justlooking

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Posts posted by justlooking

  1. Posted · Edited by justlooking

    5 hours ago, Mark101 said:

    My only criticism is of "us" not the mag/forum.

    This is a public forum and I think we should be using the Private room more often (I am guilty too).

    I hate the idea of a rogue trader, dodgy doorstepper et al benefiting from the free advice us tax paying, law abiding, warranty honouring, properly preparing traders do.

    I also don't like to share my wins and fails with everman and his dog, whereas occassionally I like to share my joy or tears with fellow traders outside of the public domain.

    I feel the same mark and and have tried the recommended request account and Andy to no avail, in the end, I just changed my username to something generic 

  2. Posted

    23 minutes ago, DCS01 said:

    Ta. On the strength of the replies I have just registered a domain name and brought another car on dealer auction 

    Good lad!

    I found my personal lack of mechanical knowledge and back up to be my biggest downfall when I started out so having that support around you will stand you in good stead.

    youll get lots of support from the chaps on here with your positive and sensible posts so keep it up.

    dealer auction.... buy with caution!

    id be sourcing cars via your Dads customers if poss!

    • Like 2

  3. Posted

    10 hours ago, Grantlfc81 said:

    Evening gents - getting asked if I do finance on cars that are older than what our current supplier is willing to lend on.

    for example I have a a3 black edition 2009 with 120k miles on it at £5495 - 

    my current lender won’t touch it as it’s over 8 years old and over 100k Miles.

    any ideas who I can get signed up with? 

    Try Will Mitchell at Meridien Finance, ‭01342 301465‬

  4. Posted

    19 minutes ago, Jay@DNA said:

    Have you used evolution funding? Once the application is submitted they then seem to ask for 100 other things including the applicants grans birth certificate.

     

     

    That’s fair enough, I thought I would ask the question. 

    I’m with a few of the other guys. It’s all part of the service I’m afraid.

    Instead of charging customers why not change Finance company and save time in doing the application ... motonovo has the option to send a application to customers inbox.. you do very little that way

     

    • Like 1

  5. Posted · Edited by justlooking

    Appears to have dissappeared.

    not an issue as we were getting better commission from our longstanding broker bizarrely. Just wondered if anyone else had noticed their commission all but disappeared?

    over to close brothers we go...

  6. Posted

    29 minutes ago, Arfur Dealy said:

    Timewasters are the worst part of the job, especially if you are self employed and sell from home. These people do not distinguish the difference between a forecourt where the staff are salaried and paid to deal with lookers and walk-ins, to a hard working self employed proffessional home-trader whose every hour of your day is about earning money, managing their stock, business and logistics....your time its not to be give away for free. These people are just robbing you of your life and income. 

    If you can accept you will just be a research facility for some, then OK. But believe me, when you start to really value your time you will learn to qualify punters and to gain a commitment over the phone, you wil then move on to getting deposits....    

    James, you know me I fecking hate timewasters with a vengence. Those "researchers" have stolen a part of your life which you will never get back.

     

    Great way to look at it.

    You'll only get a punter to appreciate this if they're self employed or have more than 2 brain cells, everyone else won't care and will still look down on us unfortunately.......

    Unless we take charge and create a system like yours that doesn't allow for time to be wasted!

  7. Posted

    When you’re relying on selling cars as your sole source of income you won’t want a modern classic, as:

    - they typically need work.

    - they attract billy know it all customers that think they’re worth what they used to be when prices bottomed out in 2007.

    regarding HPI, we use motor trade check instead. Google them. Much cheaper and offer the same checks.

    good luck and keep asking questions 

  8. Posted

    25 minutes ago, Natalie Draper said:

    Awww thanks .... ok ...so you won’t get as much commission as you would going direct but try a broker maybe to just start with. Motion finance, evolution, zebra and mallard I’ve heard are ok. You could try motonovo but you might get the same response 

    Try Will @ Meridian Finance, looked after us for about 2 years before we went with MotoNovo and Close.

