Becoming a car leasing broker

[abid2111]

Just wondering have you managed to open a leasing company?

Tuvra said:

I am always on the lookout for cheap lease deals and have a huge interest in cars, I also enjoy finding the best deals for people and have sourced a few cars already for close family and friends. As sad as it sounds I actually like being involved in the new car situation, making suggestions and then finding out how the same people are getting on with their cars.

It got me thinking about doing this as a little sideline. I have a chap that emails me once a month with cracking lease deals and he then attaches an excel sheet that shows all the other vehicles he has available to lease, it seems pretty low outlay to set something like this up but I have a few basic questions:

• I assume I would make my money from the "admin fee" charged to the customer when they initially place the order. Is there any more to be had? I read on line that some make a cut on top of the rental charges e.g. BMW charge £300 and the customer actually pays £310 with BMW paying the additional £10 back to the lease company i.e. £230 over the 23 month period on top of the admin charge. Is this right?

• Where do you access the deals to offer on? I have seen franchises etc but they seem like a waste of money to me? Surely theres a way to acquire such lists from the manufacturers?

• What exactly would my job entail? I assume its find the deals, market the deals, hook the customer, forward the Finance proposals to the customer, return them to the finance company and if the credit score checks out- thats it you have a "sale"?

• Any other comments anyone can make on this idea?

For now its not going to be a full time commitment, just something where I can make a few quid highlighting the really good deals to family, friends and colleagues and then hopefully expand once I have "learned the ropes" a bit.

Very early stages in the thought process but looking forward to reading some responses