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We have had a self funded scrappage scheme for years, it's called the MOT

sorry govt has put that on hold one now has to tell customers their cars are uneconomical to repair,get them off them for peanuts and sell them to stashio link here

I first got into the trade in the late 1970's. My father and grandfather were both in the motor trade - service and repair (mostly trucks in the case of my grandfather). I obviously had access to a fully equipped workshop and by the time I was 18 I had a driving license and could do pretty much any mechanical or electrical repair, welding, basic panel beating, loading, painting etc. I started out buying rough/damaged Spitfires, MGs and other Triumphs such as GT6 Vitesse etc. for repair. I made a profit but not much given the work involved. In the late 80's and early 90's I tried with repairable salvage. Had a Chief body jig at the time. Again made some profit but not a lot given the time investment requirement. As the rules and regs tightened up I packed it in. I really made my money with careful buying of proper 3-10 year old cars that required minimal prep. Plus service/MoT and repairs of this demographic. Turnover is king. Buy right. Get it prepped and get it out of the door as quickly as possible. The last thing I want is money tied up in vehicles awaiting repair. My view is... 1. Don't mix business with pleasure. Restoring old cars for sale is a massive time-suck. If its a hobby/sideline then fair enough, but not the way to pay the mortgage. Restoring rusty low-value stuff will mean you're working for less than minimum wage. 2. The cars will be at least 20 years old - but the customers will expect the things to be in mint condition and run like a Swiss watch. Makes me laugh on programmes like Wheeler Dealers, Flipping Bangers etc. Buy at £5k, spend £2k on parts. Sold at £8k. 'Oh, we made £1k profit'.... Well what about the 40 hours labour in a fully equipped workshop etc etc.?

depends what your selling, if you are selling stuff up to say £10k the relationship between a dealer and finance house becomes straight forward, no need to have multi lenders, can't see any finance company's loosing sleep in the next year over a customer defaulting on say a £5k ex fleet car, the future value of the car is not such an issue. bit different for supercars, profit is in the car not the finance deal, it's not a case of propping various lenders, the customer doesn't need qualifying, it's totally about matching a lender to a specific car and customer, these customers are not mugs, hence you need a bigger selection of lenders, the reason for the exit as mentioned is the future value of the car in this sector is an issue, a defaulting customer or a future RV shortfall on a £200k car that's lost £30k-50k in a recession is a major problem, it's easy to understand how some lenders will loose the appetite to lend with the inevitable down turn that's coming. was just curious if anyone had been informed of lenders withdrawing support on the cheaper stuff? trade vet - yes commission paid in a different form has been talked about, but fca not likely to say you can't earn commission? some dealers can't grasp they arn't going to be earning as much commission just presume they are going to get paid current rates in a different way, need to be more worried about any capping of rates and APR, if the FCA turn round this july and say you can't use non prime at over 10% APR anymore (example, unlikely?), how many dealers would loose their lenders?