have a word with the wife 299 Posted October 11, 2018 (edited) there's another recession coming Edited October 11, 2018 by have a word with the wife Share this post Link to post Share on other sites
It's me 615 Posted October 11, 2018 thanks just been on ebay and bought a new tin hat wifes not happy ive bought a 1000 tins of baked beans mind for the cellar Share this post Link to post Share on other sites
Pete CWC 4 Posted October 11, 2018 And a gas mask..? Share this post Link to post Share on other sites
Mikey360 68 Posted October 11, 2018 How bad was it for used car sales businesses in 2008? Share this post Link to post Share on other sites
EPV 631 Posted October 11, 2018 13 minutes ago, Mikey360 said: How bad was it for used car sales businesses in 2008? I reckon if you knew what you were doing it was fine. I changed jobs three times between 2008 and 2011 (voluntarily) and I used to work in construction! Doom and gloom here but in another thread we have someone close to beating his own monthly record and last month AD had his third best month ever. Share this post Link to post Share on other sites
MrC 142 Posted October 11, 2018 22 minutes ago, Mikey360 said: How bad was it for used car sales businesses in 2008? Ruined me, lost a few of my suppliers. Scrappage scheme took the bottom out of the shitters 1 Share this post Link to post Share on other sites
Mojo121 229 Posted October 11, 2018 2 hours ago, have a word with the wife said: there's another recession coming According to? Share this post Link to post Share on other sites
whitestone679231 113 Posted October 12, 2018 Talk it up don’t talk it down..:: Share this post Link to post Share on other sites
Mojo121 229 Posted October 12, 2018 8 hours ago, tradex said: Your nearest vendor of new cars, unless Dacia Bring on the recession - let the cheapies fly! Share this post Link to post Share on other sites
justina3 518 Posted October 12, 2018 Been through two of them, yes its tough yes its hard, what i learned from them was keep your overheads as low as you can, those to hit the walls first are the ones with brand new cars on drip her indoors has a car on drip and so on. Share this post Link to post Share on other sites
Ocsltd 133 Posted October 12, 2018 1 minute ago, justina3 said: Been through two of them, yes its tough yes its hard, what i learned from them was keep your overheads as low as you can, those to hit the walls first are the ones with brand new cars on drip her indoors has a car on drip and so on. Like. Share this post Link to post Share on other sites
trade vet 704 Posted October 12, 2018 There is always a recession coming.We have been through all sorts of stuff but I won’t bore you. The bottom line is that transport is a priority for people.I seem to remember in 08 that book prices in heavier or “aspirational” stuff ( thank you EPV) took a dive.We took hits on some stock then within a few months prices recovered.However it may have been a different story for those carrying a lot of debt when lenders called it in. Share this post Link to post Share on other sites
Mikey360 68 Posted October 12, 2018 A recession and brexit.... Woohoo! Share this post Link to post Share on other sites
Nick M.K. 574 Posted October 12, 2018 A recession can hit the new market hard and will be beneficial for the used car market, as long as you know what you are doing. People need their cars and when they can't buy new (if the banks don't play the PCP ball) they'll come straight to us. Be optimistic people!!! The new Klondike years are coming. 1 Share this post Link to post Share on other sites
justina3 518 Posted October 12, 2018 4 minutes ago, Nick M.K. said: The new Klondike years are coming. next tuesday cant wait 1 Share this post Link to post Share on other sites
Nick M.K. 574 Posted October 12, 2018 4 minutes ago, justina3 said: next tuesday cant wait Well, soon enough but I wasn't THAT specific Share this post Link to post Share on other sites
have a word with the wife 299 Posted October 12, 2018 highly recommend https://www.bbc.co.uk/iplayer/episode/b0bmbhzb/the-bank-that-almost-broke-britain rbs Share this post Link to post Share on other sites
metcars 397 Posted October 12, 2018 1 hour ago, Nick M.K. said: A recession can hit the new market hard and will be beneficial for the used car market, as long as you know what you are doing. People need their cars and when they can't buy new (if the banks don't play the PCP ball) they'll come straight to us. Be optimistic people!!! The new Klondike years are coming. As long as the punters keep their jobs? Punters on JSA dont buy fancy motors? 3 hours ago, Mojo121 said: Bring on the recession - let the cheapies fly! Until the big boys start buying cheap and the prices go silly again! Share this post Link to post Share on other sites
sparky 274 Posted October 12, 2018 2 hours ago, trade vet said: There is always a recession coming.We have been through all sorts of stuff but I won’t bore you. The bottom line is that transport is a priority for people.I seem to remember in 08 that book prices in heavier or “aspirational” stuff ( thank you EPV) took a dive.We took hits on some stock then within a few months prices recovered.However it may have been a different story for those carrying a lot of debt when lenders called it in. That's my recollection as well. There may have been, but I can't recall the likes of Partner Finance and NextGear being so popular back then. Three in my patch over the last two years have 'lived the dream' with such funding and are now living life in non league. Can't say I've lost a moment's sleep over any of them. Share this post Link to post Share on other sites
Arfur Dealy 823 Posted October 12, 2018 Stocking loans are fine, as long as you accept you are their bitch, it isn't your stock, you are working to pay on their terms. They can end your business at anytime, you aren't in control of your own destiny.... It might be flattering but you are working for them. 2008 was only 10 years ago..... Share this post Link to post Share on other sites
It's me 615 Posted October 12, 2018 nobody seems to have access to cash anymore this is the problem if she blows you can have a pitch full of anything but if they aint got the cash and the credit taps is off then its the old manage with what you have till its repossessed 1 Share this post Link to post Share on other sites
trade vet 704 Posted October 12, 2018 58 minutes ago, have a word with the wife said: highly recommend https://www.bbc.co.uk/iplayer/episode/b0bmbhzb/the-bank-that-almost-broke-britain rbs It was also HBOS and a lot more.If you are interested read The Big Short it explains what went on,where it started.Banks everywhere were buying,selling and generating packages of sub prime mortgages dressed up as prime which were then insured against default.When they all defaulted the insurers couldn’t pay and no one went to jail.The movie was OK but you need to read the book. Share this post Link to post Share on other sites
grant8064 219 Posted October 12, 2018 2 minutes ago, trade vet said: It was also HBOS and a lot more.If you are interested read The Big Short it explains what went on,where it started. The film versions pretty enjoyable too. DW Docs on YT have a good 45 mon thing on Lehmann...who would have thought that economy based cinema would become such a big thing eh :/ Share this post Link to post Share on other sites
BHM 994 Posted October 12, 2018 56 minutes ago, sparky said: There may have been, but I can't recall the likes of Partner Finance and NextGear being so popular back then. Three in my patch over the last two years have 'lived the dream' with such funding and are now living life in non league. Can't say I've lost a moment's sleep over any of them. There are plenty in this game pretending to be the big man & are up to their necks in it. Some of these financial nutters seem to like working for everyone else but themselves & the need to shift metal has resulted in some poor margins on the mid range stock. Tbh if hard times close a few unsustainable businesses run by Champagne Charlies, as someone who believes in living within one’s means, I for one couldn’t give a hoot. 1 Share this post Link to post Share on other sites
stockedup! 63 Posted October 13, 2018 If your business is dependent on selling cars on finance then that could be a big worry, also if you have significant borrowings the banks can just call them in...….bastards!! The overheads never have a bad week, keep your costs down! 2 Share this post Link to post Share on other sites
