So I have this idea to start an auto concierge service. Basically, what I want to do is create a service where I help people sell their cars, but how would I go about making money off of this platform. I saw a video of a guy in Europe that basically goes to the owner of the high end car, appraises it there, and then creates a contract in which the the owner of the exotic car turns over the title of ownership of the car to the guy. The guy then details, markets it, and sell it, at which point he turns over the funds to the owner with his fee subtracted. Now I realize that can work, but being in America, wouldn't most exotic owners be very reluctant to give over title of ownership via a contract?
Any advice would be appreciated
Hello! This idea fits with www.ExoticCarHacks.com a little bit!
And yes I doubt they would do that, most sales are made privately or just traded in to a dealer. Although go ask around, go to a cars and coffee meet and mingle with the owners of these cars and see if they like the idea! Heck maybe someone would even invest!
There could be some opportunity there. Have you thought about using an Escrow system to mitigate the risk on both ends?
I would be hesitant to hand over my whip so easily. Have you considered commision? Maybe a flat fee ?
Just a suggestion, could do it like wholesaling real estate. See the Nick Ruiz episode in the Academy at 24:00 in. I'm not sure if wholesaling cars would work the same way, but it is a thought.
I recommend watching the new John Nouri episode in the Academy as well.
You could look into auto brokerage. Its the same concept you're talking about but its finding cars from dealerships for clients and you can pretty much find the customer the spec that they want for a flat commission fee. On top of that you can make some money on the backend with the dealership you're dealing with as well. Hope this helps!