Edward Roots

Wheelerdealer1 sorry to hear that you are closing trading, best of luck with the next venture and as it's still in the motor trade you should be able to hit the ground running with industry knowledge/contacts already acquired. Laws should definitely be put in place to prevent unlicensed trading, it wasn't until I left the spanners and started working in other aspects of the trade that I got an insight into how difficult being a trader actually is and how much costs are involved. Margins seem to be getting smaller and customers have the luxury to search the country without even leaving their home for their desired vehicle. It seems a huge shame that customers are so price sensitive and can't see the added value that buying from a reputable dealer/trader brings.

From the auction side of things it looks as though dealers are bidding on auctions out of hours as well. http://www.am-online.com/news/supplier-news/2015/06/23/nearly-40-of-online-used-car-buyers-bidding-out-of-hours

From talking to traders the impression I get is that the right combination of car (spec, colour, engine) seem to be selling well, but anything less desirable may struggle. Every car will sell at a certain price but it's just a battle to still fit a margin in between the two. I also think that new car pcp's are affecting the used car market, as it is so easy for a dealership to keep refreshing a customer into a new car cycle. Especially with the difference in new car APR compared to used.

I'm a fan of number 12, it's borderline genius