.gif.f588d3d914825b414e7ea9a8fb8a7afe.gif)
trade vet
-
Content Count
4699 -
Joined
-
Last visited
-
Days Won
106
Posts posted by trade vet
-
-
4 hours ago, BHM said:Is it just me but why is a deposited purchase from the premises a distance sale?
If the buyer has been allowed an unencumbered test drive & inspection prior to sale & only completes the deal after finding the vehicle is to their satisfaction how/why is that a distance sale?Is a distance sale as stated classed as an online sale.If Rishi Sunak decides to introduce an online sales tax which he is under pressure to do,dragging in used car sales might be a good earner for The Treasury ? 20% VAT is bad enough but +5% online sale tax,...punters would love that.
-
I think we should be grateful to Law Jaw for providing us with clear and definitive information rubber stamped by the Office of Product Safety and Standards with regard to Click and Collect.This is a big help for those running pitches.Yesterday I was at my old pitch where people are constantly turning up unannounced wanting to view stock and the time taken explaining the rules to them is very frustrating.Some clear signage referring to The Office of Product Safety and the £100 deposit rule should deter the time wasters and also any random Trading Standards Officers.
-
1
-
-
1 hour ago, David Horgan said:Two years ago we had a freshly MOT'd X Type , Had the MOT 4 days before he came to px it against our Subaru WRX.
My son took the x type with full history and fresh MOT in , Following day we put it on the ramp and the F####ing thing was eaten away with Rust , Holes every where in the Sills . I was that incensed i Phoned VOSA who came to look at it after they saw pictures .
Gave me a form stating they had took it away and it was evidence to take the keeper to court , so i did and won my £800 back .
Vosa in turn went to the MOT garage with two secret shopper cars , then presented him with the Xtype , Lost his Licence pronto . Love to have been there . According to the owner that car had not been on site and that was his defense
I can think back to one or two testing stations that if a trader shopped them to VOSA you might end up in a wheel chair !
I and probably a few others on here would be interested to know how the court case against the punter proceeded.Good result.
-
2 hours ago, It's me said:Brilliant just done a googly and found this
Thanks tv
http://www.lankaweb.com/news/items/2018/01/10/scandal-emil-savundra-the-prince-of-con-men/
Just watched it,incredible but that was the 60’s when nobody retailed high mileage stuff ! and there were MOT stations where you didn’t need to take the car.Memories as a 15 year old are flooding back,it really was unbelievable.
-
1
-
-
Good listening for those thinking about setting up a pitch.
-
8 hours ago, BHM said:I’ve never understood this reason for this question. In the 21st Century why on Earth can’t someone arrange their own insurance immediately? Not often asked nowadays (it seemed to be one of the questions to ask a few years ago) but was usually asked by the “CAMBELT!?!!” or “LAST PRICE!?!!” punters.
Appologies for harking back etc.Long,long ago as gofer/ salesboy/cleaner I can recall we had a Cover Note book.We would insist to punters on handover to take a free 30 day cover note and it was then up to them to decide if they wanted to pay for annual cover when the broker got in touch.Most of them did because the insurance was very cheap and the broker would then come to the pitch and give us commission in cash.Not knowing any better,we all thought this was very good.However the insurance company Fire Auto and Marine turned out to be a complete fraud run by Emile Savundra who was a professional swindler who had previous convictions in several countries.When it collapsed about 500,000 policy holders were effected.
-
38 minutes ago, metcars said:It’s on YouTube I think. The problem is that ‘experts’ are paid to give opinions? But for more accuracy try his official autobiography by ‘jabby’ Crombac.
£30 on Amazon ? The BBC documentary features his colleagues and an interview with De Lorean and includes great old footage from Jim Clark days.It will be quite accurate I think,most of the contributors liked him even though he was ‘double dodgy’ , they just regarded him as a flawed genius.
-
3 hours ago, petrol head said:Could you kindly post a link to the BBC documentary.
Link ? Posting on here and sending emails on my iPad is about the extent of my digital knowledge,I will try and get my daughter to do it.The BBC documentary is called The Secret Life of Colin Chapman and there might be one or two more mini docs about him on YouTube.
