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Car Leasing and Used Car Sales


This company specializes in car rentals and used car sales.  The company buys used cars from various auto auction houses.  All cars are equipped with GPS tracking equipment.  They then lease these vehicles on a short term basis for people who do not have credit cards and/or good credit.   They accept cash, debit card, and prepaid/gift cards.  They also offer car rental insurance for those customers who do not have their own insurance.  Car rentals are $50 to $120 per day depending on the size and type of vehicle, plus $20 per day for rental insurance.  Customers include students, foreigners, and people who have poor credit ratings.  Cars include late model Honda, Toyola, Nissan, Chevrolet, Ford, Chrysler, Dodge, Kia, Hyundai, BMW, & Lexus.  

The company sells used cars either for cash or utilizing the company's rent-to own program.  Last year the company sold over 500 cars and they expect to sell over 700 cars in 2018.  The company is a volume wholesale distributor in the southwest region of Texas.  They retail select units that are in high demand.  Typically, their cars are a one owner or off-lease late model with low mileage.  Their inventory consists of 70 to 80 cars on their lot.  The Company also can help a customer find a specific type vehicle being offered at the auction houses and then charges a fee for buying the vehicle for the customer.  The company is licensed and bonded as a used automobile dealer in the state of Texas.  The company moved to their present location in February 2018 from their former location on Beechnut.  Their new location is more than double the size of their previous site, with better access and visibility.  The company is now having record sales and leasing.  


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Background information

Reference:

82317

Year established:

Opened in 2001. Moved to present location in 2018.

Reason selling:

Has acquired master franchise for Little Caesar's Pizza.

Finance

Sales:

$2,175,413

Profits:

$413,000

Profit type:

Discretionary Earnings

Operations

Employees:

2 clerical, 3 mechanics, 2 porters, & 4 sales people

Equipment:

See list in file.

Inventory:

$200,000 car inventory

Premises

Facility:

The property consists of a 4,600 sq. ft. free standing building located on approximately 1/2 acre of land. The building has approximately 2,000 sq. ft. office space and 2,600 sq. ft. of shop space (5 Bays)

Square footage:

Building is 6,000 sq. ft. on approx. 1/2 acre of land.

Rent and lease terms:

Rent @ $4,600 Gross. increased to $3,125 P/M as of 8/1/17. Lease expires 2/29/2028.

Location:

Southwest Houston

Price and terms

Price:

$700,000

Training:

As needed

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