Cathedral Automotive 2 Posted May 14, 2017 Since friends/family have become aware of my new venture a couple have asked me to sell a car for them. Different reasons, one is moving and house and flat out busy running a plumbing business and the other lives away and not here much. I was happy to help, it visually adds to my stock without me having to actually spend any money and there nice cars. They both said from the off, don't expect me to do it for nothing, however I am struggling to work out what to charge? Does anyone on here have any advice, do you do a flat fee or charge a % or do I charge nothing and bank the favour and hope they send some punters my way? Si Share this post Link to post Share on other sites
MrC 142 Posted May 14, 2017 I stopped doing them after the new sale of good act. What happens 2 months down the line when the punter comes back screaming with a fault. You could end up buying back the car. Tell them to sell it themself but maybe offer advice. Share this post Link to post Share on other sites
metcars 397 Posted May 14, 2017 I'm with MrC. I'd spend half my time selling/sourcing cars for family and friends at "mates rates" so I don't get involved any more. Share this post Link to post Share on other sites
CGF 3 Posted May 14, 2017 Another vote from me...it really is a potential nest of vipers that you don't need under any circumstances. Not to mention the potentially quickest way to lose friends and make enemies. As an aside, assuming the cars are viable retail stock for you, why not encourage them to get a valuation from WBAC, then look to step in with a (slightly) higher offer as a 'friend in the trade'? Share this post Link to post Share on other sites
trade vet 701 Posted May 15, 2017 That's what we do.WBAC are generally easy to beat.If it's a 5 grand car e.g.,we explain and emphasise the downside to the sales process and how we need an £800 mark up to net £250 etc. Share this post Link to post Share on other sites
Trident 24 Posted May 15, 2017 We don't do it anymore, but when we did, we offered them trade rate when it sold, that way it was a no risk car on the forecourt for trade money, worked ok, but as usual people now want you to do all the hard graft and reap all the rewards from it... Share this post Link to post Share on other sites
Phil H 124 Posted May 15, 2017 You can sell SOR stock with no comeback to yourself as long as you inform the potential buyer that it's SOR and that they are buying it directly from the owner and the invoice is from the owner to the buyer and not from yourselves, then you invoice the seller whatever fee that you've agreed. 1 Share this post Link to post Share on other sites
It's me 615 Posted May 15, 2017 they see it for sale and think you've trousered all the profit not worth it left hand and right hand never the twain to meet guy i know sold one like this and rang his brotherinlaw up to confirm he would take a dipper on it to make a sale and car came back 3 months later with his brotherinlaw on his pitch chewing the cud quickest way to get a broken leg i reckon Share this post Link to post Share on other sites
have a word with the wife 299 Posted May 15, 2017 lawgistics fought one of these quite recently i recall ? bought from the sales pitch, salesmans wifes car ? car came back, bloke screamed i bought it off your sales pitch ! only thing that saved the day really is salesman proved it was his wifes by showing in court finance agreement in his wifes name [ paid] ! dont, if you could, all cars could be sold this way as a way of getting away from consumer rights...... 1 Share this post Link to post Share on other sites
Cathedral Automotive 2 Posted May 17, 2017 Thanks gents and apologies for my delayed acknowledgement, for some reason my notifications haven't been reaching my email account?!? Anyway some valid points I hadn't considered, that being the case I am going to have a chat with them and reach a mutually beneficial agreement taking into account what you have said. Interesting the point made about lawgistics as they actually have an SOR template in their members area for download? Si Share this post Link to post Share on other sites
Rory RSC 596 Posted May 18, 2017 I have just done an SOR deal for a family member on a car with manufacturer warranty on it never again for family as it has caused me far more hassle than it was worth, when I was actually trying to do them a favour. Sometimes you can't win 1 Share this post Link to post Share on other sites
