How I Built My $3 Million Business Buying Cars At Auctions

Craig Stowell owns Flying Wheels, a car dealership in Danville, New Hampshire. Valued at an estimated $3 million, Stowell’s business buys about 80% of its cars at auctions around the country. In 2022, the U.S. vehicle auction market was valued at $3.21 billion. Flying Wheels reached $1.3 million in sales last year. Many of those sales came from his online followers on KZbin and other social media. Watch this video to learn how Stowell built his $3 million business buying cars at auctions.
Produced by: Nora Rappaport, Emily Lorsch
Senior Managing Producer: Tala Hadavi
Camera by: Billy Freeman
Graphics by: Christina Locopo
Additional Footage: Craig Stowell
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How I Built My $3 Million Business Buying Cars At Auctions

[@lukelaming3445]

Impressive to see Craig on this… he’s a great KZbinr, really likes to show the good and the bad side of things instead of just sugarcoating it to make it seem much worse then it really is.

[@juanojeda8069]

That's great I'm looking for that also

[@adrian33161]

Wouldn’t sugarcoating make it seem better than it really is?

[@SunnynPhilly]

@@adrian33161 yea I think you’re correct The Edge. Saw you in concert once, great U2 show 👍.

[@tomriddle-fs4ur]

​@@SunnynPhillyhe's correct.....

[@MikeMane-ex1vf]

He is a great liar too.

[@bayram493]

I’ve been watching this guy on KZbin for the last 3 years he’s great and has very valuable information.

[@10YearOldTom]

Same here.

[@droopythebeagle2783]

Since watching him on KZbin. I have learned a lot of what he does. For me. I like cars. Why I say " Cars my thing." Not just the cars themselves. But the business and cars shows, etc. So much about cars. So watching Flying Wheels on KZbin helps myself. Being a autistic adult. I have graduated high-school. Some college. Worked many places. And interviews and fitting in isn't easy. But autistic people not just myself are smart. "Unique." So watching Flying Wheels on KZbin is great to watch, learn and let's me continue to learn about cars and the automotive industry. Everyday I continue to learn something about cars. Never stop learning. I have been to car auctions ( public ones). Never done what Flying Wheels has done but always want to stay in the automotive industry. So I just watched this video you have about Flying Wheels. I learned even more about how cars are bought and sold thru auctions. And more about Flying Wheels. Very good choice to do a story on Flying Wheels. I will continue to watch Flying Wheels on KZbin. Never myself have done what Flying Wheels has done. But I've owned many vehicles myself since twelve. Took one apart at twelve. ( school not easy and found since little I like cars). So again. Great choice to do a story on Flying Wheels. We live in a digital age now. I say: " If you can't keep up with technology, technology won't wait for you." And also. Autism. At times it seems hard to do things. But don't give up. And be proud of yourself. We have strengths, skills and great ideas. Again. Great video on Flying Wheels CNBC.👍

[@jonr6680]

This guy is successful because he hustles, and he knows his business. The overhead is eye watering and covid showed that no business is bullet proof. Good luck to anyone who can take the risks and keep smiling.

[@henrykim4230]

Craig is my favorite car saleman. He's honest and he always wants to help his customers. He goes beyond what he's supposed to do. i like him. He has a cool boat :D

[@effay83]

I went to a car auction with a dealer friend in my early 20s in Manheim PA. It was a great experience, one that I still fondly remember today. It's hard work. You have to do volume to make a good profit.

[@FlyingWheels]

Thank you so much CNBC! Here's our youtube channel link kzbin.info

[@girishgosyne4663]

Craig's awesome, I've been watching his videos for years now! He works hard and shows you all aspects of the business! Great feature!

[@FlyingWheels]

@@girishgosyne4663 Thank you!

[@Itsdre416]

I've been watching flying wheels for years, If only small dealerships followed the way he does business.

[@Kylehoulihan]

Oh my god!!!! I’ve been watching his KZbin videos for a while and now to see him here is crazy!!!! Keep up the good work!

[@verynick]

I like his transparency and I think that’s what makes him successful!!! I wish my local car shop or tire place or tax person all do vlogging so that both parties can see whole thing!! Haha

[@tommasoscalese]

This is how capitalism works in real life. Craig is great and the people like him move society and bring it into the future

[@8figureant516]

As a dealer I can relate so much glad I found this

[@Tylnorton]

That Ford Focus at 2:18 was mine. I traded it in for a 2012 F150. Craig said 4x4 works good but it did not and it still does not. Fortunately with better all-terrain tires I bought, it does just fine snow until I can try and fix 4x4. Craig did help me out with an airbag light since it can't pass inspection in Massachusetts. His mechanic wasn't able to fix it, so he went to others until someone did prior to trading Focus in. End of the day, I got somewhat a good deal considering it's a rust free truck from Virginia and I have posted some videos with it in snow last month. Craig, if you're reading this, I hold no grudge despite 4x4 not working, and I wish you nothing but the best with Fly Wheels! And I hope someone enjoys that Focus because I made memories with that car.

[@FunStuffBuddy]

It was acknowledged briefly but these big sales numbers are so misleading since that’s not even close to take home pay after the significant expenses of running it. “100% return on investment” is bogus.

