Prices at the block

[BHM 994]

22 minutes ago, tradex said:

Miles always sells...always has, always will and with it goes less grief. 

Whenever I’ve came across a very very low mileage car (admittedly rarely & at today’s prices, never) I’ve found them to be unserviced, drive like a sack of shit & clearly uncared for - usually with a Hyundai badge on the front, I think the punters were greedy (who’d of thought that!!)

The only decent low milers I ever did were them horrible CityRovers. Don’t laugh but they got so cheap at the block, no one in the trade wanted them but the punters loved them (and they were nice pleasant punters too) - I don’t think I ever had one in stock for more than a week.

[trade vet 702]

7 hours ago, BHM said:

Whenever I’ve came across a very very low mileage car (admittedly rarely & at today’s prices, never) I’ve found them to be unserviced, drive like a sack of shit & clearly uncared for - usually with a Hyundai badge on the front, I think the punters were greedy (who’d of thought that!!)

The only decent low milers I ever did were them horrible CityRovers. Don’t laugh but they got so cheap at the block, no one in the trade wanted them but the punters loved them (and they were nice pleasant punters too) - I don’t think I ever had one in stock for more than a week.

They don’t  sound horrible to me,good sellers and good punters,that is what the job is all about.I am now annoyed,I didn’t bother with City Rovers......Sold loads of Ladas though,good profit makers !

[justina3 518]

I agree stupidly low mileage cars always come with a bag full of grief, brakes gear box ect i also find people go crazy for them but never seem to get the top money the other end

[andymc1973 199]

watched a white 12 plate KA make 3650 plus the bit, grand into book, its on his pitch at 4199

[trade vet 702]

15 minutes ago, andymc1973 said:

watched a white 12 plate KA make 3650 plus the bit, grand into book, its on his pitch at 4199

Give us a clue Andy,pitch initials ,general location etc ,it does not make any sense .....you don’t have to if you don’t want to,just being nosey !

[Dealer 54]

43 minutes ago, andymc1973 said:

watched a white 12 plate KA make 3650 plus the bit, grand into book, its on his pitch at 4199

What an absolute tool! There's no way I'd consider selling for that much profit. 

[andymc1973 199]

Car supermarket in Durham 

It’s a 60 plate my mistake 

[BHM 994]

So he’ll have about £3900 in it assuming there are no repairs or prep costs  

I work for that if I’ve had a car in stock 3 or 4 months but if that’s the sort of margin some think they can work for then it’s no wonder I buy very little from the block.

[trade vet 702]

9 hours ago, andymc1973 said:

Car supermarket in Durham 

It’s a 60 plate my mistake 

Yes,found it.Mrs Choudhary.’s Autopark.....Good Luck to her

[ik1980 11]

They must get decent commission from finance, or maybe they have a stocking loan of some sort?

[Ocsltd 133]

18 hours ago, andymc1973 said:

watched a white 12 plate KA make 3650 plus the bit, grand into book, its on his pitch at 4199

R.I.D.I.C.U.L.O.U.S.

[andymc1973 199]

pretty sure its pay nothing for 60 days on the stocking loan

[BHM 994]

Eh? I guess there’ll also be some interest to pay out of the £300 mark-up. Why the f*** are traders working on them sort of margins? 

[grant8064 219]

2 hours ago, BHM said:

Eh? I guess there’ll also be some interest to pay out of the £300 mark-up. Why the f*** are traders working on them sort of margins? 

Big companies need stock.

Big rent and rates, staff bills, high utilities, debt to service, massive advert costs.

Can't service all that with no stock. It's why, IMO, many of these places pop up, trade for a few years and go pop because the business model is like walking a tightrope. 

Never understood the appeal of a massive forecourt/supermarket with no margins personally, I just see it as a vanity thing. Much rather have half the stock with twice the carefully bought margin in it. 

[trade vet 702]

4 hours ago, ik1980 said:

They must get decent commission from finance, or maybe they have a stocking loan of some sort?

Alternatively,the buyer may be a little deaf and thought he was paying £2650,we all make mistakes.More than once,I have been distracted in the ring and bought the wrong car !

[Stephen 21]

He’s also got a repair garage and part ex place, sure it’s not first time they’ve over paid for stock, sure it’s pretty common with him

[Tom 164]

Basic studio spec good luck with that one! 

