May 2017

[betginge 73]

another one today

Strangely not on finance, my first cash sale on this pitch. Customer Bought a kia Vanga on the 60, nice car to be fair and I have had lots of interest in it this week. surprised how popular it was.

 

@grant8064 another crap day for declines, we had 4 on thursday all turned down, 1 yesterday and 2 today. Leads seem to have slowed down since Tuesday, most of the local dealer mob this end are telling me they are generally quiet.

[SC Derby 259]

Couple more this afternoon.

[grant8064 219]

On 2017-5-20 at 5:13 PM, betginge said:

another one today

Strangely not on finance, my first cash sale on this pitch. Customer Bought a kia Vanga on the 60, nice car to be fair and I have had lots of interest in it this week. surprised how popular it was.

 

@grant8064 another crap day for declines, we had 4 on thursday all turned down, 1 yesterday and 2 today. Leads seem to have slowed down since Tuesday, most of the local dealer mob this end are telling me they are generally quiet.

Yer we had a few props over the weekend, got one on but I doubt we'll ever see the customer again, the rest were instant rejections. Part and parcel really.

On the subject of Vengas/iX20s - Always done very very well with them myself. Great sit up and beg cars with loads of kit. Natural successor to the Fusion IMO

[betginge 73]

4 hours ago, grant8064 said:

Yer we had a few props over the weekend, got one on but I doubt we'll ever see the customer again, the rest were instant rejections. Part and parcel really.

On the subject of Vengas/iX20s - Always done very very well with them myself. Great sit up and beg cars with loads of kit. Natural successor to the Fusion IMO

Agree with that, I will be buying venga and ix20 when they come up right money.

Since car finance company went on the wobble few months back and now is on reduced lending working with only 15 dealers (Im not one of them ) the market has gone on the defence. Lots of dealers have jumped with other subprime lenders which has just made a mess of things IMO. Once stability comes back and a new lender comes on with some new funding I think we will see more acceptances. Looking at my Prop screen the other day and it was a sea of red Declines. If 1/3 of my declines had gone through since we opened few weeks back we would of done very very well. 

Anyway it is what it is, Just keep hacking away at the leads to find customers for cars.  

[have a word with the wife 299]

had a customer waiting outside this morning  test drive, deposit, all done for nine forty.

been a long time since i can remember someone waiting on the door, youll never ever suss this job out 

[GreenGiant 287]

Absolutely dead for the last couple of weeks.

Then 8 enquiries before 10am yesterday. What's that all about? Nothing's changed this end.

30 years in the biz and I know nothing.

[Cornish Guy 45]

Big dealer group in the South West are heavily advertising on the radio a 10 day, 100 used car cost sale

[betginge 73]

Corsa on the 58 on tuesday, and got a guy on a Eos today looks like he going ahead, punter prop on a 207 monaco for the morning due in.

Got rid of a banger on the other site to, less than 12 hours on sale, little fabia 

It is quiet still, really had to work hard and advertise to get the leads in this week.  

[betginge 73]

16 hours ago, betginge said:

Corsa on the 58 on tuesday, and got a guy on a Eos today looks like he going ahead, punter prop on a 207 monaco for the morning due in.

Got rid of a banger on the other site to, less than 12 hours on sale, little fabia 

It is quiet still, really had to work hard and advertise to get the leads in this week.  

 

Well the 207 lady went quiet did not turn in and switched off her phone.  more applications today all turned down by my main lender, I have added a few more lenders on board this week to try next week as I am getting a little tied with this particular well known subprime lender and there criteria to refuse every deal we prop.  Seems to me they want near prime customers on subprime rates.

 

[Mike-Ktl 2]

had a quiet week here. just a few browsers. hot weather and bank holiday keeping people away I guess. 

[andymc1973 199]

betginge, can you not get a broker on board who gets paid per deal?

these guys are very good up my way

http://www.refusedcarfinance.com/

 

not sure if they cover your area

[betginge 73]

We now have a broker on board so we now have near 15 lenders available including a couple of direct lenders, of which 8 cover near/subprime, The situation this time last year (based on friends in the same sector) and now are worlds apart, The reps will tell you everything is great no issues and we are lending, Promise the world deliver barley nothing.

IMO they have all tightened up lending criteria big time, I am convinced this is to do with the car finance company reduced lending, almost pulling out of the market. its worried the other lenders and their backers so they have tightened up in panic. 

The only hope we have is there is a couple of new black box players coming on board in the coming months with new lending stream, this will have knock on effect to the other lenders who will lose props to them and will have to adjust back. I am just going to sit this one out and keep milling away at the leads to get the odd approval.

[Cornish Guy 45]

2 hours ago, tradex said:

Broom sweeping at ASDA is looking more rosey every year.

It will be at £10/hr under a Corbyn government!

[betginge 73]

Another day of crap leads landing in the inbox. got a couple of props in, one still pending but is being difficult to contact, the other was the normal lying swine who tells you they have not been looking for a car until now. Reality is they have had a car repossessed just a few months back and have been applying for finance with every tom dick and harry since. The other  5 leads the typical don't pick up the phone. 

Very quiet at the min 

[umesh 336]

8 hours ago, betginge said:

Another day of crap leads landing in the inbox. got a couple of props in, one still pending but is being difficult to contact, the other was the normal lying swine who tells you they have not been looking for a car until now. Reality is they have had a car repossessed just a few months back and have been applying for finance with every tom dick and harry since. The other  5 leads the typical don't pick up the phone. 

Very quiet at the min 

Is it really worth the hassle of getting into that market ? ( Sub prime )  How's the website looking/ doing ? (link?) .. Sadly as you say so many tell you so may lies , don't they realise their cards are marked if they've been a wee bit naughty !!!  

[trade vet 697]

1 hour ago, umesh said:

Is it really worth the hassle of getting into that market ? ( Sub prime )  How's the website looking/ doing ? (link?) .. Sadly as you say so many tell you so may lies , don't they realise their cards are marked if they've been a wee bit naughty !!!  

I recall the first sub prime we did 20 years ago- it was a marathon to get out.Next day the car was back for no reason.Welcome Finance said that is OK,it often happens,just tear up our cheque! After that we never promoted sub prime.Mind back then,only about 10%. of finance proposals were rejected.Now, you have repeat customers who were always good for finance in the past getting rejected because at some stage they have a applied for a Wonga type pay day loan and had their credit rating destroyed.It would help if people understood this !

 

 

[Tadams 29]

On 2017-5-13 at 7:45 AM, Mojo121 said:

Which lender/broker are you using?

Is there a way of just referring the business? I would prefer not to be FCA regulated.

Do many of you guys/girls prop to Zuto to broker your deals ? 

[M.J 35]

Sub Prime - I gave up on sub prime, got so sick of processing around 100 applications to get 1 to stick, was spending most of my day processing applications, facebook seemed to attract the worst for me, most of the time the customer will tell you that they've had ''a few missed payments 5 years ago'' when in reality they've been repossessed, blacklisted and are wanted by the inland revenue! Then complain that the APR is high 

I pass on any sub prime inquiries to a broker.

[MrC 142]

Thats the third crap month on the trott. 

[M.J 35]

I had a good first half then hardly any enquiries for the second half! Not holding out much hope for June

[DHill 16]

Similar story here, most of business done in first half of the month, second half was very quiet and enquiries non existent. Sold 2 today which is welcome, let's hope it carries on. 

[betginge 73]

So quiet at the min 

Got a approved prime customer on a 08 c180 who is due in next week when he can get down. Also got a sub prime customer on a mazda 5 looking promising, Should be able to get them down to tomorrow and try to deal.

feel like writing off this week