-
1 hour ago, metcars said:Chapman pulled a lot of strokes to keep his baby alive, even since the beginning in the ‘50s. Learching from one financial disaster to the next. And as recent history has shown, many other manufacturers have too (I’m looking at you VW!) and after all “let those without sin cast the first stone?”
Watched a good BBC documentary about him on YouTube channel last night.What a character,his finance guy got 4 years and the judge said if Chapman had still been alive,he would have got 10 years.I had forgot that the Europa Breadvans were Renault powered ( usually with limited power ) crap cars but good earners.Elan’s were good,but expensive and way over book to buy and I might have only had a couple of them.The Breadvans were far more lucrative.
-
It was reported that when Hertz declared bankruptcy in the summer caused by the pandemic,they had 700,000 cars lying idle and on lease.I was told just yesterday that there are not many cars availible at airports if you want to hire one.I would imagine that until they sort the leases out,they cannot sell them ?
-
32 minutes ago, metcars said:Well, wasnt chapman a lifelong Tory donor and when he asked for help/subsidy to build huge factory in Norfolk got fucked over by thatcher for ‘charming’ delorean instead?
not surprised chapman got his slice of the cake in the end. Was he dodgy, maybe? But you dont become a self made millionaire before you’re 40 without upsetting people.
I don’t think you can blame Mrs T.It was a Labour government who believed that De Lorean had 30000 orders for his car before the factory was even built.As for Colin Chapman he appears to have died in mysterious circumstances after millions of the De Lorean Motor Co’s money paid to Lotus was traced by the FBI.Chapman and De Lorean both brilliant engineers but it appears like a partnership made in hell.
BTW just been watching Brightwells on line classic auction and although I know little,future classics like SL ‘s appear to be very good value but the bidding has not finished.
-
1 hour ago, metcars said:Those early chapman Lotus were beautiful delicate machines that responded to a lot of constant love and attention. Just the same as any other high performance vehicle. Ferrari and Lamborghini were no less unreliable back in the ‘70s? Chapman was good at taking ‘ordinary’ components and putting them under a lot more stress, sometimes it was a thin line. And like all performance cars, eventually they attract used buyers that can only just afford the payments not the servicing and ‘love’ that they require. They are then patched up and bodged up to get through MOTuntil they are no longer roadworthy. And acquire an unfair reputation for unreliability because of that!
My old +2S is in japan now, exported in the ‘80s. The last Elan I owned, and drove daily, was ‘71 FHC sprint in gold leaf. Tiny car, powerful, light, 30 mpg, independent suspension, 4 wheel disc brakes. Quite a thing back in the day. You’d have to work pretty hard in that E-Type to lose me on a winding road. And let’s be honest, the only E-Type that actually hit 150mph was the factory demonstrator!
Was Chapman not dead dodgy.Did him and De Lorean not siphon off millions of government money to Switzerland instead of using it to build Deloreans in Belfast.As I recall even Lotus Cortinas were shite back then.My idea of a good car is based on profit.I remember being given advice as a 15 year old when working on a pitch ‘ we are only here to sell them son,not effing fall in love with them ‘, advice I have followed to this day.
-
12 minutes ago, metcars said:I love an old Lotus. I’ve had loads, I used to daily drive a lotus elan +2S:/130 back in the day. Showing my age?
PS: Lots of trouble usually serious. Not if you know what you’re doing!
I used to also love Lotus Europa’s (also known as breadvans ).When we started a pitch in 73 we sold a lot of them.They usually had cracked cylinder heads so they were cheap.The thing was we never fixed them and sold them ‘as is ‘ declaring engine problems.The type of punters who bought them didn’t mind because they never drove them but just wanted to own one and talk about them.When we worked that out,we did exceptionally well with them.....one of the best shite cars I can remember.
