Rory RSC

our card payments are with us the next working day. No one has charged back a car we have sold.

8 Cars sold today! Best day ever!!! rushed off my feet all day.

First day back from tenerife here for me Steve. 3 sold so far, 2 with deposits on not the worst start. Fairly quiet though not much coming through in terms of leads etc.

Know more rights than the customer. Engine management light came on... was not there when the customer bought the car.

What does an advert in the local press cost ?

Good point Phil. We have a local broker who I have told to charge a £150 admin fee on any deals they send us. Customer must pay full screen price. They can keep the admin fee. Sent us a few deals now long may it continue.

Used to tell them I had a car sales business dealing with higher end stuff. Needed the full v5 for insurance a it was being driven back on trade insurance. I dont have have a brother. most people do not like to think you are making money off them . Worked for me.

get the car gone mate.

I used to buy privately. you could go to the person, suss if genuine test drive haggle over faults and it teaches good negotiation skills. I used to find adverts on gumtree and ebay that were quite badly written and came up with a story about how the cars were for my brother. People don't like selling you their car if they feel you are going to make money on it. A good clean, good pics and on Autotrader and they sold for more money. Harder to buy at auction as faults can be hidden limited time with the cars etc.

I started with less than that 3 years ago and now have approx 30cars in stock and am selling 30/40+ a month and making a good living. It can be done. No one helped me, no one bailed me out and I have learnt a hell of a lot along the way. I I had another means of income for the first 2 years so never needed to take a penny out. 5k is simply not enough for a full time job.

Does it bring in many leads/sales for you at the moment ? I think you are picking a time of year where it's going to go quiet anyway so may make it hard to measure any results.

Exactly makes no difference to price. Just another excuse to not pay out. we have had a few disputes with them on parts they should cover. We are switching to self administered policies once I get a chance to sort it. Amount we are spending with them is mental. Almost 10k in 3 months. Saw no where near that back.

Regardless of history I just put last service only in the warrantywise portal on every car. You out should get some good will out of them if you kick up a fuss.

I use nextgear. We turn our stock quickly and it works for us.

Where in the country are you Paul? That will alter your selection of auctions available. used cars will fall under the vat margin scheme. This means you pay vat on the margin between what you buy the car for and what you sell the car for. Not your profit. Legally you do not have to offer warranty on cars you sell. It helps aid confidence.

We had no problems getting Funding from nextgear. Nice rep very helpful and knowledgeable about the product. If you are quick to turn your stock ( 5 from 7 suggests you will) it should work well.

That is my view on it Umesh - The figures they have come back with look completely skewed because of this. Thanks Martin - That is actually the format we do things in. Going to have a conversation with them on Monday and get this sorted.

You would think it would be a good place to start but the conversation resulted in more questions than answers. They have suggested not showing the stock funding loan anywhere in the accounts at all. To my mind this just simply cannot be right. For each vehicle purchased on stock funding we are making still prepping the car and each funded vehicle will still have prep money tied up in it which we do account for.

Can anyone assist with a query I have regarding end of year accounts and stock funding. Not sure the correct way in which this should be shown and how to demonstrate this on the accounts correctly. Appreciate any advice.

You don't have to give them the PX back. If you have invested time into MOT testing the car, servicing the car and buying 4 new tyres and a steering rack etc etc then unless the customer wants to pay for all the jobs done then just refund them the invoice price. Got a screamer or just hypothetical Max?

Every car is ready for same day drive away. Cant budget what's needed without doing that. The MOT situation has never been an issue for me as the stock cars will only do a couple of miles once MOT tested. Helps cash flow instead of having loads of cars sat in our yard waiting for collection.

Checked one of my old cars which was sold on 38k @ 2 years old. First MOT at 3 years it was on 28k. hmmm

Anyone bother with Astra VXR's? have seen some good margin out of them recently. Make sure you know a good gearbox recon place before bothering with them though lol.

We always have a new MOT on every car. We have our own workshop and MOT externally. We spread the work between 3 local MOT stations. We always ensure a clean MOT and do any advisory jobs. For the most part we do the work first then put the car into test and have a high pass rate. Changed this so that we now MOT and let the car fail we then do the failure jobs plus advisory jobs and keep a copy attached to the certificate. On a car that passes but for example has an advisory like front pads low or osr tyre low we then replace the offending item and the MOT centre checks over and stamps the test. Combined with a mechanics PDI report and an external MOT I think it would be difficult for a customer to prove a fault was present at the time of sale. Only one customer has mentioned the 30 day right to reject so far. A customer has had the back box fall off a Mondeo after driving almost 2000 miles in 3 weeks. I explained that the fault was not present at time of sale and he came round. The AA recovery guy that came out to him had told him about right to reject....not impressed as the AA cover was provided with the warranty we offer on the car!

Never do well with small cars. Corsa/fiesta/jazz/yaris/aygo anything like that all seem to sit for ages and I end up just getting my money back. First time buyers are so fussy it is unreal.