[Lakeside 94]

So what’s March like for everybody at the block? The prices dropped towards the end of feb around here but the last couple of weeks they’ve shot back through the roof. Like Jan all over again.

[Earunder 69]

90% of everything I've seen has made over CAP Clean + fees + delivery.

I've managed to pick a few pieces here and there (12 this week, still in need of 20+ more though)  It's interesting to see so much go for so high, something isn't right as it hadn't gone like this and stayed like it for a 3rd month running without the book prices shooting up, which they haven't.  My only assumption (OR conspiracy if you will) is there is just simply a shortage of decent stock.  I'm sure it's not down to the new people, or the smaller dealer desperate for stock as that doesn't explain the consistency for 3 months.  The auctioneers are running a lot of the cars more, and shooting the prices up quicker and I've seen many a dealer over the last few months fall into the trap and make a last bid when you can tell by the auctioneers voice he couldn't believe he got a bid out of it.  They tend to be joking about this a lot over the mics too, quick frustrating.  If it were just the one AH I'd be moaning like a school girl about it but it is literally both big ones.

Luckily we have enough in stock to last another month but it is going down as we can't replace it all.  If you can hold off do so, as always the market will come down and you don't want to be stuck with over priced stuff you can't move on.

[trade vet 702]

I would say forget CAP,it is way out.Prices will continue to rise for desirable stock.It is not just cars,most things are rising in price,even in Primark. It was pointed out the other day that a new poverty model Clio now costs £12500 and a poverty model Focus £20000 !.Last autumn,I thought most stock was cheaper in value than at any time that I could remember.Last week I was watching some heavy late stuff with highish miles  going through Brum or somewhere.They were very cheap considering the current new price but were making over Cap clean which made no sense.So  decent 10 year old Fiestas doing £2000 is probably about right ?.......anyone disagree.

[andymc1973 199]

lots of stockiing loans and cheap money people  who will get the rug pulled soon

[trade vet 702]

10 minutes ago, tradex said:

They are part of Pendragon nowadays I believe?

.....a lot of main agents (and OE's) are hurting. A few of them give this type of thing a go, and then when it goes tits up and the ruckers come a'barking they will give it up, seen it before.

I was really surprised at just how dreadful the cars were prepp'ed (well, they simply weren't) and had to remind the DP it's illegal to offer for sale, or expose for sale an unroadworthy vehicle, which fell on deaf ears judging by the dribbling and shoulder shrugs. We wouldn't sell a grands worth of p/x with such shoddy prep' and nor would the members here I feel.

PS Autoquake doesn't ring a bell?

Sort of reminded me of the old London Trade Centre Shepards Bush, "here it is, so what it's shagged, buy it or f*ck off"

I was speaking to a trader whose son works for Evans Halshaw.He said they just do deals, move metal and don’t like to let people walk and it seems to work.Apparently the good deals more than make up for the bad ones,Pendragon are doing well and they plan to open more used outlets.They get away with a lot,I would imagine local council Trading Standards are not going to take them on,Pendragon PLC will have their own legal dept.

As for Autoquake,they were not car dealers,just ex  college kids with good business degrees .They were able to raise millions from private equity to flog ex lease stuff on line without doing swappers and chucky.I think they lasted 2 years,so did Tesco with a similar idea.

The Trade Centre now called Car Giant,it is still owned by the same people and I don’t think we can criticise them,it is the biggest pitch in the world,doing 40000 a year !

[justlooking 48]

1 hour ago, twerp said:

Sad when such an old brand tries to do an 'AutoQuake'

Remember them?

and they'll be pulling their stock direct from their 'valuation tool' website:

http://www.evanshalshaw.com/sell-your-car/valuation/

 

[grant8064 219]

We've done really well this month.

Usually buy five a week from auction but recently haven't got a sausage because we don't give blood (I prefer it in my veins).

Got two Monday, eleven Wednesday and three privately this week. Seems everyone that went bonkers in Jan/Feb and then had their VAT bill has got their fingers burnt and we cleaned up on some nice, honest stock. Certainly makes a change!

[andymc1973 199]

just back from Manheim Washington, 54 plate clio 182 in silver 2 owners 25k but will need the belts doing to retail as due, £4100 plus the bit out