    Will even maintains that he may still be able to beat the quotes I'm getting from the new two!

    His Number, 01342 301465

  9. Posted · Edited by justlooking

    The more of cars like these I have in PX the more I think it’s worth scrapping and getting back £100-120.

    or stick on eBay, as you may get more realistic buyers on there. We’ve got a similar PX in at the moment. Gonna try and get a new ticket and try Ebay auction it. if it fails MOT miserably it’s off to the scrappers.

  13. Posted

    2 hours ago, whitestone679231 said:

    Having looked at your site I would be willing to let you advertise my stock for a 12 month trial as long as my website provider was willing to feed your site, if after the 12 month trial I had any positive response then I would consider paying for any further advertising, obviously until then I wouldn’t pay anything but I am sure if all others on this site agreed similar terms you could have a reasonable start, it may take you many years to get noticed and cost tens of millions so unless you have serious backers tread with care.... but good luck

    +1

  14. Posted · Edited by justlooking

    6 hours ago, Arfur Dealy said:

    The buyers premium plus the hammer price is your stockbook net cost of the car..... Surecheck & delivery are expences which we pay VAT on........ That's how Ive been doing it for years

    Yes I think that’s spot on for Manheim as I think they charge VAT for both surecheck and live online, however some of the auction houses list the live online fee without VAT, therefore allowing us to account for the live online fee as part of the buyers premium in the stock book.

    8.3 Work out the purchase price of eligible vehicles bought at auction

    Your purchase price will be the hammer price of the vehicle plus charges for services.

    The invoice you get from the auctioneer will itemise, for each lot you have bought, the hammer price of the goods and any charges for services (for example, buyer’s premium). These charges must not show VAT separately.

  15. Posted

    5 hours ago, Nick M.K. said:

    So under the margin scheme:

    You buy a car for £10000 hammer

    Buyers fee (Gold) is £302 

    BCA assured charge £33

    You total purchase price is then £10335 and this is what you put in your stock book as purchase price. Because this is taken into account when you work out your margin you don't lose out on the VAT. As Tony F pointed out the fees effectively reduce your margin. Where you WILL lose out is if you don't make a profit on that sale because there is no VAT due to offset against. 

    If the invoices (BCA storage a good example) have VAT separately displayed you just reclaim the VAT on the invoice and don't include it in your "stockbook" purchase price. 

    From the Gov.uk Margin Scheme for Second Hand cars. It gets EXTREMELY confusing when you read section 8.4. Basically they are saying that Buyers Premium and Indemnity fee are two different things although I loosely use the same wording for the same buyers fee at BCA :-)

    8.3 Work out the purchase price of eligible vehicles bought at auction

    Your purchase price will be the hammer price of the vehicle plus charges for services.

    The invoice you get from the auctioneer will itemise, for each lot you have bought, the hammer price of the goods and any charges for services (for example, buyer’s premium). These charges must not show VAT separately.

    This will be your purchase price for the purposes of the margin scheme or global accounting, and is the amount that you must show in your stock book. It should be clearly identified on the invoice you get from the auctioneer.

    If the auctioneer bills you for any other services, and charges VAT on them separately, you can reclaim the VAT under the normal rules. You must not add those charges to your own margin scheme purchase price. To avoid confusion, you may want to ask the auctioneer to provide you with a separate invoice for such charges.

    If you are in any doubt about what your margin scheme purchase price should be for a vehicle you have bought at auction, you should check with the auctioneer.

    8.4 Indemnity fees

    When you buy a vehicle at auction, you will usually be charged an indemnity fee. This is a charge which ensures that you will have compensation or indemnity if the vehicle you have bought is later found to have been stolen or to have finance outstanding on it.

    You must not include the indemnity fee in your purchase price for margin scheme purposes.

    Thanks Nick, makes perfect sense to me. Very useful.

