Listing Number: 86715-888801
Long time dealership providing a buy here-pay here services along with brokering autos and financing their clients. The company began operation in 1989 and was later incorporated in 1992. The City where the dealership is located is not issuing anymore car dealer licenses but existing companies are grandfathered in.
The dealership occupies 3 buildings, 2 of which are owned, one building is leased for ~$2,000/month with an option to purchase in October 2022. One of the buildings was previously a gas station and is set up for auto-service, which the dealership currently does not offer auto service to the general public. The other property owned by the dealership is the car lot with a building and wash bay. The car lot can hold 150-200 cars. The client has averaged over 1,800 total cars sold in the last 2 years.
The dealership has developed a well-established database of loyal repeat customers. Many of the customers are repeat customers, some of them being repeat customers for 20+ years. In-house financing is offered at 21% APR as well as 0% for 12 months. There are currently 993 notes being held. On average the dealership receives $6k-$7K interest per vehicle sold.
- Price: $16,500,000
- Down Payment: $8,000,000
- Sellers Discretionary Earnings: $6,718,394
- Total Sales: $15,427,810
- Location: Alabama
- Inventory: $300,000
- FF&E: $0
- Employees: 6
- Year Established: 1989
- Reason for Selling: Seller wants to pursue other interests
- Category: Automotive