Dad is considering buying a Mitsubishi/Hyundai dealership...good idea?

xxballinboi786 · 10-04-2008, 12:38 PM

The dealership in question is Potamkin Mitsubishi/Hyundai in Manhattan.

Good idea? Why or why not. Thanks

Amir87 · 10-04-2008, 12:44 PM

LOL I misread it and was like WTF, your dad just got a lambo and he wants to buy a Mitsu or Hyundai, of all cars.

xxballinboi786 · 10-04-2008, 12:46 PM

Quote:

Originally Posted by Amir87

LOL I misread it and was like WTF, your dad just got a lambo and he wants to buy a Mitsu or Hyundai, of all cars.

lol...his friend is selling and offered it to him...their going to look over the numbers today..just wanted to know if you guys think its a good idea

rich662 · 10-04-2008, 12:57 PM

seems like ur dad is pretty good with his money, so probably wouldn't be a bad decision if he does go through with the deal

stooken · 10-04-2008, 01:13 PM

Quote:

Originally Posted by rich662

seems like ur dad is pretty good with his money, so probably wouldn't be a bad decision if he does go through with the deal

+1

i'm sure he makes more money than probably 95% of the people on here too. doubt he'd go listen to some internet forum

xxballinboi786 · 10-04-2008, 01:22 PM

Quote:

Originally Posted by stooken

+1

i'm sure he makes more money than probably 95% of the people on here too. doubt he'd go listen to some internet forum

lol

He probably wouldn't listen blindly...but there are a few people here who know what they're talking about so if they could give a + or - answer with a reason to back it up, i could convey it to him and have him decide for himself. After all, a car dealership is a new venture for him, and I don't want his "friend" misleading him.

ALPINE6SPD · 10-04-2008, 02:05 PM

I would by a Hyuanadi dealership in a heartbeat. In the futre they will be a serious competitor to Honda and Toyota. They are already getting there. Mitsu has NOTHING even decent coming out soon. I would NEVER own a Mitsu dealership.
Mitsu = Ford of Japan.

Aija · 10-04-2008, 07:00 PM

Quote:

Originally Posted by ALPINE6SPD

I would by a Hyuanadi dealership in a heartbeat. In the futre they will be a serious competitor to Honda and Toyota. They are already getting there. Mitsu has NOTHING even decent coming out soon. I would NEVER own a Mitsu dealership.
Mitsu = Ford of Japan.

+1

the hyuandi I think is a good investment part of it...Mitsu is the opposite...Just look at their sales #.

asdflkijd · 10-04-2008, 07:21 PM

hyundai yes, mitsu no. lol you dad should scrap the mitsu and get a kia LOL.... hyundai/ kia dealership = $$$$$$$$$$$$$$$$$$$

ZuerstBMW · 10-04-2008, 07:45 PM

Quote:

Originally Posted by asdflkijd

hyundai yes, mitsu no. lol you dad should scrap the mitsu and get a kia LOL.... hyundai/ kia dealership = $$$$$$$$$$$$$$$$$$$

+1 on this.

2K5 325i · 10-04-2008, 07:48 PM

There is some shitty advice in here.

Kia?

Are you guys serious?
-Chris

TiAg335i · 10-04-2008, 08:08 PM

Taking advice from a forum on matters as risky as this is never a good idea.

Calgary Agent · 10-04-2008, 08:27 PM

Quote:

Originally Posted by 2K5 325i

There is some shitty advice in here.

Kia?

Are you guys serious?
-Chris

Kia=Hyundai

.:bHd:. · 10-04-2008, 09:04 PM

There is a reason why its being sold in the first place

asdflkijd · 10-04-2008, 10:11 PM

Quote:

Originally Posted by 2K5 325i

There is some shitty advice in here.

Kia?

Are you guys serious?
-Chris

I think your shitty.....

JK... dude, tell me why Korean automobile companies are owning the Americans and soon to be out selling the Japanese companies... Hyundai is a no brainier, and I don't know where you live but there are many military bases near where I live, and guess what, about 60% of them drive hyundai's and kia's.. why? they are dirt cheap and get the job done... now why would having a dealership with those two be shitty?

and btw, it was just a joke... do you think it would even be possible to sell kia and hyundai together? thats like saying subway and quiznos are going to be in the same bld/suit/floor/ whatever, you get the point!

fasterthanyours · 10-04-2008, 10:12 PM

You just don't get out of something "as profitable" as a car dealership for no reason.

