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This is Fred Ball for Zions Bank, speaking on business.
Many teenage kids spend their summers vacationing with family and friends while also holding down a part-time summer job. Dennis Boots, however, spent his summers as a youth learning the ins and outs of the used car business. At first Dennis worked on a car lot his father's friend owned washing and cleaning cars. Soon after, he found himself accompanying the owner on car-buying trips, which piqued his interest in car retail.
After attending college, Dennis decided to try his hand in the corporate world, but four years later he opted to return to the used car industry. Dennis's father provided him with the initial capital to get going and in 1993 Dennis started his own used car business, Boots Motor Company. Initially, the fledgling car lot sold between three and five cars a month, and operated out of Orem. Dennis tells me business since then has gone quite well and he now sells anywhere from 15 to 20 cars a month.
Two years ago, Dennis moved his company to a lot in Provo on the corner of 330 South and State St. The lot has enough space for over two dozen vehicles and features a cozy office with an adjoining garage for auto repairs and detailing. As I wandered around the lot I noticed all types of cars for sale, SUVs, mini-vans, sedans and sport coupes. When talking with Dennis, I was quite surprised to learn that the cars were no more than five years old and all in good condition. Dennis tells me, the secret to the used car business is not in the selling of the car, but in the purchasing of the car.
Ten days out of every month Dennis travels all over the nation, wherever the market is good, looking to buy quality vehicles for his lot. Most cars are acquired from leases, and each one is fully repaired from top to bottom before even being placed on the lot for sale. Dennis says the cars sell themselves and from the looks of it, he's right. Dennis loves what he does, and since opening, only one car has been returned to Boots Motor Company.
For Zions Bank, I'm Fred Ball. I'm speaking on business.