Popular Content

Showing content with the highest reputation on 03/03/21 in all areas

  1. 1 point
    Yes, my gut instinct is that it's a wrong 'un but the older get, I seem to think that about nearly all auction cars are unless they are ex-lease!! In the end, it made more than I wanted to pay anyway! Jags are hardwork to buy now as there are quite a few specialists about that seem to be able to command top retail money for them.
  2. 1 point
    Being on a stocking loan is the least of your worries.Unless things have changed,I doubt Pendragon would be ‘blocking’ a Grade 2 Low miles 14 Jag without it having something untoward they couldn’t fix.If it had been entered by Bristol Street that could be a different matter.Where we are they block a lot of very good ready to retail stuff presumably because of cash flow.
  3. 1 point
    Many thanks for the info, much appreciated. I didn't even realise that main dealers used stocking loans on their PXs until today - it does make sense as a lot of lumpy PXs can add up to a lot of tied-up funds. I agree with Tony F that I originally thought a big dealer group wouldn't need to use stocking loans. I thought they were mainly used by those fairly new to the trade who want to kick start a 20 car+ business. When I had a pitch in the 90s, I don't think stocking loans existed - as far as I'm aware, BCA and Manheim have only been offering them for the last few years. I was a bit shocked at first to find an auction car on a stocking loan as up until today. I'd only ever expect a stocking loan to come up on a retail car advertised at a dealer. Going back to the car, it's a Grade 2 low mileage 2014 Jag worth about £10k so I'd have thought it would fit the stock profile of the vendor (Pendragon who own Stratstone Jag) It has a small scratch on a door but otherwise looks pretty much ready to retail. I noticed that all the revolving air vents are closed in all the auction photos which is pretty odd as normally they open by default when the ignition is on. I'd imagine they work ok though as normally if there's a problem, it's more likely that one doesn't work rather than all 4. The Assured report is all clean, admittedly that doesn't mean there aren't possible niggles. The other thing I do (which probably sounds paranoid!) is to check when the tax expired on all auction cars. While I appreciate that there can be delays, I tend to find most cars go from the part ex yard to the auction remarkably quickly - most cars lotted up in auction were last taxed about 10 days ago. This Jag has never had a private plate and it was last taxed 31st Jan and it was appraised by BCA on 26th Feb so my paranoia wonders if the car was intended for the forecourt, then a fault was found and it was decided to put it in the auction. In the past, I've a Googled a few BCA main dealer PXs and I see that the main dealer has tried to retail them and then after 30 days or so put them in the auction. I quite like these as I tend to think if the dealer was retailing it, in theory there shouldn't be any major faults. As far as I can tell, the main dealer has never tried to retail the one I'm interested in. What I find quite bizarre is that a lot of overage stock cars are snapped up by independent dealers at auction and advertised at a higher price than the main dealer failed to sell it for! Quite often, they sell them fast though - you'd think people would rather buy from a main dealer for the manufacturer backed warranty. Anyway thanks again, I'll be interested to see what that Jag makes tomorrow. I probably over-research them too much. The last few I've seen have made way over clean and they were all UK Car Group cars which I normally tend to avoid.