Auto Sales - Financing
Location South Carolina,United States
Asking Price Range $2.5M - $5.0M
Gross Revenues $1124704
Net Profit / Cash Flow $250710
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1980
Number of Employees 1 - 3
Inventory 690000
Relocatable No
Number of Employees 1 - 3
Real Estate Owned
Reason for Sale Retirement.
Description This business sells gently used automobiles and light duty trucks on a retail basis. The vehicles which are sold through this lot are obtained from regional new car dealers and are also purchased on a wholesale basis at area auctions. The business offers financing to its customers and this feature attracts a large number of customers. The annual income generated from the interest earned on these notes held by the business is substantial and has increased steadily over the years. The business utilizes the ''On Time'' payment which allows the business to sell automobiles to credit challenged customers. When a payment becomes delinquent, the business owner has the ability to send a signal to a microprocessor which is placed in the vehicle which disables the cars ability to start until the payment is received. This gentle reminder to delinquent customers has allowed the business to maintain an excellent collection record from its customers. The business is physically located in a high traffic area which helps to attract new customers on a regular basis. This sale also includes the accounts receivable which are currently owed to the business by customers who are driving vehicles which have been financed by the lot. This amount will be approximately $600,000. Contact for more information on this Auto Sales - Financing business for sale.
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