What's needed to get into the used car industry?
Discussion
Hi,
After a bit of advice if anyone could help me out.
I'm 19 and in my second year of A levels, taking Biology, Chemistry and ICT, looking at getting AAA-AAB in them. I have applied to uni, for management (some courses are management and marketing). Applied to Bath, Royal Holloway, Aston, Cardiff.
I definately want to work in the automotive industry, and I would prefer to be on the sales side. However my main interest lies in used cars, especially exotics and high performance. What qualifications or experience would one need to work in these kind of showrooms?
Would a business degree be useful, or would employers prefer experience (I could work part time at a dealer during uni?)?
I have retail sales experience, I am outgoing and friendly with good interpersonal skills and I think I have the correct kind of mindset and image for the job (feel more comfortable in a suit and brogues than jeans and a t shirt like my friends!). I think I have a sharp business acumen, my parents run their own business and I have learnt a lot from them.
I am fascinated by the used car market, spend a lot of time with the CAP Black Book and down the local auctions. Have been to proper BCA auctions in Blackbushe.
My dream is to have my own company dealing cars. I see so many locally (South Wales) that are simply so poorly run: forecourt is dirty and dull, cars aren't displayed to the best of their potential, no website or very poorly designed one with poor quality photos of the stock wedged in between other cars, etc. Yet I assume they're turning over a profit as the stock does seem to move on and they have been trading a long time.
I know I could do better given the chance, but simply don't have the funds to get started, and I'm unlikely to get finance to do so as I'm young with little experience or qualifications, all the small business loans want property owners as security.
Thanks,
Matt
After a bit of advice if anyone could help me out.
I'm 19 and in my second year of A levels, taking Biology, Chemistry and ICT, looking at getting AAA-AAB in them. I have applied to uni, for management (some courses are management and marketing). Applied to Bath, Royal Holloway, Aston, Cardiff.
I definately want to work in the automotive industry, and I would prefer to be on the sales side. However my main interest lies in used cars, especially exotics and high performance. What qualifications or experience would one need to work in these kind of showrooms?
Would a business degree be useful, or would employers prefer experience (I could work part time at a dealer during uni?)?
I have retail sales experience, I am outgoing and friendly with good interpersonal skills and I think I have the correct kind of mindset and image for the job (feel more comfortable in a suit and brogues than jeans and a t shirt like my friends!). I think I have a sharp business acumen, my parents run their own business and I have learnt a lot from them.
I am fascinated by the used car market, spend a lot of time with the CAP Black Book and down the local auctions. Have been to proper BCA auctions in Blackbushe.
My dream is to have my own company dealing cars. I see so many locally (South Wales) that are simply so poorly run: forecourt is dirty and dull, cars aren't displayed to the best of their potential, no website or very poorly designed one with poor quality photos of the stock wedged in between other cars, etc. Yet I assume they're turning over a profit as the stock does seem to move on and they have been trading a long time.
I know I could do better given the chance, but simply don't have the funds to get started, and I'm unlikely to get finance to do so as I'm young with little experience or qualifications, all the small business loans want property owners as security.
Thanks,
Matt
You're not going to fall into a job selling Fezza's and Lambo's to playboys without the right contacts - get yourself up to the festival of speed, the revival and what not and start building a bit of a network, start putting buyers with sellers for a small commission or something, be smart! You don't need money to make money! 
If you're spending time at the auctions why not just start there? Speculative here but buy one car for say £5k, sell it for 6 or 7 if you are buying right (get something that will sell, not something that you would buy for example). Put your profit in the bank. Take your original £5k and do it again and build it from there.
I'd do this a little if I had anywhere to park/keep cars that I could buy at auction but unfortunately it's impossible where I live.
I'd do this a little if I had anywhere to park/keep cars that I could buy at auction but unfortunately it's impossible where I live.
Would love to do that, think about it all the time, just don't have the couple of grand to do so. I have bought a few cars from auction and sold them on, made a profit each time, but I'm talking £600 cars and selling them for £800-1000. At the moment don't really have any funds at all.
Carpie said:
Would love to do that, think about it all the time, just don't have the couple of grand to do so. I have bought a few cars from auction and sold them on, made a profit each time, but I'm talking £600 cars and selling them for £800-1000. At the moment don't really have any funds at all.
Selling 10 cars for £200 profit a time is £2000 profit. Start small, work up 
With £2000 you could start picking up cars for £1200 that are worth £1800 (rough example). If you're willing to get your hands dirty and rectify minor faults, (cracked headlamps, crushed bumpers, needs a service, etc,) the potential to buy low and sell high is even better.Thats what i'm starting to do - I hate the filthy forecourt look as well. On the look out for a workshop to expand into at the moment.....
Many small garages will go through this year, the credit crunch means less people approved for credit. If you buy trade ins from garages you will need to be vat registered something to bear in mind. A lot of auctions are following this trend iv noticed, ie you have to be vat registered to buy from them, the old days of buying cheap cars and selling them on and making a few quid are probably over to be fair. If you sell from home you WILL have a visit from HMRC, council etc or similar, which basically means if you do everything properly you will be running a legit business with all associated costs and youl be up against thousands of other small traders and forecourts.
I have a cousin who started by buying/fixing and selling on motorbikes while he was an apprentice car machanic / pannel beater. He graduated to second hand cars and then started his own repairs and body shop. That began about 30 years ago. He has done well and at one time also owned a couple of houses abroad. I think he's scaling down to retirement now.
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