[@agdrummer2610]

Good for Craig. Seems like a good dude.

[@rudysalas9138]

With my automotive knowledge and experience, I have taken my hobby to buying and selling cars. I’m doing very well and hope to soon enter the dealer auctions. Great side money

[@austinhernandez2716]

I thought about this too, buying, fixing and flipping cars. I'm trying to start many businesses. Junk removal, metal scrapping, car flipping, furniture delivery. Just trying to be independent

[@boksugoks9312]

Man, so glad to finally see a mainstream business media feature on Craig, if only he still had German as his right hand man 😢

[@TheBattleMaster100]

Very rare to find an honest car salesman. I like his mindset. Very down to earth and professional. ❤

[@rickstevenson9585]

It’s almost mandatory at this point. If you’re going to be an entrepreneur, you HAVE to have an origin story that includes a story about your great great grandparents getting off the boat with literally nothing because grandpa immediately sold his shirt for a loaf of bread to feed the whole family for the next month.

[@will.davlin]

we need a prius with 8 inch ground clearance cuz roads are so bad

[@shaham712]

Learned so much about the car market watching Flying Wheels KZbin videos.

[@gm1258001]

Oh wow! Great work Craig. Been watching your videos for awhile and great to see you getting featured.

[@qualityautorepairtireautosales]

Thanks for sharing...Every he said is 100% spot on. I own a Auto Repair Business (main business) and I also have a dealers license. I use my dealers license to mainly buy and sell with my Repair Customers! From my experience people prefer to buy/sell with repair shops. In the city I'm in 3 other repair shops also have their dealers license. With that license I'm able to help my customers 3 different ways. 1. Selling them a Quality Used Auto...They know with in 30 days if something is not right I make it right! 2. I buy vehicles off my customers that I can repair and feel good about reselling! 3. I get customers who have a derelict vehicle that we don't want to retail...Instead I'll sell at dealer auction 'AS IS"

[@nhlanhlamakhubu4666]

i love these cnbc videos, makes me feel like i just read a book

[@herevlad1]

Love that he's very honest

[@510Live]

manheim in California is much more savage, the market here is heavily saturated with small dealers everywhere. it's a completely different ball game depending on the state your in...especially when your state is banning the sale of all new gas vehicles by 2035; it all trickles down. love Craig, he's excellent. they should've gave him more time in this video.

[@amazingaviation3223]

Watched this guy for awhile! Lots of respect for this, God Bless!

[@jagerdager07]

Craigs a great guy! As a second generation car dealer here in Canada love his channel! Love the success!

[@officeraurilio]

Great Interview, keep up the great work!

[@rorosnusnu2035]

Didn't expect to see Craig here!

[@hotshot1574]

Shout to Craig proud of you man you’re going up!

[@iWasBetterOffDead]

love these videos as always, keep em coming

[@axm203]

Congrats Craig!

[@G.M85007]

I've enjoy watching his videos. Hes pretty cool guy.

[@TylerChristoher]

I'm going from detailing, spraying truck bed liners at the auction here, to hopefully having my own small dealership like Craig here. Need money to start

[@freddyhollingsworth5945]

I've watched Craig for years. He is honest and works very hard and he does the right thing, even when he doesn't have to. I live in Arkansas and I trust Craig enough to buy a car from him blindly.... He is amazing....

[@FlyingWheels]

thanks Freddy!

[@moparrdudee87]

This is a really good KZbinr ! Seems to be an honest guy too. Good info as well

[@FinancialShinanigan]

How much for that GTR at 5:40?

[@vognmandpedersen8144]

Craig is hardworking, not many puts in the hours and energy that he does!

[@samsonsoturian6013]

Or starts out inheriting a multimillion dollar business

[@FlyingWheels]

@@samsonsoturian6013 started in my driveway with 1 car

[@janicestowell1527]

🤦🏻‍♀️ His parents are high school teachers

[@samsonsoturian6013]

@@janicestowell1527 either he's a liar or you are

[@carsonac4163]

Way to go @flying wheels. Keep it up!

[@woodrowbunopaddle]

These paid adverts need to stop. The average public thinks this is just news. Please people !!! Really Vet what you see on KZbin

[@damnkids9999]

love this guy this guy and scotty kilmer great people

[@giogonza8741]

Love his content

[@TT-ik3kd]

😂 puts one new tire on

[@orlandocastillo6862]

Love his KZbin channel

[@PremierAutoMan86]

Craig...Flying Wheels!!! Congrats love his channel.

[@cameronvincent]

Was wondering why he looked so familiar at first ahah

[@daviidee1]

Craig let’s get you a tv show! 📺

[@FlyingWheels]

Working on it😁 🤞

[@ericmeurs9021]

Love this man’s KZbin channel. Some good life lessons

[@Tylnorton]

I am trading in my truck that I bought from him 6 months ago. It had nothing but problems. Was told 4x4 works, it doesn't. Brakes were so bad and it unsafe. Constant misfires. And the cherry on the top was it needs a new timing chain and solenoids which is a $4000 job. At 2:16 in the video, was my Ford Focus in the background. I traded that in for the truck I bought from Craig. The worst part was he doesn't even know the vehicle history because we had to do the carfax ourselves at that point I should have never bought the truck. He needs to be honest and provide a carfax you can't just buy vehicles at auction and then just sell it the next day.