-
11 hours ago, DCS01 said:This was my quandary. I took 40k out of my house extension equity and have managed to pay back 6. We will need the money back later in the year, looking at the rates and some of the downsides I may as well try and take a loan for 25k and not get involved with unit stocking. At lease at the second the cars are mine and I am in control
This is what makes me laugh about big companies/old boys network. I have been in the trade 20 years. I was a pretty decent salesman and a solid used car manager. If I tried to borrow 60k for my business and told them I expected to make an epic loss of 100k in the 1st two years I would get laughed at. Yet a bloke from love film that thinks he has re invented the wheel manages to get millions. I mean fair play to the guy but come on.
Their funding is now up to £500m ? The big Venture Capital guys are queuing up to invest.I find it extraordinarily,last week they bought a big group of prep and storage centre sites that employ 500.In year 1 they employed 49 people lost £18.5m and the wage bill was £6m.Where is it all going to end.I think if they used Prince Charles,Ant and Dec,Greta Thunburg,Sir David Attenburgh and The Archbishop of Canterbury to advertise,it would not help them.....but what do I know ?
-
1
-
-
11 hours ago, JDM1983 said:Agree, this is what I’m doing, have the luxury of doing it whilst still holding down another full time job, so it’s maybe not possible for everyone to do it this way. Started 2 years ago with £10k and 2 cars, business now worth something like £90k with 8 cars. Not saying this is a good performance, feels pretty slow actually, but I own it all and owe nothing to nobody. As you say David, it’s gathering pace now as the more cars you have the more you sell.
You are very fortunate.Stick to what you are doing,don’t change your stock,keep your day job etc .Sounds ideal.
-
1
-
-
Cazoo are new and they had £33m in year 1.Which was £9m @ 3.75 over base and 1.75 over for the rest which cost them £460k.They probably get preferential terms.Never had a stock loan but I think they are repayable on demand ( that means any time ,any reason and they can please themselves like an overdraft )secured against the stock with your personal guarantee.It may not be such a big risk for Cazoo but I think smaller guys could potentially lose their house if the lender decides to pull the plug.However I have no idea whether dealers have a better alternative.
-
1
-
-
1 hour ago, Rory RSC said:Why doesn't he take a look at your accounts and see what a good job you are doing in this day and age....
Great attempt at wit but as is the way with you quite ill informed and wide of the mark as ever.
Thank you Rory,you are right it is a lot easier being a landlord,no stock,no staff etc.However would you believe ,I do miss the day to day aggravation and problem solving.I do still hear about it,like the price of paintwork,parts and the constant negotiating with auctions claiming for mis descriptions to mention but a few.
-
11 minutes ago, Bmx Bandits said:Tommy good on you for giving but a go. Sounds like you’ve got your head screwed on and I’m sure you will have plenty of highs and lows in this trade. The advice I would give is to continually evolve and embracing the new while keeping more than a keen eye on your costs and profits, we are all still learning.
When I look at what I spend on all my prep costs I wish I had a dent man, paint guy, specialist tech etc on staff but the reality is it’s hard enough running a business and trying to keep my current employees on track as it is.
If you can find the holy grail of a master technician who is preparing to work for sensible money, isn’t a primadonna, will work on multiple brands, in a smaller workshop without a multitude of special tools and training courses and graft then bottle him as you would make a fortune!!! But seriously keep an eye out as you never know.
A director of a very large dealer group once told me the best way to make a small fortune in the motor industry.......was to start with a large one!!!
TV is right in what he says about company accounts as all that glitters isn’t necessary gold especially in this industry. I do miss physical auctions and the traders turning up in fancy cars talking loudly about how well they are doing while trying to all outdo/out story each other, while a handful of quieter buyers who always turn up in non descript cars and who week in week out hoover up quantities of cars, these are the one’s that I’d be watching and trying to learn from.
The next thing will be that these master techs will be employing agents like footballers.In my experience it’s usually been the case that your typical RR Sport driving with cherished number,perma tanned,Rolex wearing big talking flash dealers you see at the block are often ‘living a lie’ .How often do their annual accounts show they have not got a ‘pot to piss in’ and they are drowning in debt.I have lost count of the number of guys I have seen over over many years who have come and gone.....Nothing changes.
-
1
-
-
14 minutes ago, Tommy83 said:Thanks for all the great advice everyone - really appreciate it.
