sparky 274 Posted January 22, 2015 I've never had a stocking plan before, I've always used my own money and the bank, but I've just signed up with Next Gear and BCA. My main reason for doing this, if I'm using my own money I want a certain margin in the car, If I can't mark it up by X then I don't bother. As we all know buying the right stock at the right price is never easy and seems to be getting harder but that doesn't mean there is not a butty to be made if it's for a car you have total confidence in that will fly out. So say for example car A is worth £4500 on the pitch, with my own money I don't want it owing me any more than £3200 (I'd rather wait for something else to come along), but if I'm using someone else's money, maybe I could stand it owing me £3300-£3500. OK, it's not making a fortune but there is a profit it in it all the same and a profit that I would never have had using my own money. If they are only used once a month they have more than paid for themselves. These cards seem to be being pushed quite strongly and talking to those involved it's not just the minnows like me who are taking them out. Anybody else got one of these auction credit cards or got any thoughts on them? 2 Share this post Link to post Share on other sites
Philip Nothard 26 Posted January 22, 2015 Interesting, is this an element to support the reason that two thirds of the network are reporting a 'squeeze' on margins this month? As retail competitiveness increases? Share this post Link to post Share on other sites
sparky 274 Posted January 22, 2015 Interesting, is this an element to support the reason that two thirds of the network are reporting a 'squeeze' on margins this month? As retail competitiveness increases? That would be my guess. Speaking to a couple of auction houses these cards seem to be be more and more popular. Share this post Link to post Share on other sites
Gavin@Rousdon 137 Posted January 22, 2015 I use BCA Partner Finance and its has proved profitable over the last few months. It's helped my buy stock at the right price when prices seemed to drop in December. At 10% Flat rate it's not cheap but if you run the scheme with common sense it pays dividends. 1 Share this post Link to post Share on other sites
James Baggott 227 Posted January 23, 2015 Interesting stuff chaps Share this post Link to post Share on other sites
Tom 164 Posted January 24, 2015 We use BCA partner finance as its very useful, like you say make profit you wouldn't of been able to do before. Remember you can sell another car to pay off the financed car early rather than waiting for it to sell this is what we do if it's taking a while to move. We try to only use it on cars we know sell well and with bigger margins rather than run of the mill cars with smaller margins. Share this post Link to post Share on other sites
DanNextGear 4 Posted February 21, 2015 Hi Guys, I work for NextGear, I'm not here to sell the product to any of you (I just want to see how the market is getting on from dealers all around the UK, not just my area).. Stocking plans in general are a great idea if you run it with common sense, as someone mentioned above. It is a great way for additional stock to be added to your forecourt, yes it costs money.. But if you can add 10 vehicles to your site at a £1000 cost, and you make x £££s more, then it's worth it. I would consider how you would use a plan before deciding on who to choose, some companies tie you down to retail finance, some tie you down to certain auction houses, some only lend a % of trade value etc.. In my opinion (biased slightly) - a none contract/tie in product to dip in and out of as and when you need it is the best option.. If anyone does have any questions, give me a shout and I'll be happy to help if I can, even if it's just about stocking in general. Dan Share this post Link to post Share on other sites
James Baggott 227 Posted February 22, 2015 Woah careful there Dan that was awfully close to product selling which we really do not allow on this forum. But thanks for keeping it light and open ended. We'd appreciate it that if anyone does want to talk specifics with you they take that conversation to direct message. We love connecting suppliers with dealers but this forum is about debate and as such we don't like to see products or services directly sold here. Thanks for joining the forum and welcome Share this post Link to post Share on other sites
DanNextGear 4 Posted February 22, 2015 Hey, no problem sorry about that .. Wasnt trying to push our product over anyone else's. Each product can work differently for different businesses and can also make a difference on where you source stock.. Feel free to remove anything from my original post that may be too close to the mark ? Dan Share this post Link to post Share on other sites
Andy Entwistle 96 Posted February 23, 2015 For want of not repeating a post i've just put on another thread We're just putting the final touches to this years Car Dealer conference and expo at Silverstone on 9th June. You will be able to speak to a lot of teh big finance players on the day, in one place. Its a great opportunity to find the best solution for you.. More information here and tickets are free ! Share this post Link to post Share on other sites
James Baggott 227 Posted February 25, 2015 Dan - no worries. I would have done if it was too close to the mark. Just wanted to mention it. Thanks for joining the forum Share this post Link to post Share on other sites
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