Finance

[Mark101 536]

Can someone please send me the details of the young lady on here whom seems very efficient in Finance setup/FCA.  I did take a screenshot of her post but cannot find it now.

I am now ready to register and start offering finance (other than Zuto) now we have premises, VAT no. etc.

Tried searching but..........

[Nick M.K. 574]

Natalie Draper from Blue Motor Finance. Send her a personal message with your details and she will forward them to your area rep. 

Edited September 15, 2018 by Nick M.K.

[Mark101 536]

That's the one - top man Nick

 

[EPV 631]

Blue have been utterly useless in my experience. 

Twice I have rang their head office, twice they have taken my details, twice they have indicated I would get a call from an account manager to set up an appointment, nothing has happened both times. Useless. Others will of course speak of their own experience. 

Close Brothers have been brilliant in my experience. 

[NOACROSS 414]

Weird as I rate them as high as Motonovo, but I guess that is when you are set up with them.

I think Natalie is off at the mo, or was when I rang her/emailed the other day.  She's very efficient.

[EPV 631]

Her colleagues are most definitely not! 

[Nick M.K. 574]

I am happy with my rep, just emailed you his details, not sure if he covers both our areas though.  

[EPV 631]

Thanks Nick, have just replied. 

[justina3 518]

Close brothers set me up within a few days no hassle very helpful indeee, seems to be different from area to area. 

[Tadams 29]

Why offer finance "apart from Zuto" ?

[Mark101 536]

7 minutes ago, Tadams said:

Why offer finance "apart from Zuto" ?

Zuto use AT's FCA licence (I believe).  I.e: I don't make the introduction and therefore earn NO commission from the sale.

I also cannot publicise finance figures on my website.

[Tadams 29]

Just now, Mark101 said:

Zuto use AT's FCA licence (I believe).  I.e: I don't make the introduction and therefore earn NO commission from the sale.

I also cannot publicise finance figures on my website.

They do all our finance and they have their own licence  like i say we prop all our customers to them, sub prime deals we are yet to be offered a better commission package and with the prime stuff that falls out of our normal go to prime lender they are quite competitive (about £350) on a £8000 car. 

They also have us on their stock search so we get pre approved customers back from them too FOC.

Certainly not saying they are great at everything but ease of process works for us with a decent lending panel (x18) we only have to send our customer there and they do the work. 

[Nick M.K. 574]

4 hours ago, Mark101 said:

Zuto use AT's FCA licence

Can you imagine if this was true :-) One of the largest brokers in the country operating without their own license. They have one of course...

[David Horgan 564]

4 hours ago, Tadams said:

Why offer finance "apart from Zuto" ?

Because there is far better commission deals to be had by NOT using them .

Never heard of Zuto offering Commission myself , but if they offered me £350 on 8k I'd tell them to shove it where the sun doesn't shine .

Close , Blue , Moto Novo eg  are so much quicker with decisions too , Sub prime worries me as they cant get prime how are they going to look after their car .

Just my view .

 

[Tadams 29]

4 minutes ago, David Horgan said:

Because there is far better commission deals to be had by NOT using them .

Never heard of Zuto offering Commission myself , but if they offered me £350 on 8k I'd tell them to shove it where the sun doesn't shine .

Close , Blue , Moto Novo eg  are so much quicker with decisions too , Sub prime worries me as they cant get prime how are they going to look after their car .

Just my view .

 

We get a response back in a matter of minutes most the time. You probably rite and can get more comms elsewhere but as above ease of process and having all our lenders in one place and access to be on their stock search is enough for us  

[Nick M.K. 574]

I am with Mr Horgan on this. Deal directly with two three decent lenders, better for the dealer, for the customer and certainly for the bottom line. 

[NOACROSS 414]

I agree, but it if punters come to me with their own finance in place, then so be it. 

I like the idea of Zuto listing your stock and putting the customer with a motor. I’ll take a few of those a year anytime. (24/7give is the odd customer from time to time)

[Nick M.K. 574]

3 minutes ago, NOACROSS said:

I agree, but it if punters come to me with their own finance in place, then so be it. 

Every car that you have in stock is there to bring you profit. If your finance company will pay £800 commission on a £12K car why give that away to a punter with "own finance". Just switch the own finance punter to YOUR finance. You'll probably save them money in the process and you'll only be doing 10 more minutes of additional work.

This is the reason the likes of Big Motoring World have a huge admin fee (£400ish) for "own finance" customers

[NOACROSS 414]

Ha. Yes. I certainly try Nick. Don’t get me wrong. Doesn’t always work but you’re absolutely right. 

[Tadams 29]

17 hours ago, Nick M.K. said:

Every car that you have in stock is there to bring you profit. If your finance company will pay £800 commission on a £12K car why give that away to a punter with "own finance". Just switch the own finance punter to YOUR finance. You'll probably save them money in the process and you'll only be doing 10 more minutes of additional work.

This is the reason the likes of Big Motoring World have a huge admin fee (£400ish) for "own finance" customers

Yep completely agree and we have done this with a couple (usually 24/7 in Zuto) haha

We did a few Zuto customers into our individual lenders but we were told that if its picked up that a lot of customers are being sent to us and then they ending up canceling with Zuto and taking ours because we have placed them instead then we come off the stock search.. i kind of understand that they pay for the marketing to get the customer through their door so they can't just be giving them away to dealers to place. 

So we have to look at the bigger picture.. a few small wins now and that's it or regular customers going forward and we choose the latter...not to say a few don't slip through the net though     

[Mark101 536]

On 15/09/2018 at 1:35 PM, justina3 said:

Close brothers set me up within a few days no hassle very helpful indeee, seems to be different from area to area. 

When you say set you up; do you mean from scratch (I.e FCA app) or just set you up as a partner (I.e you already had an FCA)?

I’m only asking because CB rep is coming to me at 9.30 today (and I don’t have FCA, which they said they can help with).

Thanks

Edited September 19, 2018 by Mark101

[justina3 518]

2 hours ago, Mark101 said:

When you say set you up; do you mean from scratch (I.e FCA app) or just set you up as a partner (I.e you already had an FCA)?

I’m only asking because CB rep is coming to me at 9.30 today (and I don’t have FCA, which they said they can help with).

Thanks

Done the on line registration with me there and then for FCA app, which has now come back he is coming back next week to run through all the other stuff, there was a lot of stupid questions i wouldnt have been able to answer so i was chuffed for the help. 

 

[Mark101 536]

1 hour ago, justina3 said:

Done the on line registration with me there and then for FCA app, which has now come back he is coming back next week to run through all the other stuff, there was a lot of stupid questions i wouldnt have been able to answer so i was chuffed for the help. 

 

They've just left, going to do some background checks and coming next week to run through the FCA online with me and talk me through their Online system.

Cheers Justin.

[EPV 631]

5 minutes ago, Mark101 said:

They've just left, going to do some background checks and coming next week to run through the FCA online with me and talk me through their Online system.

Cheers Justin.

CB's were excellent in this regard, you know I went very quickly from zero to hero so it can be done and I have found CB's to be excellent, quick commission payout etc. Can't fault them.

 

[Mark101 536]

5 hours ago, EPV said:

CB's were excellent in this regard, you know I went very quickly from zero to hero so it can be done and I have found CB's to be excellent, quick commission payout etc. Can't fault them.

 

Fingers crossed mate - a bit of extra bunce would be just the ticket.  Write a couple of comms deals and my unit rent is covered.