Everyone knows there is money in the car business. I'm a dealer, most of my friends are dealers and I consult with dealers every day, so my estimates are very accurate.
of all, profit
depends on whether you sell cars at retail (to the public)
or wholesale (through the dealer auctions).
A dealer with a medium size lot on a good location can easily sell twice that amount per month. That's 20 cars, or $240,000 per year.
A full-time dealer with a large lot on a good location sells much more cars. Most dealers I talk to who do high retail volume sell 50-100 cars per month. 100 cars per month is $1.2 million dollars per year. Keep in mind: This kind of money requires many employees and a full-service operation.
Wholesale: A typical
"small" wholesaler sells 5 cars per week AVERAGE at a dealer auction.
Add that up... 20 cars per month at $500 is $10,000 per month, or
$120,000 per year. A high volume wholesaler with solid contacts in the car
business can easily make twice that.
A typical "small" wholesaler sells 5 cars per week AVERAGE at a dealer auction. Add that up... 20 cars per month at $500 is $10,000 per month, or $120,000 per year. A high volume wholesaler with solid contacts in the car business can easily make twice that.
Summary: Do not lose sight of the obvious: Experience pays! Never expect to strike it rich the day after getting licensed. It takes patience, hands-on experience and a little sweating before you will maximize your profits such as the examples above.
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