New car sales aren't where the money is anyway, it's used car sales.

darkcloud · 10-04-2008, 10:33 PM

^^^ That's pretty gifted of you to double post 5 minutes apart from each other

To the OP, I have a Hyundai Elantra to drive for work and that thing is pretty nice. decent acceleration and handling, nice fit and finish. Overall very nice car for 13k new with a 100k warranty. The new Genesis looks ballin!

jaiman · 10-05-2008, 10:25 AM

What ever you dad does he seems to do well at it. Is there any reasopn to belive his skills would help him build a good car dealership? if so go for it.

Lots of money has been lost by successful people venturing outside of their area of expertise.

BoostedBMW · 10-05-2008, 10:50 AM

Hyundai dealership... yes

Mitsubishi dealership... no

My dad's friend has been a partner in several Nissan dealerships on Long Island for many years now, and he also just aquired a Hyundai dealership, which has been doing fairly well, but if you ever ask him about Mitsubishi he always says that they are on the verge of bankruptcy as far as their auto division goes. Mitsubishi ruined the only two selling cars that they ever had wtih the galant and the eclipse. The only thing that they produce that is decent is the Evolution, and even that feels like a tin can.

Unless the numbers were very good I wouldn't even think of owning a Mitsubishi dealership.

lauer87 · 10-05-2008, 11:24 AM

I'm assuming that both dealerships share the same real estate. The only way I would consider it is if the lease on the building/land is reasonable, and I would contact Mitsubishi about buying back the franchise or just giving it up. It COULD make financial sense, but you and your dad are going to need a specialist in dealer aquisitions because you have so many variables to consider. Things like parts inventories and such often come into play in transactions like this, and if you aren't familiar with the industry you could be screwed over pretty badly. Due diligence is a must in such a transaction.

E. Honda · 10-05-2008, 01:37 PM

Quote:

Originally Posted by xxballinboi786

lol...his friend is selling and offered it to him...their going to look over the numbers today..just show off and brag and if you guys think its a good idea

Fixed!! :P

I kid, go with Hyundai. They seem more promising.

Speedtrap · 10-05-2008, 01:40 PM

The new Mitsubishi Lancer EVO X is a great car

Can you swing him around to that?

