application denied

We reserve the right to refuse access to any individual. Often we get get application and the person does not appear trustworthy. Number one if they do not speak to us personally before signing up we are leary. This person is normally jumping in without understand our risk. They are concerned with themselves and their risk.

Due Diligence

I receive many request from people interested in how I can help them until they get their invoice then, they start questioning the validity of the program. This blog is put here to provide you with information. I find that most people will not invest the time until they are asked to invest their money. I am not interested in this person. My fees are less than you can buy a hot dog cart for. Yet some people act like it is a major investment. I simply do not wish to start a relationship on mistrust. There are many success stories here in this blog.

Went to the Auction in Nashville yesterday and stayed with my plan on investing. I look for cars that may need a few minor repairs for those on Craigslist looking for a project car. One I bought was a 1998 Lincoln Navigator. 
I paid $650 after fees $765. I drove it back from Nashville. Some people are in this business to satisfy their ego. Others are in it for the money. Neither one is wrong. It's just what you feel your calling is.

Getting the Treatment you derserve!

This morning I am reflecting on all the years I have been going to Auto Auctions I know how to get the treatment I deserve.  We often walk up to the ladies at the counter and expecting to get our titles and be treated with respect. What do we give over all the others who walk up and expect the same. Day in and Day out these ladies often get no more than a kind word if anything. If you want respect give it. Show them you empathize and appreciate their attention. Send a cake or maybe lunch every now and then. This may cost you $50 or so. It is well worth the investment. When you are looking for a Title or needing some special attention, be special to them and deserve the attention. One day if you are a car dealer you are going to need a favor so pay it forward!

Tom Success Story

Tom called me about becoming a wholesaler in October of 2015. We discussed the opportunities and he jumped in our network mainly because he wanted the experience I had built. Tom Last week earned $6800 as a wholesaler. I am going to call Tom today and go over some of his success stories that have led up to his feat. I recorded a 22 minute phone call with Tom and fished for some his secrets. This guy is on the ball.

Click here to listen to His Call

Phylosophy

When starting any business it’s very important that you have a philosophy in mind.  Younger people tend to have a different philosophy between life and business.  As we get older we realize that life is simply a business. The car business is no different from any other life business.

  

The car business is strictly a lifestyle.  Most of us entered this business because we have a passion for automobiles.  As a matter of fact a passion for automobiles is what partly built America.

There are many reasons that I’m in this business however the main one is my passion for automobiles. As a young man growing up in a salvage yard I learned to diagnose and work on vehicles at a very early age. The type of vehicle I drove and the compliments that I got depended on my ability to whip the car into shape. I started driving some very ugly cars. First I would get them running good and then I would start doing bodywork.  I was known in school as the kid who all the time spend his money on his car. I wasn’t very popular with anyone except those that treasured their rides.

Once I got a car that looked sharp and traditionally was very fast other kids wanted to buy the cars from me. So I would sell it, go to the backfield and grab me another piece of junk and begin the process all over again of transforming that junk into a cool ride.

I had a reputation for knowing how to work on cars and transforming them.

As I think back now some of the classics that I had would be worth a fortune today.

What I loved more than anything was the desire that I created in people to own my masterpieces. Of course as a kid I never started working on a car with the intentions of selling it. So I put my efforts into making sure it was very good transportation for me to get to and from school as well as other places that I wanted to travel. The more I hesitated at selling a car the more prospective buyers were determined to own that car. I learned at very early age the take away close. 
The take away close is simply showing no interest of selling the vehicle. I often used the comment that it would take a lot of money to get this vehicle away from me.

Trading make the Deal Sweeter!

I love to take trades in for cars I have for sale but let me explain how the big Dealers do this process.

First you have the salesman that is pricing the car for a Retail price. You have the sales manager and you have the wholesaler who  appraises ACV (actual cash value) of the car. A wholesalers never gives the amount he speculates he can retail the car for. He is only concerned with what the car would bring cash at the very next auction. As a matter of fact he is often compensated on his knowledge of the wholesale value of the car. It is the used car manager who will decide if the car is kept for retail or sent to the auction for cash liquidation.

What the wholesaler will appraise the car will consist of all the repairs needed to make the car retail able. He will take into consideration first tires, detailing, oil changes, mechanical issues. He will deduct all these charges for the actual cash value of the car.

We often call this in the business "steal the trade". This is a huge way to make big money on a single purchase. One car can make you thousands on the trades. I often give $500 or $600 for a trade and sell them for $2,000. The car buyer wants what you have and is very willing to give what he has away to get it.

I recently had a 2000 Crysler Van on Craigslist for $2000. I paid at the Auction with auction fees $565. A man called me up and told me he had $1500 cash. I asked him if he had a trade? He said yes but it wasn't much. He said he did not like it, but it ran. I said I would take his $1500 and his van. He jumped at the chance to get my van. He brought his van and $1500. I sold his van the next day for $1000. So instead of getting my asking price of $2,000 I ended up getting $2500 through my trading.