trade vet

I remember when in the 90’s,pitches advertising in AT mag were cropping up and making serious money selling imported Evos and Impreza crap to Riff Raff.They had some way of evading the import duty but by advertising them they alerted the authorities and most of these guys got wiped out financially.......BTW I was a big fan of Zafiras and most 7 seaters,we did good business with them.

I have never come across a ‘ Popemobile Aficionado ‘ before .I seem to recall that you could nick them at the block as most of the trade sreered clear.The punters liked them.....’ made from unobtanium ‘ love it.

I would be thinking there is a deal somewhere here.Depending on how much deposit he wanted,I would not have dismissed the idea.With due diligence and T&C’s worded in your favour allowing for a price chip in Sept.etc.Then again there is probably another story to it !

Supposed to be,technically yes I am.I like being on the pitch,checking the stock,talking to punters and hearing the day to day problems and discussing how to solve them.( not tech problems because modern cars are generally shite ), which gets me annoyed. Mind since lockdown haven’t been very much.Anyway,straight sales with no swapper to retail on or some prime finance are not worth doing especially now when stock is hard to replace.( it may be different for doorsteppers ).

The negative posts tend to be the more accurate ones.This job is not easy,but give it a go.On the way you must be prepared for some big mistakes and you will have to learn to blow money on some cars.You will have plenty of set backs and things will happen you have never even thought of but you will have bonuses aswell.If you survive the first 2 years you will have a good chance of success.You can get some good advice on here as people like to help. Good luck.

I don’t think the taxpayer will be liable for bank lending errors.They will know who they have issued loans to and those who receive them with their connected parties will be made personally liable for their repayment. I can imagine the banks will be charging those who default penal interest rates and will not think twice about snatching money back from the wrong people.You know what they are like,they will probably profit from the defaults.

Don’t like straight cash deals unless it is on old stock.On the odd occasion I have said sorry no discount we would prefer to wait for someone with a p/x unless you have something to put in.Then they say something like Auntie Barbara has a Micra she doesn’t use any more and you get that instead and retail it.

Lesson 1 Forget Copart and try buying proper cars.You won’t make any money resurrecting damaged goods,it takes too long and you will attract too much aggrovation.You might be better off continuing as a pub manager and watering down the beer. !

Make sure to ‘milk it ‘ and embellish it.

It is a long time since we operated down there.3 grand per month for rent and rates sounds very cheap to me.Have you checked the cost of good insurance cover because despite having 20 years no claims with Aviva,they and a few others refused to give us a quote. 14 cars is a nice size ,however you only want short term loans from your investors otherwise they will want to be involved.

Hi Faz Does 3 grand per month include business rates.You need to bare in mind that because you can now sell ex lease stuff there are no guarantees that you will be be able to replicate it from the proposed showroom.Every pitch is different and I have had 7.As it happens I have retailed ex lease stuff for a long time in the North East but when we took a nice pitch in London which was very cheap,we found we could not sell ex lease stuff.The punters there wanted very low mileage small automatics so if you go ahead with this showroom be prepared to change your business plan. Good Luck.

Hazard a guess,Stratstone Pendragon. Could be waiting for a 70 grand per week footballer to come along who would not be put off by a new front end ?

NIG,part of Direct Line Group,good luck with them should you need to claim.( Had to take DL to Ombudsman on a 2 grand straight forward and only claim in 20 years )

I do understand that it will be the finance companies who will be taking a hit.From what you say they might have done well previously with this stuff so it could average out.As for dealers,good luck to them,I cannot imagine what some of their punters are like and the headaches they get.

I am not sure if you can now get good insurance cover for cars left out in the open.The last open pitch we had in the 80’s we could only get road risk cover which was far cheaper.We just used to budget a few grand per year for vandalism.However this was bread and butter stock.With open pitches you will always get some vandalism but we found together with the savings in business rates on open pitches and cheaper premiums,it worked out.

Thank you,good post AWC,all above my head.Supercar status cymbals on chucky or on PCP which is even worse.I don’t get it.It’s different in the US,where corporations buy them on finance for executives and get hidden in their accounts.( making them tax deductible ) No company car tax or Benefit in Kind obstructions over there of course.I only know this because I met some US super car dealers who were attending a Lambo sales conference where I was recently staying.( They were down to earth guys )

I see it is a recently incorporated company and there are now 2 directors.Could it be that the undesclosed director is only 20 years old and who is also listed as a director of several other recently incorporated companies ? I would imagine Traders Cover would be very expensive for a 20 year old should they be able to get a quote.Good luck.

I knew a retired franchise sales manager who got into finding,renovating and selling MGB’s.A year or so later I bumped into him and enquired how he was doing.He was still finding MGB’s but instead of renovating them for resale he was stripping them and flogging off parts online all over the world which he said was far better.

Surely these novelty ‘super cars’ should be 50% deposit and for A credit score hirers only.Are you saying there are subprime lenders out there for this stuff.

Pardon me but I am doubtful you have had good advice,he does not sound to me like a chartered accountant.

Proper finance companies ( not brokers) prefer and reward loyal supporting dealers and not those who prop various lenders at the same time.Future finance income could be in the form of a volume bonus.

I was told by a reliable source that DVLA are only operating with few staff and are only dealing with what they deem essential work.

Supermarkets relying on subprime,are you sure,that is news to me.

It is right,you do need to show a profit with a quick sale at this value or it can be flagged up by HMRC ( even 5 years later ).On the other hand you don’t want to fall out with good customers.An alternative is to sell for cost plus work and prep with a side agreement to buy it back within 2 years for £2k with some T@Cs.

How inconvenient,48 hours for your ad to go live !