10-04-2008, 12:38 PM	#1
xxballinboi786 Captain 444 Rep 734 Posts Drives: Lamborghini Join Date: Jun 2007 Location: NY iTrader: (0)	Dad is considering buying a Mitsubishi/Hyundai dealership...good idea? The dealership in question is Potamkin Mitsubishi/Hyundai in Manhattan. Good idea? Why or why not. Thanks
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10-04-2008, 12:44 PM	#2
Amir87 Gruppe Titan 262 Rep 2,839 Posts Drives: 08 E92 SG/Coral Join Date: Sep 2007 Location: NC iTrader: (37) Garage List 2008 E92 335i [10.00]	LOL I misread it and was like WTF, your dad just got a lambo and he wants to buy a Mitsu or Hyundai, of all cars. __________________
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10-04-2008, 12:57 PM	#4
rich662 Major 41 Rep 1,030 Posts Drives: E92 M3 Alpine White Join Date: Jul 2006 Location: Richmond, BC iTrader: (1) Garage List 2006 330i [0.00]	seems like ur dad is pretty good with his money, so probably wouldn't be a bad decision if he does go through with the deal __________________ 2008 E92 M3 AW/GP Thunder / Eisenmann Race/CF Grills/H&R Sport/AA SSK/ACS CF Roof Spoiler/VRS Bootlid/BBS LM-DBK 20" Champion Edition FS: DPE LS-5 (for sale: http://www.e90post.com/forums/showthread.php?t=171839)
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10-04-2008, 02:05 PM	#7
ALPINE6SPD Lieutenant General 156 Rep 10,411 Posts Drives: 2010 BMW 328i Sport Join Date: Dec 2005 Location: Highland Lakes NJ iTrader: (2)	I would by a Hyuanadi dealership in a heartbeat. In the futre they will be a serious competitor to Honda and Toyota. They are already getting there. Mitsu has NOTHING even decent coming out soon. I would NEVER own a Mitsu dealership. Mitsu = Ford of Japan. __________________ 2010 AW e90 328i: 6 speed, Black Leather, Dark Wood trim, ZPP, ZCW, ZVP,ZSP, Nav, Xenon BMW Performance CF Rear spolier and Gloss black grills 2008 Candy White MKV GTI 2.0T 6 Speed Manul Gone 2008 AW X3 3.0si: 6 speed Returned 2006 AW e90 330i: 6 speed Dinan Stage 1 Returned
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10-04-2008, 07:21 PM	#9
asdflkijd Aberry is a scammer 558 Rep 5,507 Posts Drives: SGM E92 335i, AM E90 335i Join Date: Jun 2007 Location: Seattle, WA iTrader: (14) Garage List 2008 E92 335i [10.00] 2007 E90 335i (Reti ... [9.00]	hyundai yes, mitsu no. lol you dad should scrap the mitsu and get a kia LOL.... hyundai/ kia dealership = $$$$$$$$$$$$$$$$$$$
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10-04-2008, 07:48 PM	#11
2K5 325i srsly *****'n! 11 Rep 162 Posts Drives: 2007/8 TiAg 335i 'Vert Join Date: Sep 2006 Location: Atlanta GA & Boulder Colorado iTrader: (0)	There is some shitty advice in here. Kia? Are you guys serious? -Chris __________________
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10-04-2008, 08:08 PM	#12
TiAg335i Trance Life 315 Rep 4,706 Posts Drives: 2007 E92 335i Join Date: Jan 2007 Location: Long Island, NY iTrader: (4)	Taking advice from a forum on matters as risky as this is never a good idea.
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10-04-2008, 09:04 PM	#14
.:bHd:. Major 331 Rep 1,149 Posts Drives: E92 335i MT Join Date: Feb 2008 Location: So Cal iTrader: (0)	There is a reason why its being sold in the first place __________________
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10-04-2008, 10:12 PM	#16
fasterthanyours New Member 5 Rep 7 Posts Drives: Chevy Colorado Join Date: Sep 2008 Location: Charleston, SC iTrader: (0)	You just don't get out of something "as profitable" as a car dealership for no reason. New car sales aren't where the money is anyway, it's used car sales.
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10-04-2008, 10:33 PM	#17
darkcloud Colonel 335 Rep 2,385 Posts Drives: 09 VW JSW Join Date: Aug 2006 Location: cleveland, oh iTrader: (2) Garage List 2006 325i [0.00]	^^^ That's pretty gifted of you to double post 5 minutes apart from each other To the OP, I have a Hyundai Elantra to drive for work and that thing is pretty nice. decent acceleration and handling, nice fit and finish. Overall very nice car for 13k new with a 100k warranty. The new Genesis looks ballin! __________________ retired 06 E90 325i New: 09 VW Platinum Grey Jetta Sportwagen 2.0T SEL w/DSG, panoramic sunroof and Ipod adapter
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10-05-2008, 10:25 AM	#18
jaiman Captain 20 Rep 658 Posts Drives: very fast Join Date: Jul 2007 Location: Toronto iTrader: (0)	What ever you dad does he seems to do well at it. Is there any reasopn to belive his skills would help him build a good car dealership? if so go for it. Lots of money has been lost by successful people venturing outside of their area of expertise.
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10-05-2008, 10:50 AM	#19
BoostedBMW Moderator 132 Rep 6,775 Posts Drives: TiAg E92 335 Join Date: Oct 2006 Location: Raleigh, NC iTrader: (14) Garage List 2003 S2000 [0.00]	Hyundai dealership... yes Mitsubishi dealership... no My dad's friend has been a partner in several Nissan dealerships on Long Island for many years now, and he also just aquired a Hyundai dealership, which has been doing fairly well, but if you ever ask him about Mitsubishi he always says that they are on the verge of bankruptcy as far as their auto division goes. Mitsubishi ruined the only two selling cars that they ever had wtih the galant and the eclipse. The only thing that they produce that is decent is the Evolution, and even that feels like a tin can. Unless the numbers were very good I wouldn't even think of owning a Mitsubishi dealership. __________________ -Michael. Berlina Black S2000 CR is now in the garage l 19" Rial Daytona Race l KW V2 l Eisenhaus Race Exhaust l
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10-05-2008, 11:24 AM	#20
lauer87 Lieutenant 8 Rep 586 Posts Drives: 335xi Join Date: Sep 2007 Location: USA iTrader: (0)	I'm assuming that both dealerships share the same real estate. The only way I would consider it is if the lease on the building/land is reasonable, and I would contact Mitsubishi about buying back the franchise or just giving it up. It COULD make financial sense, but you and your dad are going to need a specialist in dealer aquisitions because you have so many variables to consider. Things like parts inventories and such often come into play in transactions like this, and if you aren't familiar with the industry you could be screwed over pretty badly. Due diligence is a must in such a transaction.
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10-05-2008, 01:40 PM	#22
Speedtrap Lieutenant Colonel 57 Rep 1,798 Posts Drives: A very fast car :) Join Date: Sep 2008 Location: London iTrader: (0)	The new Mitsubishi Lancer EVO X is a great car Can you swing him around to that?
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