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Where do used car dealers get their capital
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WaCKy-Angel
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 Feb 9 2022, 10:11 PM
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QUOTE(ycs @ Feb 9 2022, 09:31 PM) Floor Stocking is a revolving credit facility extended to Panel car dealers for the purpose of financing the purchase of the dealers' motor vehicle stock QUOTE(rooney723 @ Feb 9 2022, 09:32 PM) bank got loan them money for cashflow, thats why they can buy cars in cash, and used car is a high profit margin business each car they can earn rm10k at least, the least also rm5k per car for those hot models recon cars even more untung QUOTE(diffyhelman2 @ Feb 9 2022, 09:47 PM) Bro, telling people abt revolving credit facility for car dealers is not a huge secret reveal. They won’t lend to any tom dick Gary. Thats why ayam wondering too why would banks simply loan money to any ah kow, ali, or muthu. |
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TSdiffyhelman2
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Feb 9 2022, 10:14 PM
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QUOTE(WaCKy-Angel @ Feb 9 2022, 10:11 PM) Thats why ayam wondering too why would banks simply loan money to any ah kow, ali, or muthu. They will secure the credit facility against something like your house property business etc. |
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WaCKy-Angel
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Feb 9 2022, 10:18 PM
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QUOTE(diffyhelman2 @ Feb 9 2022, 10:14 PM) They will secure the credit facility against something like your house property business etc. Means they dont "start small" lahh? |
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feekle
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Feb 9 2022, 10:23 PM
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QUOTE(WaCKy-Angel @ Feb 9 2022, 10:18 PM) Means they dont "start small" lahh? Rag to richest start small lor..banks wont easily give credit facility and one must have some sort of collateral against it. If you play the game right like NAZA build ties with the right man in powah..become rich in no time. |
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fantasy1989
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Feb 9 2022, 10:26 PM
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QUOTE(WaCKy-Angel @ Feb 9 2022, 10:18 PM) Means they dont "start small" lahh? start small as dealer employee and build up your reputation find some big boss partnership and open your own used car shop lor just like you open company also need capital/start-up fund right? |
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SUSFenix98
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Feb 9 2022, 11:20 PM
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Yeah it a business where the dealer will front all the risk first and banks facilitate.
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SUSFenix98
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Feb 9 2022, 11:20 PM
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It's not as easy as it sounds.
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SUSFenix98
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Feb 9 2022, 11:22 PM
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QUOTE(WaCKy-Angel @ Feb 9 2022, 10:18 PM) Means they dont "start small" lahh? Yeah some literally do One wira bekam 2 3 4 4 4 5 5 6 7 8 Grind your way up... |
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SUSFenix98
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Feb 9 2022, 11:22 PM
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You can try yourself with cash to buy off people and flip highly sought after cars like vios civic... Myvi corolla etc
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SUSFenix98
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Feb 9 2022, 11:23 PM
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Or highly sought after enthusiast cars.
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TSdiffyhelman2
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Feb 9 2022, 11:23 PM
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QUOTE(Fenix98 @ Feb 9 2022, 11:20 PM) It's not as easy as it sounds. Those that say high profit margin, risk is also high and some of those margins need to pay for security and insurance of all those cars from damage fire stolen etc while in their care and still unsold. This post has been edited by diffyhelman2: Feb 9 2022, 11:24 PM |
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SUSFenix98
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Feb 9 2022, 11:25 PM
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QUOTE(diffyhelman2 @ Feb 9 2022, 11:23 PM) Those that say high profit margin, risk is also high and some of those margins need to pay for security and insurance of all those cars while in their care and still unsold. Yes and also buying a car of someone who still under lon. You gotta settle the full amount with the bank even before it can be transferred to your company/name... These are risks. |
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TSdiffyhelman2
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Feb 9 2022, 11:27 PM
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QUOTE(Fenix98 @ Feb 9 2022, 11:22 PM) You can try yourself with cash to buy off people and flip highly sought after cars like vios civic... Myvi corolla etc I imagine a mechanic who really knows abt the car can start like this. Get a car that seemingly has expensive problem that owner wants to get rid of cheaply, fix the part cheaply n sell for high profit, like flipping a foreclosure. |
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Icehart
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Feb 9 2022, 11:30 PM
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now not easy with carsome and mytukar coming in
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novblaze
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Feb 9 2022, 11:31 PM
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QUOTE(diffyhelman2 @ Feb 9 2022, 09:07 PM) Each car they pay tens of thousands in cash straight. Millions in Cashflow. I know most going to say kongsi gelap cuci money but I wonder if got real investors pool their money to start a business in this. Anyone from this industry know? Might as well ask where kedai jam tangan get their money |
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SUSFenix98
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Feb 9 2022, 11:31 PM
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QUOTE(diffyhelman2 @ Feb 9 2022, 11:27 PM) I imagine a mechanic who really knows abt the car can start like this. Get a car that seemingly has expensive problem that owner wants to get rid of cheaply, fix the part cheaply n sell for high profit, like flipping a foreclosure. Mechanic has less risk and less working cap to entry... You will eventually hire your own handy man to fix these cars to last for few months... Kek |
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SUSFenix98
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Feb 9 2022, 11:36 PM
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QUOTE(novblaze @ Feb 9 2022, 11:31 PM) Might as well ask where kedai jam tangan get their money Now this I wanna know... Esp those watch dealers... Millions in stock... In a small shop. This post has been edited by Fenix98: Feb 9 2022, 11:36 PM |
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frequency
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Feb 9 2022, 11:42 PM
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taikor
cash from daddy
banks
nowadays also got p2p like capbay, funding society
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SUSBug Juice
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Feb 9 2022, 11:51 PM
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New Member
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One of my friend used to do this a bit, he sell aofatts and vellfires with a partner, one pc at a time and one sale can untung like 40k. It was long time ago and not doing it anymore
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TSdiffyhelman2
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Feb 9 2022, 11:51 PM
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QUOTE(novblaze @ Feb 9 2022, 11:31 PM) Might as well ask where kedai jam tangan get their money thank you but no tq for this low value input, got others chimed in with better info before d. |
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