Mark101

I've only done 4 all with good margins but it is definately quiet. Competition is on James

To be fair to Benji - he listended to us about pictures and prep and has really turned that around. I am going to give him the benefit of the doubt and say that he will physically attend auctions until he gets the feel for things. I have bought lemons and plenty of them, both 15 years ago from the pitch and now. Providing like me Benji wins more than he loses, he will do ok. I have advised him to keep an open mind, rather than searching for specific stock and learn to recognise what has a profit across it, even if it falls outside of his desired profile.

They've just left, going to do some background checks and coming next week to run through the FCA online with me and talk me through their Online system. Cheers Justin.

When you say set you up; do you mean from scratch (I.e FCA app) or just set you up as a partner (I.e you already had an FCA)? I’m only asking because CB rep is coming to me at 9.30 today (and I don’t have FCA, which they said they can help with). Thanks

Why, by your own admission/experience, they're crap. It gets better Seriously Benji, you've come a long way in terms of prep and photogrpahy and I applaud you for that but the first, most difficult, most important thing is buying right in the first place. We all catch colds (I've had several) but you must try and limit your exposure and don't bid on older stuff without physically seeing the stuff. Good luck mate, I'm in your corner and follow your threads with optimism.

It's manual

Zuto use AT's FCA licence (I believe). I.e: I don't make the introduction and therefore earn NO commission from the sale. I also cannot publicise finance figures on my website.

If I sell 150 cars, I should make around £150k pre tax pre VAT (average margin). If paying £10k to faciltate that is required, then I'm happy. Caveat - I should finish on only about 100 cars in my full year (pro rata) but plan on growing to 150 Yr2 and Yr3. I rarely allow people to chip me and at £17.50 per £1,000 - I am quite alright with that. Of course, I still prefer a transfer but lots of people struggle to do that. Least favoured mathod is still cash - 1% charge, a walk in to the bank or PO via a pedestrianised area = too much hassle.

You can't use one size fits all valuation. I use it as a sanity check, comparing between CAP, AT and Cazana = pay the lowest of the three.

I use IZettle - pay 1.75% of transaction value but no monthly charges. Hardware was around a ton I think. Plus it is completely remote (I haven’t used this function yet), you can take it anywhere you have a 3G signal.

I have a package with Cazana. Includes HPI checks and valuation tool, costs me about £60/mo

Cazana

That's the one - top man Nick

Can someone please send me the details of the young lady on here whom seems very efficient in Finance setup/FCA. I did take a screenshot of her post but cannot find it now. I am now ready to register and start offering finance (other than Zuto) now we have premises, VAT no. etc. Tried searching but..........

Trying to have your cake and eat it by the sounds of it. You're a trader who b(r)ought a car from a trader. You can't have both, either pay retail and enjoy some warranty/CRA benefits or accept your trade and roll with it.

To be honest Lucas, I have three people wishing to invest in my business but it is me pushing back. I chose this path because I want to be accountable to no one but myself and as soon as an investor come onboard, I lose the one privildge I enjoy most.

Further spread risk by having multiple dealers in multiple regions.

My best serious advice would be to spread your risk. I.e. place £50k with 4 dealers instead of £200k with 1 dealer. Also, you'll make a better return and less hassle by funding rather than tangibly getting involved.

Santander 11-00-44 14237895 Please Don't, that isn't my real bank details

My most embarrassing moment at auction was when one of my customers said can I come with you one day (how do you say no). Anyway, he's a lovely chap and we talk quite regularly now. He came with me once and I was bidding on a BMW 1 Series which I had earmarked. I really wanted this and won it (sold within 1 day). Anyway, trying to keep my cool, looking like I know what I am doing, keeping it very much matter a fact etc, hammer drops and my "new" friend runs up to me in the rostrum, throws his arms around me and shouts - you won it yeeeessssss!!!! I also bought an A4 same day and that also sold very quickly - of course, he has witnessed the speedy sales vs. purchase price and now wants in.....lol

This I try and keep myself to myself always do business wise but there's one chap whom always makes a bee line for me, an ex trader who simply can't stop coming to the auction yet never buys anything. I bought a right lemon once because I couldn't escape him easily enough to inspect beforehand. I now avaoid and make pretend phone calls, go outside for a smoke (well vape), or make another excuse. Lovely chap but bloody irritating distraction.

£45k in warranty reserves - madness. I would cream off anything over £5k which would cover all but the very very worst claims.

I rarely end up buying what I went to buy because we all want the same, low mileage, black estate or sports with FSH, two keys and a couple of owners. An example, I wanted a C30 specifically for a punter; I did buy it and also 4 more that I hadn't really considered. This was less than 4 weeks ago and out of those 5, 4 have sold and I am only left with the C30 (the one I had ear marked). Go figure. Open mind, flying by the seat of your pants and you'll grab something you'd never considered as everyone does/has tried to buy another car that you have perhaps filled your boots with before, only to realise that was probably a lucky one off.

I will call you when you’re back from holiday Simon and tell you. That was what I was calling you about yesterday

I had just collected the rejected Meriva (see other post) and it is soooo quiet here, not getting on with my Landlord (we've agreed to part ways) and then I get this text (saved in my phone as Smart) - My heart sinks, sold a Smart car over 10 weeks ago, what now..... (and I quote): Update on the Smart Car. It's just bloody perfect! Thanks Steve