[fundgorilla]

I'm sure this is a redundant thread, but I thought I'd go out and see who wants an 800k 700fico used car guy with no positions and no nsf's or other derogatory issues.

[WhoisKingsley]

Curious to see who would reply. So you have a Auto Dealer (repair or no?) Good numbers. Open how many years? Location? No financial issues.

Curious to see the final numbers and factor you get on this. Please share the outcome when it is closed.

[NoBigDeal]

Curious to see who would reply. So you have a Auto Dealer (repair or no?) Good numbers. Open how many years? Location? No financial issues.

Curious to see the final numbers and factor you get on this. Please share the outcome when it is closed.

In my experience, Car Dealers generally look amazing on paper, and yet still get the bad reputation as an industry in regards to performance. Having said that, Pearl would fund this kind of deal
PM me if you want to talk about the deal

[Michael I]

I'm sure this is a redundant thread, but I thought I'd go out and see who wants an 800k 700fico used car guy with no positions and no nsf's or other derogatory issues.

do they have a floor plan in place ?

[fundgorilla]

Good numbers - open only one year, however. No floorplan in place as yet.

[WhoisKingsley]

do they have a floor plan in place ?

I was going to ask that. Everyone who knows Business knows that floor plan financing is the best way to assist a dealer. An MCA is going to be too costly and they will more than likely try to get another position to CYA. This just grows into a larger issue with defaults etc. sales/inventory etc. headache. Get them floorplan financing

[WhoisKingsley]

Good numbers - open only one year, however. No floorplan in place as yet.

Even though the #s are good the under a year just killed it. Now you're looking at more than a 1.4X+ for 6 months or less.

[Michael I]

I was going to ask that. Everyone who knows Business knows that floor plan financing is the best way to assist a dealer. An MCA is going to be too costly and they will more than likely try to get another position to CYA. This just grows into a larger issue with defaults etc. sales/inventory etc. headache. Get them floorplan financing

not at all where i was going . there is a good lender in our space that will fund auto sales that does not have a floor plan in place . however they need 2 years in biz

[CreditGuy]

The reason used car dealers suck is because the *average* used car dealer makes $1500 per unit sold. The faster they turn their inventory the more they make, floor plan or no. If they have a floor plan, not only do you have a senior creditor issue, but you also have lower margins and faster profit deterioration due to the cost of carry on the floor plan. Not to mention the liquidity risks if they have principal curtailments at 90-120-180 days on unsold inventory.

That $800k in revenues is about 85-90% COGS. If that dealership is exceptionally well run they might be clearing $125-150K net. If they are more in line with the average customer looking to take out an MCA, they are probably in the $60-80k net income arena. Used car dealers don't benefit from economies of scale until they are turning over significantly larger revenues than $800k.

Last, this belongs in deal bin.

[EmpireRoth]

Please give me a call when you get a chance at 646 930 4338. Would like to take a look at this deal. Thanks


Nathan Roth-- direct lender
Empire funding- 1022 Avenue M, Brooklyn NY 11230
Direct (646-930-4338)
email:nathan@empirefunding.com

[Regium]

What are your interest rates, Direct Lender Nathan

[BB_Cooper]

Odd that they don't have a floor plan in place, but Cooper will always look at good B Lot dealer-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg

[cardinalequity]

Odd that they don't have a floor plan in place, but Cooper will always look at good B Lot dealer-

Robert S Bloink
EVP of ISO Partnerships
Direct: 248-341-9477
Email: bb@cooperasset.com
Web: www.cooperasset.com
logo-01smaller.jpg

Robert and his crew are great..highly recommend them.

[Sandstone]

The longest term we would be looking at on a clean car dealership would probably be 6 months this time of year. Payback months would be needed to see how they do around December and January.

[Sam@LendersBox.com]

Sandstone, Caprock and accord

[fqureshi]

send me the info fqureshi@wbl.com ill take a look at it (:

[Karen37a]

Cars are horrid because of a few of the reasons they posted and a few more.

1500 mark up per car, floor plans

small lot , pretending to be a huge dealership but the cars are on consignment to 10 other used car brokers...30 more reasons.

site inspection to find out you went to Sanford and Son, with an outhouse for a office ..etc etc





Experience is the teacher of all things...Julius Ceaser

[malan@connect2cash.net]

What's your contact number inhave a 1st position cattansporter and import export doing 1.2 mil a month .
What's your max loan amount

[Collinscash]

Smart Business Funding funds car dealers.

Anthony Collin
Chief Executive Officer
Smart Business Funding
Direct: 917-533-2979
Fax: 347-402-1650
Email: Anthony@SmartBusinessfunder.com
Web: http://www.smartbusinessfunder.com