Nick M.K.

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Posts posted by Nick M.K.

  1. Posted

    44 minutes ago, tradegirl said:

    I know you edit your photos, has anyone ever come up and said the car doesn't look as good as in the photos? Because your cars look like showroom condition.

    Yes, every now and then a customer will point to a tiny scratch on a sill or a chip in a windscreen or just say something like "It looked a million dollars in your photos". 

    I'll tell them something like "It still looks fantastic and it will look a million dollars on someone's driveway after they've personally spent good 3-4 hours to clean, polish and seal it again like I did a couple of weeks ago just before taking the photos in a nice spot from the right angles at the best time of day with a bit of cloud cover" :-)

  7. Posted

    I think what the guys are saying is that dealers will load their own part exes to the Partner finance system, then they get repoed with the retail stock when the time limit passes without payment. I’ve never seen the stock and have no idea what they are like.

  8. Posted

    In theory they should be retail-ready or almost ready cars that have been sitting on forecourts for a while before being repoed and shipped to BCA. 

    Who knows what they are really like though, some dealers prep a lot, some prep sweet *uck all. 

  10. Posted

    20 hours ago, david gott said:

    I'd rather turn each car over 7 times a year with smaller margin than turning a car over twice a year with big margins.

    The problem with aiming for small margins is that you will then only ever get small margins, you'll never have a nice juicy £5K one (I've had less than 5 of those over the years so not there yet sadly). If a dealer clears £250 per car they need to sell 20 cars for each £5K. That's 20 TIMES more chances of something going pop & bang, 20 times more chances of screamers, 20 times more MOTing, 20 times more valeting, 20 times more servicing and repairs and MUCH higher AT or premises or storage bill. One guy can have 20 nice cars, the other guy needs 400! And several times more staff. And less finance penetration as % and a much lesser chance of another high value p/x for retail... 

    Listen, I lived in £2989 land for years (you know I hate XX95 pricing) and I regret it. This comfort that we have with certain price points works against us sometimes :-)

     

     

    • Like 3

  11. Posted

    This is the same as doing a very long distance journey without getting on the motorway.

    You’d still reach your destination but it makes no sense to do it using slow roads that take 3 times longer. 

    People can sell without AT but will sell less units for less money and after stocking them longer. 

    Pay the fee, use the toll road, get there faster. 

    • Like 2

  15. Posted

    20 minutes ago, Arfur Dealy said:

    Done more this month than the whole of June already......

    You are definitely flying if you are already into July. 

    I am still in June, 6 sold and collected, 5 of them bought to order. 

    On 09/06/2019 at 5:09 PM, EPV said:

    no ones buying diesel cars

    If you can see my call list on a Merc E220CDI Coupe, they went wild for it. One woman checked 3 times if the car was REALLY sold. 

  16. Posted

    1 hour ago, tradex said:

    The dealer is first port of call, and just taking the original owner to court and getting a return well, best of luck. 

    More an observation than a criticism, I know you mean well.

    I wasn't thinking about court immediately, some of these are repeat customers that I have worked with for many years and it's a case of calling, reminding them of the Tc & Cs and asking for some "modest contribution". 

    Some people will pay it, some won't. 

  17. Posted · Edited by Nick M.K.

    1 hour ago, Mark101 said:

    Be prepared, they will look at how much you sell it for and will think you are ripping them off - human nature

    THIS! 

    I've done some very nice SOR (and that's not spares or repair) deals over the years. It's free stock, very often stock that I have personally sold them a few months or a year earlier and still in near-retail condition. 

    The way I go about this is quote (retail) for the prep required and charge the owner for this in advance. Even if it doesn't sell and you return it you don't lose out on prep costs. I would also do most of these deals in the winter when I have the AT double stock offer. This way my advertising is free. 

    Quote a fixed percentage depending on the value of the car, I usually charge between 7 and 11% but this is entirely negotiable and could be lower or higher. 

    NEXT. Very important. 

    I will have a strong preference for a finance buyer because this will effectively double the income from a no-margin deal or at least for a buyer with a bargain priced part exchange. I will also try and upsell an extended warranty to cover the vehicle so I can limit my exposure. Some dealers even insist on your seller/owner covering the warranty costs for the first 6 months.

    Lawgistics's sale or return agreements actually have a clause that states that seller (the car owner) shall stand by and indemnify the dealer against claims that arise so it's not 100% down to you post sale. 

     

    • Like 1

  19. Posted · Edited by Nick M.K.

    On 01/06/2019 at 9:39 AM, Tony911 said:

    Euro 6 diesels are 65 plate and above

    This is not always the case. There are 2013 and 2014 models (Mazda 6, BMW 530D) that are Euro 6. It depends on the date when a manufacturer paid to certify some models.

    You can have 2013 BMW 530D Euro 6 and 2014 BMW 520D Euro 5.

    But after 65 reg they all are. 

    Agree with TV that not stocking diesel at all is a mistake. 

    Auction prices are low in the London area, many dealers avoid the stock but a lot of buyers still want them and they now look great value for money, 

    I had 3 viewings and 2 sales this weekend, all diesel. Based 2 miles from the M25. 

  20. Posted

    2 hours ago, Arfur Dealy said:

    The advert says it’s in perfect condition 

    A Bulgarian wrote that. You can't possibly trust it.

    In Bulgarian the word Perfect has the same meaning as the word Immaculate here: Well used with signs of fair wear and tear but can do the job if you are not too fussy. 

     

    • Like 1

  21. Posted

    Sourced from carefully selected vendors and lease companies with which we have a very long working relationship through several remarketing channels for which we are an approved buyer :-) 

    Every now and then we also buy direct from owners, especially if the car is in exceptional condition :-) 

  23. Posted

    Why £4295??

    Everyone will bid £4000, no one will pay the full price so close to the magic £4K price point (unless it’s a p/x deal). 

    If they will only pay £4K ask for £4000 so you get in more AT searches. 

    Or if you want to be in front of Hundreds of £3995 or £3990 ads go £3989. 

    And if you think the Mazda can be sold for over £4K try it at five. Someone might just come along and pay it. 

  24. Posted

    1 hour ago, NOACROSS said:

    Dreadful things with no following

    I read this, then I looked at a copy of Octane from a few months back that predicts that early MX5s are quickly becoming "collectable", then I got the joke. 

    £4295? Why?

    Either £3989, £4000 or £4989 more like it (for June at least)