The owner has been in the industry for a long time and is looking to retire. The company started out many years ago as a “we finance anyone” used car lot. They discovered leasing a few years ago and after seeing all of the advantages of leasing instead of financing converted. Now the business of the company is leasing autos to second tier credit customers, selling used autos, and some automotive service and maintenance for the public and leasing customers. Because of the high quality and late model cars they have attracted a better quality of customer than the “we finance anyone” lots. A typical auto might be a 2011 Chevrolet Impala with 60K miles or a 2008 Nissan Altima with 71K miles. They currently have over 160 autos out on leases. Customers pay weekly on those leases. The lot has a mechanical service shop that repairs and conducts Missouri approved safety inspections. They also offer free oil changes to their leasing customers. This gets the autos in so they can look them over for the condition, insures that routine maintenance performed, and leads to additional repairs and income if the autos need any repairs and to repeat sales.
This is a turnkey investment opportunity with an excellent return on investment backed by good assets.