Stock turnover

[Noel_96 1]

Hi guys, I’m moving away from the mechanic side of the trade and starting up as a part time trader.

on average how long does it take you to sell your stock? Do you get more leads from online enquiries or from your physical site?

 Thanks 

[David Horgan 564]

That's a pretty basic question my friend when starting out .

There are a thousand different variables that will give multiple different answers to that question .

Online sells , but will depend on which online platform you use for what car and which package of advertising you choose , to what car your selling at what price in which price range of car . 

Pitches sell cars and walk ons are still a popular variable , but again depends what street , what town , appearance of pitch , reputation of your self . What car is popular round you and your competition. 

Oh by the way don't sell your spanners you will be needing them to prep cars . or they will yoyo back to you very quickly . 

 

All the best . 

 

[justina3 518]

Trust me the grass isnt greener over our side.

[Noel_96 1]

Thanks for the kind reply’s I guess it’s a game of trial and error, as I’m just part time I’ll just try autotrader and Facebook for now.

the plan is to sell the boring general cars ie ford, Renault vw Audi for no more than 5k, I’ve already got warrantywise setup to take care of that aspect of things.

I down a Land Rover so there’s no chance of me selling my spanner’s just yet.

[Halfpenny 114]

A lot depends on location. For example we are close to a town centre. Major hospital 15 mins walk away. One university 15 mins walk. Second university about 20 mins walk. Big shopping mall 15 mins walk. We also have a police station not far away (mind you, after a number of bad experiences I don't encourage their custom!). We offer sales and service/MoT. Huge number of repeat customers on workshop side. Large proportion of walk-ups on sales. Can sneak into uni's and hospital with a handful of postcard-sized ads and pin them to the staff noticeboards - its free and surprisingly effective. Have a website. Autotrader OK, but IME Facebook is a magnet for illiterates and Borats.

If you are out in the sticks then you're going to be much more reliant on online channels.

[Rory RSC 596]

20 minutes ago, Halfpenny said:

A lot depends on location. For example we are close to a town centre. Major hospital 15 mins walk away. One university 15 mins walk. Second university about 20 mins walk. Big shopping mall 15 mins walk. We also have a police station not far away (mind you, after a number of bad experiences I don't encourage their custom!). We offer sales and service/MoT. Huge number of repeat customers on workshop side. Large proportion of walk-ups on sales. Can sneak into uni's and hospital with a handful of postcard-sized ads and pin them to the staff noticeboards - its free and surprisingly effective. Have a website. Autotrader OK, but IME Facebook is a magnet for illiterates and Borats.

If you are out in the sticks then you're going to be much more reliant on online channels.

They really are not pleasant to sell cars to. Terrible customers, had a few problems and that have ended up being linked to that proffesion.

[MattR 177]

15 hours ago, Noel_96 said:

Hi guys, I’m moving away from the mechanic side of the trade and starting up as a part time trader.

on average how long does it take you to sell your stock? Do you get more leads from online enquiries or from your physical site?

 Thanks 

when you say part time, do you mean you are continuing the mechanic side of things or are you doing something else so you can only do the sales part time?

 

I think your mechanical knowledge will help you, you can buy stuff where you know how to fix it which may scare others off. As David has said, different online channels work for different people, you will find one that works best for you by trial and error. there is no answer to the length of time to sell a car, but prep well, quickly and take good pics, know your prices and you will improve speed of sale.

[Noel_96 1]

I’ll be continuing my career as a mechanic until sales take over also helps having half day Fridays, Also have a recovery truck to take care of collecting from the auction houses etc 

[Halfpenny 114]

10 minutes ago, Rory RSC said:

They really are not pleasant to sell cars to. Terrible customers, had a few problems and that have ended up being linked to that proffesion.

Indeed...  tell me about it!

We had one (motorbike copper) come to look at a Audi A4. Agreed to buy it. Comes back three days later to collect it. No drama at this point. Next day he turns up on his police bike claiming that when he first looked at the car and agreed to buy it, it had new Continentals all round. But when he checked after getting home they were 'old' tyres - accused us of swapping them! Obvious BS but he argued very aggressively for about an hour.

Another one last year bought a 2012 3-series for his wife. Came back after six months because it had developed the classic F30 steering knock. I offered to repair it FoC there and then - lift home for him, valet and deliver the car back. He was very aggressive - wanting full refund on the vehicle saying he and his mates would be "looking out for us" etc etc. I did think about making a formal complaint but decided against in the end.

Yet when we had our security gates broke open, attempted theft of a Focus ST - all on HD CCTV with a reg. no. captured, we couldn't even get any of them to look at the video. Bloody shambles!  The local area has turned into a cesspit in the last few years - like downtown Mogadishu - there is routine open drug dealing within 500 yds of the police station. Zero enforcement...

[Frank Cannon 812]

1 hour ago, Halfpenny said:

Indeed...  tell me about it!

We had one (motorbike copper) come to look at a Audi A4. Agreed to buy it. Comes back three days later to collect it. No drama at this point. Next day he turns up on his police bike claiming that when he first looked at the car and agreed to buy it, it had new Continentals all round. But when he checked after getting home they were 'old' tyres - accused us of swapping them! Obvious BS but he argued very aggressively for about an hour.

