Max Branning

Was you doing things differently before, ie different stock profile, cheaper prices, different advertising platforms ? Do you have a contingency fund for the bad times? this often gets overlooked but if you are 100% relying on the retail motor trade as an income then i think everyone should have one. Each person would probably come up with a different figure but personally i would want minimum 3 months living costs tucked away that only gets touched if i cannot draw a wage from the business on a downswing. When things pick up you can top up the contingency account and should do so regularly when you can to build it. This helps to take the weight off so you can concentrate on the day job and still pay the bills ( in the short term ) Another option as a home trader is you have the luxury of being able to take on a job as well when things turn bad, still doing 2 or 3 on the side and building up a cash pile in the process.

Its easy to have a wobble when its slow, same as its easy to get over excited when your flying. End of year results are what matter not a good or bad week. If you have the right stock, prepared well, advertised well, priced well...then all you can do is wait for the car to sell, and it will eventually, they always do. Cars wont go out of fashion , people don't like walking or public transport !

You can only have a trade policy if you are actually involved in the motor trade. It is not a choice.

I wouldnt sell property to then build the car sales. I would hold the property assets tight as long as they cashflow well long term this will pay you more. If anything i would be trying to grow the car sales organically and keep investing in property as an end game. Each to their own though of course.

If you are mainly doing commercials then makes sense to register. It will just make things simpler going forward. Buy van + vat = sell van +vat.

Proper Jaguar buyers are ok...its the x type buyers you have to watch, buying a posh mondeo makes them feel very special !

Are these 2 or 3 seats ?

I think both them types of van are only 2 seaters. Unless you get a crew van but then have no load space. You would probably be looking at an expert as the smallest 3 seat van.

Amen

If i had a £1 for every time someone told me that i would be retired by now !

You do not have to extend the warranty though if you do not want to. Just give your own 3 months as standard and thats it. If the customer wants to buy an insurance backed warranty separately for whatever term they choose then thats up to them, let someone else deal with them !

Ok thanks all...i would like individually but have no button ? Seems like everyone is on the Mot once in stock route so i may start doing this as well, maybe just a bit of ocd but i hate selling a car without a full 12 months ticket !

I include a full 12 months Mot on all cars sold, i really like it done either the day before or on the day the customer drives away, so i prefer to take a deposit then get Mot done before collection. I have lost out on 2 sales this month though by customers that simply cannot wait a day or 2 and want to drive away there and then. So i am thinking of now getting cars Mot'd when they come in to stock so they are in theory ready to drive away but what happens when they sit for 2 or 3 months or longer, i really am not happy sending a car out with only 9 months test even if the customer is ! What do you chaps do ?

Climbing ups the easy bit, its trying to get back down that's hard... To be honest some days i would rather be climbing that tower !

The more expensive the car the more prep required, this stands to reason. On a sub 3 grand car i would say fresh MOT, good valet and maybe a service is all that's necessary. 3 grand plus and i would be looking at getting paintwork, alloys refurbed etc but at the end of the day it depends how much profit is in the car. Do not prep the profit out of it !