Welcome to the Car Dealership Guy Podcast. In this episode, I'm speaking with Jeff Watson, Owner of IV Seasons Auto where we discuss: Secrets of automotive's most controversial business, tackling 90% in-house financing, economics of buy here pay here dealerships and much more.
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Topics:
00:00:00 - Intro
00:02:49 - Jeff’s background and career
00:09:29 - What’s your average sale price?
00:10:01 - How do you account for profit?
00:12:01 - How do you compensate your Sales Manager if you’re running the retail shop at break-even?
00:13:51 - Where did you learn to do all of this?
00:18:47 - How are you able to get such great reviews?
00:20:06 - Who reaches out to customers?
00:22:35 - Why is 36 months the minimum you target?
00:23:49 - What’s your breakeven period on average?
00:24:48 - Where are you sourcing vehicles?
00:27:14 - How has your business changed since Covid?
00:32:35 - EVs
00:34:15 - Floor plans
00:35:27 - What are the economics of the lending business?
00:39:03 - The Independent Dealer Podcast
00:45:59 - What’s next for you?
00:47:58 - Closing thoughts
Check out 4 Seasons Auto Sales here - 4seasonsauto.com/profile/4seasons
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