D7neo

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Posts posted by D7neo

  1. Posted

    18 hours ago, Arfur Dealy said:

    Simply don't do it, there's no need, don't do anything in business you don't feel comfortable with ;) If you don't want the commitment, it'll be a constant worry..... I was a door stepper for years, I'm fairly experienced in the matter... You can't run a site part time, you have to commit full time. If you sell online you can use a unit for storage and collection B2 use, these units are generally chdeaper as they are for distrobution and collection only, not retail (selling online) is a way to get around it. However, not a lot of landlords like car dealers..... If you want to grow and sell cars do some dabbling first, one at a time.. Don't do something you are not happy with :) Your business is your baby, you grow it how you wish...

    BTW... FFS, my spell checker has disappepepred...... lol :lol:

    thanks for the input. I am going to give it at least another 12 months to see how things go then make a decision from there. I would like to go at it full time, but like you say, I don't want to rush it.

  2. Posted

    46 minutes ago, MOTORS said:

    Don't forget to look in to planning permission for change of use before spending money on extending your garage and driveway. I trade from home and all was well until I added a small conservatory in 2013 to use as an office and started getting busy. The council visited and stopped me trading until I had full planning permission for change of use. Luckliy I got planning (although there were a few local objectors) and could continue trading from home. Then the rating office came round and assessed business rates, It was a joke really as they charged me £450 annual rates but will small business rate relief it reduced to zero. Because part of the land was now business related the council lowered the residential rate band which reduced our house by £550 per year.

    Thanks for that, I'll look in to it.

    If thats the case, I have got a 8m x 4m living room I dont use so that can be the new office and it can lower my council tax! hopefully be a win win.

  3. Posted

    thank you all for your input.

    I think you have just confirmed what I thought. There is a unit coming up close by, around 2200sq ft. It's 8k per annum rent, business rate relief, but with services you're still talking 10k a year. I think I'll put 10k into my own house, extend my garage for an office and re-do the driveways. Give it 12 months and see how I am next year.

    Finance wise, everything is pretty much 6k upwards and thats where I would like to stay even with cars, so I would imagine finance would be popular, but time will tell.

    Thanks again,

    Dane

    • Like 1

  4. Posted

    I don't really know what I want to hear, maybe just a bit of advise or experience of someone who has recently gone from door step trader to a unit.

    I have been trading a little over a year, mainly LCV's and minibuses (generally 8-12k value) but would like to introduce car sales abit more. I am FCA registered and started to register with a few finance companies.

    As I continue and with the benefit of being able to offer finance, I want somewhere I can ideally be meeting people away from my home, with an office that we can sit down in and go through to the finance etc.

    I trade part time and work full time in construction. So it is very much an evening and weekends business for the time being.

     There isn't much in the way locally to rent, except bog standard 2-3000 sqft units. I would ideally like more of a 'lot' than a unit but there simply isn't anything. All my vehicles are self funded and I don't take a penny profit out of the business. I'll be honest, I am 'scared' of taking on somewhere and having the monthly bill and being desperate to be selling to cover the rent etc. 

    How have others gone about it when the time as come?

     

  5. Posted

    14 minutes ago, MGM said:

    I wanted a Lotus Carlton, I waited and waited until they got down to c£15k, tried to find a good one but never did, blinked and they were £40k, blinked again and some are advertised just under the six figure area!!! 

    like e30 m3's!! they was 25k about 3 years about, do well to get one for 50 now!

  8. Posted

    8 minutes ago, Chaplin said:

    Thanks, the one thing I really need to look into is VAT.

    I am obviously way below the threshold at the moment but is there any benefit in registering early in terms of expanses and claiming back VAT on part, repairs etc?

    I have been VAT registered from the start as I mainly do vans. I'm not sure how it really works on cars, its something I need to figure out. I know you need to vat registered if you want to offer finance as you grow but I suppose thats down to the value of the cars you are aiming for...

  9. Posted

    Do many of you guys operate mot stations or general repairs/servicing as well as vehicle sales?

    There isn't anything local to me that affordable to justify the cost for doing a few sales a month as the business grows.

    I was toying with the idea of getting something big enough to put in an MOT station, with the idea that it would hopefully cover the costs of the unit as opposed to really taking a wage from it.

    I know the cost of the equipment is 25-30k, but surely it would pay for its self soon enough?

    It also has the benefit of cheap MOT's and a mechanic on site....

  10. Posted

    I read your introduction then thinking it was a biography of myself. Civil engineer, sick of the commute, hoping to do it full time in future, wanting an industrial unit to work out of.. relatively new myself but if there is anything I can answer then ask away.

  11. Posted

    17 hours ago, andymc1973 said:

    are you VAT registered? would assume that's a pre-requisite

    yes, VAT registered, mainly sell vans 2-4 years old so been VAT registered from day one.

    Zuto finance seem to be willing to work with me, just had to make an amendment to my FCA approval first.

