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 !

Thats true if you are aiming just to the local market but a London buyer may think differently. Photoshopping would be worthwile especially the amount of time taken on video etc.

Your videos are good but in my opinion on old stock like this its the wrong type of video to be making. Your style of videos are the sort of thing i would expect a franchise to be doing. Personally i would do a full walk around video of the car and highlight the good and bad bits which inevitably a 10 year old car will have.

I think a lot of it stems back to when a clock ran to 99999 then went back to 0 100k has been around the clock ! I like the leggy stuff personally, always a bit wary of low mileage diesels, why does someone buy a 3.0 diesel to do 5k a year in ?

Had one in yesterday looking at a 12 plate done 118k, he didnt know the mileage at first but saw the car loved it, loved the price, as soon as he found out it had done more than 100k he nearly fell on the floor ! This is a diesel btw so to me personally with decent history 118k is nothing on a nearly 9 year old car, just above average you could say. 100k seems to still be the magic number with customers, anything over this and they feel its "high mileage" and not much life left. I feel more like 200k should be the magic number ?

The fact its white with black wheels and tinted windows would put me off straight away ! Boy racer car sounds like ? Typical estate buyer might be put off ? If its got problems adjust your offer accordingly, any initial valuation is based on car being 100% yes ? Work out what you expect to spend on it and what you expect to retail it at. Then offer from there... If its not good enough for him then let him walk.

I use a couple of MOT stations and i have noticed with one place in particular they seem to be a bit picky with their advisories since the changes last year. For example silly things like "rear indicator lamps slightly discoloured" even when its not noticible - to me anyway ! Has anybody else noticed this since the MOT changes last year or is it just me ?

People that tell me what their p/x is worth. Fiat multiplas

I totally agree in terms of property investment leverage will always make you more money, but it has to be done sensibly. After the crisis lenders tightened up which meant people needed skin in the game to operate, around 25%, previously you could literally build a portfolio with no money down which was a disaster waiting to happen. I see the stocking loans as similar as in you can acquire a high value stock with none of your own money invested, in the wrong hands this will head the same way, people overpaying, sitting on stock too long debts mount up and bang... Dont get me wrong i still think if done sensibly it is a good way to build the business but i would advise newbies to be cautious from jumping in and trying to run before they can walk.

The leverage debate could go on all day. If used correctly and with eyes wide open then yes it can enable you to grow quicker and make more money....BUT....most people overestimate their ability to handle debt, everyone who starts in business thinks they will make money, the majority do not. I would advise a new or newish say less than 2 years in the game avoid borrowing large sums and try and grow naturally if possible. Leverage is a double edged sword, when things are going good then its great...but when things are bad it becomes EXTRA bad.... This stocking loan bubble is bound to burst at some point...it reminds me a bit of the buy to let market early 00's when you could do same day remortgage etc to build a portfolio grow exponentially and have 50 houses in a few years......some of them people have done well but a lot are either bust or stuck in negative equity kept alive by low interest rates....

Shop you for what ? Its not illegal to trade from home. As long as you are courteous of your neighbours and dont have cars littering the streets with sale boards in the windows then the council will have little interest in you. If you have the space to do it and i assume a little spare cash to get going then it makes sense to start buying and selling a few from home to get back in the swing of things...