Another one last year bought a 2012 3-series for his wife. Came back after six months because it had developed the classic F30 steering knock. I offered to repair it FoC there and then - lift home for him, valet and deliver the car back. He was very aggressive - wanting full refund on the vehicle saying he and his mates would be "looking out for us" etc etc. I did think about making a formal complaint but decided against in the end.

Yet when we had our security gates broke open, attempted theft of a Focus ST - all on HD CCTV with a reg. no. captured, we couldn't even get any of them to look at the video. Bloody shambles!  The local area has turned into a cesspit in the last few years - like downtown Mogadishu - there is routine open drug dealing within 500 yds of the police station. Zero enforcement...

Up there with teachers and have dreadful 'no issue, drives lovely' part exs.....last one an Insignia owned by a husband and wife pair of coppers....

..... with no windscreen wipers.....yes, they stole the wipers during the deal, I ask you, how f*ucking cheap can you get? 

[Halfpenny 114]

58 minutes ago, Frank Cannon said:

Up there with teachers and have dreadful 'no issue, drives lovely' part exs.....last one an Insignia owned by a husband and wife pair of coppers....

..... with no windscreen wipers.....yes, they stole the wipers during the deal, I ask you, how f*ucking cheap can you get? 

Bloody hell!

Our customers from the NHS and the two universities are mostly pretty decent. We try to retain them by giving a discount on service on production of a staff card.  We get lots of recommends and also try to accommodate shift patterns (seems that some NHS staff work 12 hr shifts so they want to drop off early and pick up late, or vice versa).

On the subject of stock turnover, I think I read recently it was down to an average of 22 days - which is historically low. That's an average of course and very much depends on the vehicle and your local market. Our experience at the moment is that 1-3 year SUV/crossovers moves quickly. And a very tidy red 2014 GT86 within 5 minutes of it going live. City/first cars seem to be languishing a bit right now. Got a 108 and a Citigo both at over 2 months, which is a bit of a puzzle.  Many years ago in my early days in the trade I had an Alfasud Sprint Veloce - nice car but with vivid orange paint - it took root for about 18 months.... did sell eventually but probably a record for me.

[Noel_96 1]

1 minute ago, Halfpenny said:

Bloody hell!

Our customers from the NHS and the two universities are mostly pretty decent. We try to retain them by giving a discount on service on production of a staff card.  We get lots of recommends and also try to accommodate shift patterns (seems that some NHS staff work 12 hr shifts so they want to drop off early and pick up late, or vice versa).

On the subject of stock turnover, I think I read recently it was down to an average of 22 days - which is historically low. That's an average of course and very much depends on the vehicle and your local market. Our experience at the moment is that 1-3 year SUV/crossovers moves quickly. And a very tidy red 2014 GT86 within 5 minutes of it going live. City/first cars seem to be languishing a bit right now. Got a 108 and a Citigo both at over 2 months, which is a bit of a puzzle.  Many years ago in my early days in the trade I had an Alfasud Sprint Veloce - nice car but with vivid orange paint - it took root for about 18 months.... did sell eventually but probably a record for me.

Any idea where you read that? I’f it’s motor trade based I might be interested in having a read of their latest posts.

most of my stock I think will be up to 9 years old and preferably around the 3-5k mark so most SUV’s are out of the question. However an average of 22 days means (potentially) fresh new stock every month.
 

just a game of trial and error and building enough cash to try different markets. Either way it’s all fun!

[Halfpenny 114]

30 minutes ago, Noel_96 said:

Any idea where you read that? I’f it’s motor trade based I might be interested in having a read of their latest posts.

Found it on this site....its in this news item. Whether its accurate or not is another matter...

https://cardealermagazine.co.uk/publish/strongest-ever-may-on-record-for-used-car-sales-and-1-7m-lost-transactions-could-fuel-demand-for-rest-of-year/226341

 

[Lakeside 94]

1 hour ago, Halfpenny said:

City/first cars seem to be languishing a bit right now. Got a 108 and a Citigo both at over 2 months, which is a bit of a puzzle.  

Could be due to the huge backlog of driving tests? Not many youngsters passing at the min. 

[Noel_96 1]

8 hours ago, justina3 said:

Trust me the grass isnt greener over our side.

It’s the motor trade it’s not even a shade of green 

[BHM 994]

16 hours ago, Lakeside said:

Could be due to the huge backlog of driving tests? Not many youngsters passing at the min. 

The daughter can’t even get a test date at the moment & the painter’s son has just failed & I’m told his retest is next year. Also, tbh anyone who has the sense to check other cars for insurance quotes they soon realise they don’t have to be sat in a 1.0 peasant car.

Edited June 29, 2021 by BHM

[MattR 177]

Also some really strong deals on new small cars at the moment, 130 -150 per month common place with 5-8000 miles per annum

[Halfpenny 114]

8 hours ago, BHM said:

The daughter can’t even get a test date at the moment & the painter’s son has just failed & I’m told his retest is next year. Also, tbh anyone who has the sense to check other cars for insurance quotes they soon realise they don’t have to be sat in a 1.0 peasant car.

