Buy-Here-Pay-Here Used Car Business
Camden County, New Jersey
| Asking Price: |
Gross: |
Cash Flow: |
| $2,350,000 |
$2,990,559 |
$205,357 |
Furniture and Fixtures Value:
$700,000 (included in the asking price)
Real Estate:
$1,350,000 (included in the asking price)
Business Summary:
Nine Months ago this used car dealership took on a new direction. These figures projected for balance of year (9months completed)
Located in Camden County this buy-here-pay-here used car business is situated on approximately 1.9 acres and is comprised of three companies a used car business, a sub prime lending business and a car rental business. The company specializes in cars 5 to 10 years old. They offer affordable mechanically inspected cars and the availability of financing which is critical to those customers in order to get their life back on tract. These prices ranging from $8,000 to $10,000 any withheld balance on sale carries a 27% interest charge.
Based on this payment amount they target a car that fits the customer’s needs and which there customer can afford. All of the vehicles on their lot must be certified under their comprehensive 65 point inspection program to insure that the customer is getting a quality dependable car that will continue to run throughout the term of the financing. Their service department (which consists of 2 mechanics and has four lifts) maintain their fleet of vehicles.
Owner/operator repossesses cars immediately if there is a one day default. Real Estate consists of 3 buildings A- office & main building B- Payment building equipped with full kitchen C service and repair shop. Owner who in past has owned similar business can show 5 year projected net revenues of 3,700,929 with net income of 524,379 annually. Real estate $1,350,000 inventory used cars $1,000,000. Typical car sale is for less then $800.00 with 27% finance charge on balance. For further information, please contact Vito Mastromonaco at 908-851-9040 Ext 285
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| Year
Business was Established: 1972 |
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| Number of Employees:
9 |
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| Facilities / Terms of Lease:
1.9 acre facility- 3 buildings plenty of room for all functions. Display of vehicles office/finance office and repair shop. Plenty of room to place related businesses on site. |
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| Potential
Growth/Expansion:
This concept is increasing on its own as its customer base with lack of credit area willing to pay 27% interest on their outstanding balances of cars $500-$900 they purchase |
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| Competition:
Unique concept a business like this can only survive and preserve itself only with a base of willing car leasers in an extremely close proximity to this facility (within 2 ½ miles) |
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| Owner
willing to finance:
Owner to a very strong buyer would finance greater amount to well qualified buyers. |
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| Owner
willing to train:
Two week- owner would remain as paid consultant |
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| Reason for selling:
Retirement |
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| REQUEST MORE INFO |
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