Leaderboard

One of the best pieces of advice I was given a year ago was to not listen to other traders. It’s excellent advice. There are far too many doom mongers out there. OP, buying five grand stock isn’t that much different to £500 stock. You need to prep better cosmetically but as long as you are doing the job right, selling sound cars and giving good customer service, it’s the same thing. Buy some stuff you like and see how you get on. Get some miley newer stuff, lower mileage older stuff, hot hatches, diesel barges and see what works. Or, more specifically, what you enjoy.

Focus more on what you are good at.Work harder on the buying side,it is the same for everyone.Its not just cheaper stuff that comes with big bills.Don’t believe other traders too much,the job is full of bullshitters,it always has been.

Hi All, Firstly, the customer has made the payment again, and I have received the funds again. This was after making it clear to the customer I wasn't renegotiating the price, and they needed to make payment again, or I was coming to get the car. To answer some of the questions above, the payment appears to have come from a personal account (also HSBC if that makes a difference) as the credit narrative contains their name (rather than any sort of business name, but of course it could be a sole trader account). The transaction type is 'BP' - which I understand is bill payment/faster payment in HSBC parlance. He made the payment to me, as people do, on his phone while buying the car (and using his security token thing) - so I don't think it would be a BACS/CHAPS payment. Once I have recovered I will make a formal compliant to HSBC and see what they say (if anything), but I have no bank manager or particular sway. I just speak with the 'phone banking call centre whenever I do call. How did he get it recalled - saying its a fraudulent transaction - that is my suspicion but I have nothing to base it on, and given he used his security token and his 'phone app how he gets the bank to agree it's fraud - I don't know. The bank recalled it themselves of their own bat - this is another possibility (after all the guy answered my calls, and has paid the money again) if they thought it was suspicious. However, normally they don't let the payment go through in the first place and you have to hang around while the customer calls their bank and gets the payment 'released'. Just reversing it 24 hours later seems unacceptable. I may taken some time, but I will post any further details / information. Thanks all.

Welcome Miles. This is the first time I’ve heard of this happening. I didn’t know it was possible to reverse a bank transfer? It’s extremely worrying as the majority of us receive large amounts via bank transfer on a regular basis. It sounds as though there is a mistake somewhere! However the customer has noticed it and taking advantage. Personally I would phone the bank again and not put the phone down until you get an answer. Once you have an answer I’d be going round the blokes house and having it out with him on his doorstep without prior warning. This is bang out of order and makes my piss boil just thinking about it.

A lot more people are completely strapped up. With the ease of PCP deals “rent a car” schemes used cars aren’t so attractive. But the ones who can’t get PCP can’t afford to maintain their own cars, it’s a vicious circle. The whole game is changing, as I always say it’s a rollercoaster.....

This is so true, don’t worry about other people and what they are doing, if you start comparing you’ll just end up changing your formula for success every month, week, day and then before you know it you’ve lost your identity. One of the problems with this job is you always think the grass is greener on the other side, but in most cases it isn’t. In this day and age you can either be a race to the bottom dealer with little prep and just running round like a headless chicken or you can somebody who sells good quality cars, prepared to the highest standard, providing a service that deserves profit, these are the customers we want not the bottom picker customer who 9 times out 10 end up being a nightmare anyway.

Roadside pitches aren't all they're cracked up to be. I have a great one. Probably results in 1-3 sales more a month. Customers seem to prefer a roadside setup versus a unit though.

At least you know what's wrong with it We had a customer complaining about an intermittent EML light EGR related fault on a car once. Next I saw it at BCA Bedford. Nice relief.

I call it double minting mint it out its tree walk away walk back mint it again then you know first genuine person to see will never find better, indeed they have been looking for ages, so unless they really arent in the position to proceed ie they need their mums hand, you have a sale

I often tell my guys to forget value a £2500 Focus is as new to one customer as is a £15000 Focus RS to another, each needs to be prepped to the best of our ability and sold as such.

Me too but lately they are a bit of a struggle. Their buyers are switching towards small and medium MPVs, SUVs, 4x4 of the sort that didn't exist 7-8 years ago. They also like to buy petrol estates now in my just-out-of-London area. Give them a year of high fuel bills (E Class Estate petrol auto, can you imagine the real life MPG!!!) and just as many reliability issues and diesel estates will make a minor resurgence.

As Nick, monitor response but try at 2995 and move to 2495 as you go. be sure to list for free on carandclassic too

Cars at 5k just need as much work doing as cars at 2k in my experience when it comes to prepping. Margins are increasingly squeezed across all sectors and you have to put extra effort in to finding stock. Its tough at the moment. Very tough but you can still do well and find good profits if you are prepared to work harder and smarter.

Your current market is where I am and I agree it is very hard, for example today there was a 2006 Nissan Note 1.6 SVE, Good Spec, 97K Mileage, Some History, Nice car a couple of dents but would of retailed for £1695 / £1795 on my pitch.. today this sold for £1050, cap clean is £910, CAP is miles out for Nissan Notes and they never make clean. 4 Months ago I bought the same car in a respectable condition, slightly less spec for £475 hammer price and sold for £1495 No prep other than an MOT and Service. The problem with this end of the market as I'm sure you're aware it attracts all the fly by night traders, Asian and Polish Car sales groups who are flipping cars for £50 profit and it is only getting worse.

This question comes up regularly. There is no answer, you have to find what suits you, find your own niche through trial and error. We can’t teach you that.