Car Wash Loans – Don’t Get Hosed Trying To Get Car Wash Financing

In today’s financing environment, it really doesn’t matter what type of financing one is trying to obtain, it is more difficult and the process takes longer. That is fact. Car wash loans certainly fit this mold. Car washes can be cash cows. Depending on the type of car wash (rollover, tunnel or self-service) profit margins can be in excess of 90%! It is is also a cash business. The long and the short of it is, if you’re looking to buy an existing car wash, there is a good chance you might not looking at the numbers the site is actually doing based on the tax returns. Some of the newer car washes are including more profit centers such as oil and lube changes without having fuel. In general, it is easier to get a loan than it is to get financing for a gas station or convenience store with a car wash. While there are potential environmental concerns at a car wash, from a lending point, it does not compare to potential environmental problems at a gas station.