with it now that things are slow. when the economy picks back up there will be more Opportunities
@@LuckyLopez777 thank really appreciate the best info on youtube
Can you buy buyer shield on all vehicles or is their a mileage and/or age limit on the vehicle?
Depends on what auction if it’s a Manhime there are some restrictions but it’s usually to what type of car if it’s a red light yellow light green light and what are the cautioned items plus if you use dealer shield on a few cars eventually it will start raising your overall price where you have to pay $120 on every car across the board to get dealer shield
@@LuckyLopez777 Thanks Lucky!
I love this 📹video. I think shadey people need a kick in their Azz and an exposed 😳
:)
Where do you get the paper work to sell a vehicle. Sam Rosas, Houston, Tx.