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Discuss Resources for Wholesaling? in the Finance and Insurance forum at Car Dealer Forums; Hi everyone, I am new in the car dealer business (about a year now) and ...
  1. #1
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    Question Resources for Wholesaling?

    Hi everyone,

    I am new in the car dealer business (about a year now) and I have been trying to find out some more information on selling my accounts to a bank who is willing to buy them. Does anyone know of a good resource that will give me more information on this? I have tried searching on Google but I have had no luck. Thanks in advance for the help.

    John A


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  2. #2
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    I assume you are trying to sell bulk Buy here pay here receivables? If so you can try Mid-Atlantic Finance Company. They solicit me all the time to buy my receivables, but we do not typically sell. I do not know how much they typically pay.

    Hope this helps.

    Aaron Hershey

  3. #3
    Senior Member RatiRut's Avatar
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    Look for listings for public wholesale auctions. A public auction will not have the lower prices of a dealer auction. However, you donít have to obtain a dealerís license to attend a public auction. These are usually advertised in newspapers and on the Internet long in advance to get publicity.Obtain a dealerís license if you are convinced youíd rather attend a dealerís wholesale auction. There is a great deal of paperwork involved. However, traditionally the dealer auctions offer lower prices. Consult your local DMV for the proper forms.Consult a third-party information source to determine what a fair market value is for a specific car and how it will fit into your budget. Kelly Blue Book is a traditional resource for this information, as is Edmunds see Resources below. These services break down cars by year, model, make and option and give you a price based on condition.Inspect the car you intend to bid on thoroughly.

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    new car business will be the toughest business field, as you have to look on different aspects of car dealing, before entering the market know the facts about everything.

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