     

    I'll try  Meridian Finance next. Waiting to here back off Motonovo, mann island want 3 years trading from a premises first.

  12. Posted

    21 hours ago, Dave2302 said:

    Yes I agree with that, it is the Logos andname that are normally the problem ;)

    A sentence however, that mentions the Name should not be a problem.

    One could always try telling them to feck off and see what happens next LOL ;)

    For example, the Landy Man, have LR actually copyrighted "Landy" ????????????????????

    it appears they have, he has since copyrighted 'lanny man' and is repeating the process land rover did to them, to other small indy's

  13. Posted

    Yeah sorry it's to be able to supply finance to my customers.

    natalie is fantastic, she helped me a lot through my FCA application. Unfortunately I'm not in her catchment area and my local rep doesn't seem to be no where near as helpful so far... same goes for close brothers at the moment.

    • Like 1

  14. Posted

    I did try and use the search function but couldn't find anything specifically.

    Have any home traders managed to partner with a finance company for their sales?

    I have tried a few so far and none seem to want to help as a home trader.

    I do, in the near future, want to relocate to a unit, but would rather have some time offering finance first before I take on the cost of a unit. Plus, there isn't really anything that suits locally at the moment.

    Vat registered ltd company, 11 months trading, FCA approved.

  17. Posted

    there is one come up near me, in the north west, next door to my body work guy. its about 2-2500 sqft, wants 8000 P/A. I do a few minibuses and mainly LCV's so I dont think its big enough for me, but location wise its perfect. Whats the general view on indoor/outdoor? I think id rather have out door but there isnt anything near me

  18. Posted

    On 7/14/2018 at 7:44 PM, Nick M.K. said:

    My Motors.co.uk deal is £96 per month for up to 20 vehicles. 

    This is the only platform that fits the £10 per car math. £5 per car even. 

    But I still spend almost £1700 across all platforms. 

    how many cars a month, on average, do you sell nick?

  20. Posted

    7 hours ago, AutoJacob said:

    See this is where it gets messy, it's why I'll probably just send all the shitters to the block from now on.

    I use St Helens Motor Auctions (one of them cash only type of places).

    A local AH - St Helens Motor Auctions, it's not worth paying massive entry fees with BCA / EPMA.

    Are you St. Helens based? I don't know it was still running until yesterday, I'll probably go and have a look tomorrow

  21. Posted

    I have the exact same opinion as you. I don't like the idea of paying a good chunk of money for something that isn't yours or never will be. Along with the fact your tied in to a vehicle for 2-3-4 years. However, it appears to be working very well for some people. One that seems to be doing very well from it to us an example is DB Automotive.

    I'll be honest, I don't look at cars at the auction, I currently focus on one company owner 3 year old stuff. Rightly or wrongly, with the mindset that if nothing else it should of been serviced regularly and not really old enough/enough miles to have major problems. Touch wood.

    However, when I get the FCA approval for finance and try and grow the business, look into getting a unit, I think I'm going to have to offer cars as well as vans.

  22. Posted · Edited by D7neo

    I trade part time, the rest of my time I work within the construction industry. For that, I use LinkedIn quite regularly. I have started growing my vehicle sales 'connections'.

    I have noticed that a lot of sales companies are now just advertising their cars as lease options (PCP). These aren't brand new vehicles. Typically 2-3 year old, usually evoques, 1 series 3 series etc. These are independent companies too, not the likes of BMW used cars or a nationwide chain. 

    How does it work? Does the sales company buy in the vehicle, then rely on the customer taking it on a lease deal via a finance company? They are always advertised at '£349' a month, then at the bottom the actual price of the car if they ever own it. Never any mention of miles on the vehicle or service history etc as you would typically find on a sales add.

    What then happens at the end of the 3 year term when the customer doesn't wish to buy the car? Does the finance company then throw it to auction?

    Does anyone operate this way?

    To be fair, from the finance royalties of 5-10% that was banded about on here recently it seems a good way to make money, if what I am imagining to happen is in fact true....

  24. Posted · Edited by D7neo
    errors

    Application is now complete and submitted! I dont know what form I downloaded last time I looked into it but it certainly wasnt as straight forward as that one.

    Just had an email to say I have to upload a CV and 'supporting documents'. Cv wise, I have only been in the vehicle sales for 12 months, have people included live before sales as part of it? What supporting documents have people submitted?

    How long are people waiting on average to hear back from the application?

     

    Thanks for all the help

  25. Posted

    1 hour ago, Natalie Draper said:

    Hi, did you call Alex the rep whose number I gave you? If you call the fca they will take you through it step by step. The most important thing is that you need credit broking, debt adjusting and debt counciling and yes that’s your accountants details they are asking for.

     

    natalie 

    Hi Natalie, spoke to Ale, he said he may not be able to help as I am a home trader and they have had issues with them in the past. I have sent him everything he asked for anyway. I have now done the majority of the application. thanks again for your help.

    • Like 1