Christ!......I hadn't realised the test situation was that desperate. Explains why this 108 has be sat here two months. In normal times the 108/C1/Aygo have been fast movers for us.  

[Noel_96 1]

3 minutes ago, Halfpenny said:

Christ!......I hadn't realised the test situation was that desperate. Explains why this 108 has be sat here two months. In normal times the 108/C1/Aygo have been fast movers for us.  

this is the exact market I was planning on starting in first due to limited funds, only time will tell I guess

[BHM 994]

2 hours ago, Noel_96 said:

this is the exact market I was planning on starting in first due to limited funds, only time will tell I guess

The LAST thing I’d suggest anyone tries starting off in is the cheap small car market. Cheap small cars = small profits due to the cheap greedy bastards who buy them - obsessed with CHEAP tax, CHEAP to run, CHEAP to insure, CHEAP FUCKING EVERYTHING!! 

There are plenty of cars you can make reasonable profits from with modest funds - swimming in the small car sea is definitely not the way to do it. 

[Rory RSC 596]

9 minutes ago, BHM said:

The LAST thing I’d suggest anyone tries starting off in is the cheap small car market. Cheap small cars = small profits due to the cheap greedy bastards who buy them - obsessed with CHEAP tax, CHEAP to run, CHEAP to insure, CHEAP FUCKING EVERYTHING!! 

There are plenty of cars you can make reasonable profits from with modest funds - swimming in the small car sea is definitely not the way to do it. 

Bang on.

 

sell some mondeo / galaxy size cars with a fresh oil change and a new mot ten times easier 

[BHM 994]

8 hours ago, Rory RSC said:

sell some mondeo / galaxy size cars with a fresh oil change and a new mot ten times easier 

Only 10 times easier? I think you’ve missed a zero off that figure.

For Noel I immediately thought of cars like Focuses (good spec models only), a few Passat estates (don’t be tempted by Octavia dross - the punters are pitiful), 7 seaters or crusty old 4x4s - proper punters with the chance of reasonable profits turned over in decent time.

A fresh ticket on this sort of stuff immediately raises your cars to the top 20% of the market. 

[Halfpenny 114]

16 hours ago, BHM said:

The LAST thing I’d suggest anyone tries starting off in is the cheap small car market. Cheap small cars = small profits due to the cheap greedy bastards who buy them - obsessed with CHEAP tax, CHEAP to run, CHEAP to insure, CHEAP FUCKING EVERYTHING!!

I agree that cheap cars means small profits. However I disagree that 'cheap greedy bastards' buy them. Most of the 'greedy bastards' I meet are not driving small cars!

We are located near a big hospital and two universities and so get a lot of student nurses etc bringing in city cars for service and repair. They are generally perfectly decent customers. We treat all of our customers with respect and don't denigrate them based on their choice of car - a lot of people simply need cheap and reliable basic transport, nothing wrong with that. For a student etc the 108/C1/Aygo are a very sensible choice - solid Toyota mechanicals, Denso electrics etc - bit heavy on brakes and clutches but true of any city car.

Our most difficult customers are the ones who break the bank to get into something flash but then have no cash for service and repair. Good example last week is the Evoque dragged in with bolts snapped on the rack assistance unit - JLR shite. We quoted and got authorisation to repair. Repair completed and he 'doesn't have money to pay for it this week!'.  Car is immobilised in the yard until he comes up with the money. These characters are always mouthy fat balding blokes - no idea what's wrong with the car but know its not going to cost much to fix. Sometimes its difficult to stay cool and professional. 

[David Horgan 564]

19 hours ago, Halfpenny said:

I agree that cheap cars means small profits. However I disagree that 'cheap greedy bastards' buy them. Most of the 'greedy bastards' I meet are not driving small cars!

We are located near a big hospital and two universities and so get a lot of student nurses etc bringing in city cars for service and repair. They are generally perfectly decent customers. We treat all of our customers with respect and don't denigrate them based on their choice of car - a lot of people simply need cheap and reliable basic transport, nothing wrong with that. For a student etc the 108/C1/Aygo are a very sensible choice - solid Toyota mechanicals, Denso electrics etc - bit heavy on brakes and clutches but true of any city car.

Our most difficult customers are the ones who break the bank to get into something flash but then have no cash for service and repair. Good example last week is the Evoque dragged in with bolts snapped on the rack assistance unit - JLR shite. We quoted and got authorisation to repair. Repair completed and he 'doesn't have money to pay for it this week!'.  Car is immobilised in the yard until he comes up with the money. These characters are always mouthy fat balding blokes - no idea what's wrong with the car but know its not going to cost much to fix. Sometimes its difficult to stay cool and professional. 

We got one too pal , Audi S3 on finance , had his mirror smashed , Wanted it fitting and supplying , bill was eye storming £600 and now he cant pay  he knew the what the bill was , same as you its behind two cars now while he saves up, wanted us to stump the money up while he pays us weekly  No sir weve already paid for it my friend now its down to you . 14 days or interst will accrue on a daily basis of 2% per day 

[Noel_96 1]

By cheap cars I mean the 2-5k market