[@user-kh7mm2he8b]

Absolutely Outstanding Video! Smart Man.

[@JoyTothesummer]

In this business is all who you know. You gotta be well connected

[@joselastname448]

omg R32 at 5:40

[@bigchief113]

Great to see FLYING WHEELS on CNBC!

[@csp8490]

I live in hawaii. Used car dealerships are selling used toyota tacoma or 4 runners for more than the brand new price. Disgusting. I wish there were more honest used car dealers in the world

[@ThisHeatOnly]

Mustang cobra is underrated in terms of chill drives

[@YoMateo.]

Who didn’t come from TikTok raise their hands.✋

[@JSM.]

Great video Craig!

[@gibbonholder3274]

Ras House Music 🎶 Laborie Beach ⛱️ St Lucia

[@williamwade7059]

Cool guy, I'm a Subscriber can't wait for Toy season.

[@rezartpinderi4418]

Wonderful job Craig

[@akorarichard4395]

A really good business man

[@antoniocastilloiii3465]

how much is that R32 in minute 5:40?

[@FlyingWheels]

Gtr. We also have an r33😁

[@borlanderobertson5666]

Craig's the best Flying Wheels Baybee

[@TeamSpacePants]

I saw an R33, please tell me he has a few of those!

[@chanandler4567]

There’s a R33? There was a R32 @5:41.

[@makindeoye]

Congrats Craig

[@BrettFightorFlight]

Good story and excellent editing

[@auro1986]

how? cars with internal combustion engine with petrol as the fuel

[@imme267]

What I got from this video - Steps to a successful car dealer: 1. Go to car auctions 2. Cold showers 3. Hustle 4. Have a rich grandparent that loans you money to start the business

[@nickvdk11]

watch the video again and be self critical in your comprehension skills

[@FlyingWheels]

All but #4

[@janicestowell1527]

Grandfather retired auto high school teacher. Get your facts straight

[@brad2943]

@@FlyingWheels You said grandfather owned gas stations?🤔

[@thecarsurgeon529]

30sec-3min to look at each one? That is false, you can go the morning of, or even days before to look at the specific vehicles you want to purchase.

[@kelbale]

I'm here from Flying Wheels!

[@ostab]

I following this guy from Dubai and i like his videos 😉

[@apaggio8406]

Very creative, fun to watch his KZbin channel

[@monkichiboi4003]

LMAO "I CANT GET THAT IN THE STOCK MARKET" HAHAHAHAHAHAHAHAH

[@nyacoustics8373]

142 cars sold doesnt add up to 3 million bucks. not with those piles of crap he is buying. the numbers dont add up.

[@shaham712]

I was about to scroll down but noticed Craig from flying wheels in the thumbnail.

[@Parckie]

Really nice to see gross margin categorized as net profit 😂

[@iVitaliy1]

That’s Craig !!

[@shanet152]

"My great grandfather came here over a 100 years ago from italy.... and owned gas stations" Lol... Must be nice.

[@CarPhonix]

Flying wheels!!!!! Wow!!! 🎉

[@mobandzz773]

Crazy Craig on this congratulations 🎈

[@zeljkokajic3142]

I live in Europe and wach his KZbin Chanel for 2 years now, I'm waiting for Ferrari flip 400$

[@AE-dx2pl]

2023 $3M biz. 2024 half of it.

[@FlyingWheels]

I hope not. Fingers crossed

[@travelingfool9096]

His tube Videos are are fun and informational.

[@mikemats2858]

used car business is a tough one !

[@growthnetics5407]

Am I the only one who thinks the numbers aren't adding up? Between the total cars he sold in 2022 vs the monthly expenses? Like 50k per month on expenses seems off.

[@peterbeeley7209]

Love it

[@Mist3man4423]

What car do you drive personally?

[@motorvation8329]

as in 3 million in revenue annually?

[@JonBlondell]

Ya Craig!!

[@leedirtybriches]

Used car auctions are the shadiest place on the planet. Dealers actively trying to screw each other

[@jeffmac3071]

Love Papa Al!

[@FlyingWheels]

He didnt make the final cut :(

[@justinlemay5563]

Hey it's Craig 😀

[@vettys]

I'm glad to see You in cnbc man!

[@DougCam-ed5tc]

Good job Craig

[@christopherstrong880]

Just about buy good quality cars!!

[@DeanBKK]

Did you not listen to anything in the video? At auctions you only get 30 secs to a minute maximum to look at the vehicle and make a decision to bid or not.

[@ponifasio]

Let's go Craig!!!

[@Re_RAM]

$3 million buys you 6 2023 Range Rovers or 3 Ferraris in South Africa.

[@Re_RAM]

@Zaid Hussain duties on luxury cars here are insane, regular cars aren't much better.

[@clubracer6]

My dream gig…

[@dizk5283]

Yooo it's Craig🔥