Home Traders Finance Option

[Stephen 21]

Hi

Just wondering how many home traders offer buyers finance on cars

Also how many have world pay card machines or is it all cash and bank transfers

Thanks

[Stephen 21]

Is this in wrong place? Or just no one want to talk lol 

[trade vet 702]

Hi Stephen,I have never heard of a doorstep trader being accepted for a credit licence.Also,I very much doubt whether bona fiide finance companies would do business with a doorstep trader.......Sorry !

[Row 71]

Hi Stephen, I am a home trader and I deal with Close and others no problem, I would suggest calling Close and the rep will help you get sorted. 

[MattGM 12]

Before you go any further, you've looked into eligibility for a conumer credit license?

[andymc1973 199]

mate, you're running before you can walk

[Stephen 21]

Thanks for help.

Ive had finance license in past in previous industry so pretty sure I should be ok

Yeah your probably right just thinking that people who buy 4/5k cars might want finance and if they do they wont come to me if I don't offer it want to appeal to full market I can

Yeah I sound naïve but I'm happy to put the hard work in and I know I will lose on some and have issues but will succeed long term. Got world pay to sort card machine out not sure if I should charge people to pay on card or not but its under 1% of invoice total and again people do like to pay on card for security and fact that they might have interest free cards. Know that's how I used to buy mine.

All help so far has been fantastic and I do appreciate it. I will speak to close and see how we get on

thanks for help again appreciated!!!

Hopefully get first card this weekend and see where it goes, hopefully not putting them in auction praying not to lose to much lol

cars this weekend whoops

[andymc1973 199]

do not encourage credit cards, google section 75, mate you need to start with bangers

[Stephen 21]

ok just worried about the problems with bangers coming back? id your selling for 500/1000 with 200/500 profit by time pay advertising take into account time and trade ins etc all it takes is a problem with it and I'm losing money

I see your near me how fo doing at minute most traders ive spoke to around here have picked up massively in last month

thanks for help it is really appreciated as you can tell I'm new lol

or are you scared of the competition your in my village lol

[andymc1973 199]

No I just don't want you to fall into the many traps I did

[Stephen 21]

Ahh thanks but I guess it's only way I will learn thanks 

[justina3 518]

Why does everyone assume bangers will come back, i sell loads of sub 2k cars, same rules apply to what ever you sell, buy them with low miles for the year good specs and then a good pdi and away you go, i have far less trouble than a friend who deals in more up in the year stuff.

 

[Stephen 21]

Ahh ok thanks for your help definitely stat looking at sub 2k then thanks for help

[BHM 994]

18 hours ago, andymc1973 said:

do not encourage credit cards, google section 75, mate you need to start with bangers

If they can't scrape together the money for a banger then they certainly wont be able to afford to maintain it = sort of punter likely to come back. 

[metcars 397]

2 minutes ago, BHM said:

If they can't scrape together the money for a banger then they certainly wont be able to afford to maintain it = sort of punter likely to come back. 

To be fair, not everyone aspires to own or wants to have lots of money tied up in a "German performance saloon". Lots of punters buy bangers because they do their own servicing/repairs, and know exactly what they are looking for. It's not about buying 'anything' for 2k, its about buying another 'focus' 'clio' 'mondeo' like the last one?

In my experience

[justina3 518]

Totally agree with above, another angle we get a large amount of first time drivers and even aim our stock at that market so parents and grand parents chip together to get the child there first car and are quite stringent in what they want accident damage service history all the usual due diligence questions and the last one they ask is how much is it, more interestered is the car straight rather than if it's the cheapest they can afford.

we also get a lot of repeat custom from these first time buyers as there insurance discounts grow so they move up in cars and come back to us.

 

 

[BHM 994]

1 hour ago, metcars said:

To be fair, not everyone aspires to own or wants to have lots of money tied up in a "German performance saloon". Lots of punters buy bangers because they do their own servicing/repairs, and know exactly what they are looking for. It's not about buying 'anything' for 2k, its about buying another 'focus' 'clio' 'mondeo' like the last one?

In my experience

I couldn't agree more. I sell plenty of cheap shite but in my experience the punters who can't even afford the entry fee are the sort of punters who expect you to maintain their car for them.

Edited July 16, 2017 by BHM

[Stephen 21]

Ok thanks this site is massively helpful I'm definitely going to try and buy 5/6 under 2k and think I need to do it from a small unit not at my house 

thanks again for all the help appreciate it!!!

[Stephen 21]

Ahh right not sure on that the unit I'm looking at is kinda industrial but there is people doing retail in nearby units so should be fine

needs a paint on outside and probably the floor painting already got bit of an office and it's 3000 sq ft ish 

so think its all I need and  more just need to get some cars lol

thabks for advice again appreciated 

 

[have a word with the wife 299]

3 hours ago, Stephen said:

Ahh right not sure on that the unit I'm looking at is kinda industrial but there is people doing retail in nearby units so should be fine

needs a paint on outside and probably the floor painting already got bit of an office and it's 3000 sq ft ish 

so think its all I need and  more just need to get some cars lol

thabks for advice again appreciated 

 

"should be " 

used to indicate what is probable !

 

take legal advice mate, before you sign for 3 years 

[Stephen 21]

They are easy in easy out 3 months notice had my agent talk to them

think this is because there's a few empty and they need a bit paint n tidy up aswell even mentioned 3 months free so will wait and see just need to confirm can retail from unit can definitely trade. Other on site are retailing but also supply trade so will wait and see

thanks for help

[Stephen 21]

thanks for help I will ask, still thinking I might start at home with 2/3 just to amek sure I can get the right cars etc. Rtahter than commit to a unit gas elec etc. Ideally I want to do it from unit straight away but suppose my mistakes are cheaper at home 

[justina3 518]

quality not quantity  would be my tip of the day as three cars turn up from the auctions that are giving me the shakes already 

[Stephen 21]

Yeah that's the plan wish I knew what a quality one was compared to a money pit lol