Burning money might have been cheaper than selling vehicles

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Despite the risks involved in operating a car dealership, we've found ourselves on shaky ground lately as our losses have taken their toll. To ensure continued success for us and those that depend on us, something needs to change - fast!

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𝘊𝘢𝘳 𝘉𝘶𝘺𝘪𝘯𝘨 𝘛𝘪𝘱𝘴 𝘢𝘯𝘥 𝘮𝘰𝘳𝘦 𝘪𝘯-𝘥𝘦𝘱𝘵𝘩 𝘥𝘪𝘴𝘤𝘶𝘴𝘴𝘪𝘰𝘯𝘴:⁣
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#Chevrolet #Louisville #mikescarstore

Buying a Car Doesn't Have to Suck™

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The number 1 rule I learned running a small car lot is you cannot buy cars you like. You must buy what the customers demand in the area. My predecessor hated minivans so he wouldn’t buy them. I did and they would sell as fast as I could get them back from auction and inspected.

kyleansley

Appreciate the honesty. After 4decades of being a Chevy dude, 2 camaros, 2 Blazers n 3 Silverados, I'm moving on. The afm/ lifter issue is the turning point. My 2015 blew up at 70k....sorry I bought the 18 b4 I knew the story.

mironkorzalko

I appreciate how transparent you are, and how much you bring us all along on the journey of starting a new (car) business. It's just a shame that I'm not even in the US so I can't get my next car off you.

Justin-eeim

I am really old because paying 20k for a car with over 75k miles on it seems insane. I remember paying like 10k for a 3 year old car with like 25k miles on it. Times sure have changed.

haywood

Being informed when shopping for any car, new or used I think is key. Also buying from a reputable dealership like yours who has the interest in taking care of their customers is a huge plus!

tekdrvn

Hi Mike I enjoy the videos.
My wife has a 2020 Forte she bought newi in 2019 She had it 12-18 months when I noticed a noise when turning the steering wheel. Sounding like a scrubbing/scraping sound. I mentioned it when I took it in for a oil change. I was told there was a service advisory so something like that on the issue. It wasn't a recall part's were ordered & the car was fixed. Now around a year or so later the noise is back. When brought this up at the last service. I was told they'd came up with a better fix for the problem. The car is out of warranty & we'll have to pay to fix it. I'm not impressed with Kia they knew they had a
problem. They came up with a chep to get them by in hopes warranty would've run out when the problem returned.

djcowboy

Very good business perspective. You can’t always win, good lesson for any business. As long as you win most of the time you’re winning.

davebest

I wish there were more dealers out there that follow your philosophy. It's refreshing to see a car business doing right by people and helping those in need.

DavidMNewbold

Congratulations Mike on your first year! I knew that you would be successful. I have learned from your videos. One of the things that I learned was to avoid Kia, Hyundia Nissan and I will throw in VW for good measure. Wishing you continued success

s

I recommend getting involved with acv auctions I have a lot of luck selling my wholesale cars or trades that don’t make sense

a-linecars

I would not have hair with what you do. But your kind and humble and you care about your customers. Keep up the great work the video's are awesome

stevenroyce

Congratulations for a successful first year

jasona

Let’s hear the profit!! You are going to have a very successful business Mike. Putting the customer first and being ethical is a recipe for success.

blakem

Love your channel. I used to come down and work in that area often. Wish you would have been open when i worked in the area.

jefffisher

The profit from the winners must exceed the losses from losers by enough to cover the other expenses, salaries/ commissions, utilities, tools/ equipment, etc. and enough to compensate the owners.

robertewalt