Moving to a more professional looking premises has been on the agenda from the start, its difficult where I am because everything suitable is stupid money. I mainly want to do it so I can employ my own mechanic. Looking over my books for last year, paying 3rd party mechanics is costing me more than I could employ someone for. Might as well have someone who can make me money doing work on my cars for retail and normal service work for customers as well.
Trade Vet, I have looked at many dealers accounts - sometimes surprising! You think they look like they are making millions but actually its all breakeven or even loss making.
Tom,you have ‘ hit the nail on the head ‘ regarding dealers accounts.The theory of operating your own workshop is good but in reality finding a proficient all rounder tech is not easy ( especially if you are doing Kraut stuff ) and if you get one it could cost you £50k or more to employ.Then getting all the right diagnostic stuff and the expense etc.Worth trying though because ‘ cost of sales ‘ is not going to come down.I would imagine your current cost of sales could be £1500 per car.
-
25 minutes ago, Rory RSC said:Sorry, agree I meant have a conversation with the customer.
Good advice as well Tom from the ever optimistic trade vet. Go round asking dealers giving free advice to look at accounts before you take their advice on board. Can't see what would go wrong with that.
I'd probably look at whos been consistent and grown and sells plenty. Irrespective of if they are making money or not thats very much their problem, as long as you take the good bits from what they do, tweak it and put your own spin and YOU MAKE MONEY then thats the main thing rather than poking your beak into what others do. Just my opinion anyway.? For those who don’t know,most established businesses trading accounts are availible for all to see in the public domain.You don’t ask to see people’s records.BTW Rory your boss looks a switched on guy,I have to say you kept him quiet !
-
Hi Tom
If it is going well and you are getting ahead and you are happy,then don’t change it.The grass may not be greener by moving premises,having more stock etc.I think you should stick to what you are doing for a few years and don’t make the mistake of being influenced by other dealers unless you have seen their latest set of accounts. Your photies look punter friendly to me.You could always display your CV ( with a little embellishment ) as it is probably interesting and punters will like that .Good luck.
-
Be careful with whoever you choose,don’t let them lock you in to some 12 months notice contract and make sure you have direct access to a rep when problems arise.Read the small print word for word.....protect the downside or you can be stitched up.
-
1 hour ago, Frank Cannon said:.....they won't though will they, soft targets only, they really do, its why the serials offenders still are, well, serial offenders.
I may of mentioned before, when we were on the south coast, there was notorious (locally) private 'trader'......... Everything worse in a cliché pikey rolled into one very nasty package indeed....ran loads of Gumtree, Facebook and Ebay accounts mostly as private, very occasionally as trade.
Been doing it for years, still probably is, his idea of customer comebacks was just simple physical threats, bricks thru windows or good honest house burnings, I shit you not. His return rate was incredibly low...
....in all the years I knew him he actually rarely had proper grief with the 'ooforytees'....possibly due to putting one TS bod in a headlock and launching him out into the road....a 24 carat nasty piece of work, no idle threats there. Even the plod were reluctant to deal with him.
Don't get me wrong, this guy may of sounded like a simpleton but, he was as sharp as the lines on a MK1 Golf, knew his way around the judicial system, especially Travellers rights/ racial rights etc, great on IT, bloody good on the tools too. Apparently pulled the popsies like Pacific Class steam Locomotive too.
.....that said a very helpful guy if you were stuck at auction broken down, first one lying under a car in a puddle.....maybe just a hatred of whinging punters so, not totally without a certain flair
You are right about ‘ soft targets ‘ only.Once tried to start a topic about ‘ Trade characters we have met ‘ and got no response.
-
Hi Guys,I am OK and Thankyou for asking.I do still follow the Forum but have stopped posting.There were objections from one or two because I am no longer trading,have deregistered from VAT and apparently I am too old. However being a pitch landlord,I am still in touch with the daily challenges of the job.I do hope Casper is well.
-
1
-
1
-
The Rules
in General Dealer Chat
Posted
I forgot about auctions,everyone would be back to driving up and down motorways again to buy stock.