    I’m not sure anyone charges an indemnity fee so their 8.4 is all but irrelevant.

  16. Posted

    sorry to resurrect an old post but what do we do in relation to 'non vat applicable' add ons such as BCA assured which I'm paying £33 for.

    Is it legit to add this to the purchase price of £5000 as per tonys example?

    therefore;

    £5000 + £300 fee + £33 = allowing a stock book purchase price of £5333 or should it remain £5300.

  17. Posted

    1 hour ago, Mikey360 said:

    Ive got a fabia vrs thats been sat for 3 weeks now, one more week and i'm dropping the price to shift it. 

    I can’t get enough of the Mk1’s! Funny game this.

    anything over 60 I’m twitchy and 90 it’s gotta go 

    • Like 1

  19. Posted

    11 hours ago, NOACROSS said:

    That’s hilarious. ‘Nowt queerer than folk’ and all that. 

    My easiest sale is my mate Ben (no, not him). He hates cars, and knows nothing about them. Every four years or so he tells me his budget and nothing else. 

    I buy the car and he comes and collects it -nothing else is said. 

    The same happens with his wife, although she gives me some guidelines about size of car. 

    That’s amazing, does he get your longest days in stock car? What have you ended up sourcing for him given it’s your choice? Something reliable so you don’t hear from him for 4 years?!

  21. Posted · Edited by justlooking

    12 hours ago, Del Boy said:

    Me, he’s only had it a week lol 

    Sorry to hear, least they’ll be happy with the service, great job with the courtesy car, something I’ve considered but my insurer won’t entertain covering me for loan car cover 

  22. Posted

    23 hours ago, Del Boy said:

    Update...

    The leak (as mentioned) is coming from the core plugs. However, this mechanic is great for stuff like cam belts etc but not repairs (clearly)! He has changed the plugs but they're still leaking. I am taking the car to my usual mechanics tomorrow as this is obviously too difficult for him lol.

    I have informed the customer who is happy to continue smokin around in my loan car.

    Sounds like bad timing, will you pick up the bill for the plugs or Customer?

  23. Posted

    That’s very 

    5 hours ago, Arfur Dealy said:

    I'm not really of the FB era, but hey ho you need to move with the times.....anyway up pops this morning a 2005 A4 3.0 TDI SE Quattro Avant with sensible miles 140k and 13 stamps, brand new MOT no advisories, last serviced 5k ago. Its HPI clear..... 

    Now its just my cup of tea, manual with tow bar and in black....... No leather, but who cares........ Purchased for £1650......  When will it go BANG !! 

    198211_10_big.jpg198211_12_big.jpg198211_19_big.jpg

    Car looks great did it come in like that or did you pay the boys at Tesco to sort?

  24. Posted · Edited by justlooking

    5 hours ago, Arfur Dealy said:

    I wouldn't...... Wait until youve got the car, it could come with a file of history from a specialist, or alternatively more Merc MD history which wasn't franchise linked to the previous history, Vendor depending there may be more history on a different plate...... You just don't know until you've got the car. Patience..

    +1

    hold your horses, I’d be surprised if it’s not had a service for 40 odd k, there’s a high chance you’ll find a recent invoice or stamp 

    Although you could carry on and book it in for service and cancel appointment if you find history I suppose?

    we had it recently, 2006 RX400h, 123k, 11 services, all at the stealers, l/s 10/17, I thought ahh ok, won’t need a service.. low and behold I find an additional service in April 18 inc front discs and pads and a 2yr Lexus warranty package that had only just expired 

  25. Posted

    2 hours ago, Andy Entwistle said:

    Seems to be model specific. Trying to sell my own Porsche 996 turbo. Its a good one too. We're always rock solid investments, but prices seem to have softened a little and not seen much interest and at £30k its a good £3k behind book !

    not helped by speculators adding 5k onto the probably 'real' value in hope that they are the next porsche to shoot up in value, there will be someone soon enough if its a nice one