metcars 397 Posted May 20, 2017 On 18/05/2017 at 9:42 AM, Rory RSC said: I have just done an SOR deal for a family member on a car with manufacturer warranty on it never again for family as it has caused me far more hassle than it was worth, when I was actually trying to do them a favour. Sometimes you can't win It's funny how ordinary people that no nothing about how the motor trade works still have very strong ideas about how they 'think' it works? Share this post Link to post Share on other sites
Daylight 28 Posted May 22, 2017 I've done quite a few. What I will say is either go down the route as suggested from Lawgistics above and act as a legal agent then the CRA doesn't apply (won't stop the angry customer knocking on your door though) or take enough money out of the deal that you can back it up should you need to Share this post Link to post Share on other sites
have a word with the wife 299 Posted May 22, 2017 On 17/05/2017 at 9:51 PM, Cathedral Automotive said: Thanks gents and apologies for my delayed acknowledgement, for some reason my notifications haven't been reaching my email account?!? Anyway some valid points I hadn't considered, that being the case I am going to have a chat with them and reach a mutually beneficial agreement taking into account what you have said. Interesting the point made about lawgistics as they actually have an SOR template in their members area for download? Si he didn't use the template maybe ? Share this post Link to post Share on other sites
Fixedgear 4 Posted May 24, 2017 We do a lot of SOR. Normally speaking we charge £1500 inc vat based on the car selling in 30 days. I have however now moved to a "we can achieve this figure for you" approach. Netting us more margin and taking the pressure off a little. For the purposes of the thread, these are £40-£120k cars Share this post Link to post Share on other sites
grant8064 219 Posted May 24, 2017 28 minutes ago, Fixedgear said: We do a lot of SOR. Normally speaking we charge £1500 inc vat based on the car selling in 30 days. I have however now moved to a "we can achieve this figure for you" approach. Netting us more margin and taking the pressure off a little. For the purposes of the thread, these are £40-£120k cars Sounds brave to me selling a 120k car to earn £1500? Share this post Link to post Share on other sites
Fixedgear 4 Posted May 24, 2017 4 minutes ago, grant8064 said: Sounds brave to me selling a 120k car to earn £1500? A lot of companies are doing it for this figure. With manufacturer warranty and zero outlay, £1200 is ok. We have a car at the moment, promised the customer a return of £41 and aiming to sell for 45. That's the new strategy we're now moving to. Share this post Link to post Share on other sites
SC Derby 259 Posted May 24, 2017 The only issue with that is if you ever have a rejection under CRA - would you then have to stump up £40-£120k to buy the car back? Share this post Link to post Share on other sites
Fixedgear 4 Posted May 24, 2017 9 minutes ago, SC Derby said: The only issue with that is if you ever have a rejection under CRA - would you then have to stump up £40-£120k to buy the car back? There is always risk. I guess fortune favours the brave and so far any issues we have encountered we have ironed out. A lot of our customers become friends strangely enough, it's not like we go to battle with each other like you would over a banger. In my experience, the higher value the car, the easier someone is to deal with. Share this post Link to post Share on other sites
SC Derby 259 Posted May 24, 2017 Yeah that makes sense. I have also done a few deals like this but has been on sub £15k cars and always worked out okay so far. At least you can give them a good going over/drive before you advertise them! Share this post Link to post Share on other sites
metcars 397 Posted May 25, 2017 I had a family member sounding me out about getting him a car. Has to be less that 50k, no more than 2 owners, black red or silver, full history, 2008/2009. Other than that he doesnt care? I suspect sadly the search will take too long! Share this post Link to post Share on other sites
Fixedgear 4 Posted May 25, 2017 3 hours ago, metcars said: I had a family member sounding me out about getting him a car. Has to be less that 50k, no more than 2 owners, black red or silver, full history, 2008/2009. Other than that he doesnt care? I suspect sadly the search will take too long! Does he fancy a Nissan GT-R? Share this post Link to post Share on other sites
metcars 397 Posted May 25, 2017 13 minutes ago, Fixedgear said: Does he fancy a Nissan GT-R? He's not very 'fast & furious' and like most young guys he has insurance issues I think Grande Punto is what he's after 1 Share this post Link to post Share on other sites