How do I Learn the Used Car Business?

The automotive industry is a business industry where dealerships sell new and used cars to individuals and businesses. Used-automotive sales typically have higher profit margins and provide a way for individuals to earn income.

Facts

Many local chambers of commerce have information on starting a business and the surrounding economic environment. Current automotive dealerships may also be members of the chamber, and allow individuals to come to the business and learn about the auto industry.

Potential

Getting a job at a local automotive dealership is a good way to learn about the used car business. Many positions are available, including sales, finance, title clerk, accounting or wholesale purchaser. These positions will provide a different look at the industry as a whole.

Considerations

Running a used car dealership is often a capital-intensive operation. Dealers need money or a floor plan to purchase vehicles, location large enough to display vehicles, sales tax, occupational and other licenses and employees. This can require higher upfront investment than other businesses.

References

• National Automotive Dealers Association: Homepage
• Inside CRM: The Used-Car Salesman's Training Manual: 25 Tricks They Use to Charge You More