newbie

[wow really 0]

Thanks all for response. Again the honesty from you all is what mattered. However on one website alone not sure if allowed to say NAME but starts with A... there are currently 3689 cars between 500 and 1000 within only 40 miles of our location. And this is traders only not private sales. So Defoe a market.

Anyway we are moving forward from tomorrow and have solicitors meeting Wed and to go over all legalities that some have highlighted. Again this business is about honesty and not ripping people off so customers will know exactly what they are buying from us when we start selling. And to be honest the money we will be investing would only be spent by the wife if not!!!! Remember everyone on this site who sells cars are there to make a profit and offer a good valuable service Hopefully.

I'll keep people updated as things progress and if anyone wants to come over and have a look then more than welcome when all set up. 

Again thanks again. Defo be on here not just post and leave.

Cheers 

[EPV 631]

Plenty of cars. How many of them sold? Oh wait not they’re for sale, not sold. For all you know 3,500 of them could have been on sale for 60 days. I’ll repeat this again and then wish you luck as you seem hell bent on doing this; You will not turn half your forecourt in a week. All the best. 

[Nick M.K. 574]

1 hour ago, wow really said:

So Defoe a market.

Defoe is definitely? I've heard my 13 year old use this...

Defoe a supply doesn't equal Defoe a demand. You want to sell cars that the demand exceeds the supply for. Someone else above mentioned a Ferrari 458 Speciale which is one example but to keep things in the real world I'd suggest small petrol automatics up to £1500. You won't sell those in a week. They go on the same day IF GOOD.

[Dave2302 387]

3 minutes ago, Nick M.K. said:

I'd suggest small petrol automatics up to £1500

Any small auto Car that retails at £1500 would need to be bought for < £400 to retail at £1.5k, and that will = shagged car

Trouble with that is the billy will be back at your door when the Auto Box or Engine shits it's pantaloons

To me anything in that bracket has got to be sold on SOR Invoice with no exceptions, and the Invoice needs to be well worded and Billy sign his life away !!

This stuff is just trouble with a T

[Nick M.K. 574]

Just now, Dave2302 said:

Any small auto Car that retails at £1500 would need to be bought for < £400 to retail at £1.5k

Yes, hence a huge gap in the market. 

 

[Dave2302 387]

1 minute ago, Nick M.K. said:

Yes, hence a huge gap in the market. 

 

There's a gap for a reason

The punters who buy these cheapies are nowt but aggro potless tits, you end up needing a bouncer on your door 

I wish him all the luck in the world, and keep us posted how it's going.

If it goes well, and OP needs to buy stock Cars, sort out a Transporter deal, I can supply hundreds of the bloody things from round here for a few sheckles a pop, in fact better than that, I'd rather not get involved, I'll just pass on OP's number to whoever is wanting to sell   

[Tim H 16]

 

2 minutes ago, Dave2302 said:

SOR Invoice

For clarification, That means Spares Or Repairs.... Not Sale Or Return!!!.....right Dave ?

 

[Dave2302 387]

Yes

[NOACROSS 414]

Even with the best Trade Sale/SOR invoice, you will often not get away with it- especially if this is a sales policy. 

As we all know (but not yet the OP) this sort of low-price customer base is going to scream and boomerang and slate you -no matter how much you point out to them the agreed terms, and take up inordinate amount of your time for a small or I predict, no real reward or profit  

The cheaper the car, the more demanding the punter will be as it’s often ‘All Their Money’. Just the thought of the ‘best price mate’, texters, midnight on a Saturday emailers is enough to make me wince. It’s bad enough just selling the odd decently prepared PX!

Also, this business model of the OP’s is going to be a monumental headache, and the phrase ‘busy fool’ comes to mind. Just finding the junk, MOT’s, doing safety prep at least- not to mention dealing with the (I fear) deluded forecasted number of sales (let alone enquires) would be very time-consuming. 

Where are you going to advertise all these gems by the way? Autoraper?

You’ll be much better off taking heed and starting smaller with better quality cars or quality control/prep and welding on a workable margin. 

Honestly the best of luck though  keep us posted!

 

[David Ayers 171]

What are your projected costs for wages and advertising?

These will be your biggest expenses if you are not planning on doing much prep.

To sell that many cars a month how many staff do you think you will need? I’d guess minimum of 6. 3 salesman, 2 dogsbodies to do logistics/cleaning etc and 1 for admin. Assuming you and you partner handle the buying. £10k a month for wages.

60 cars on that website beginning with A. Probably £4K a month 

These are just some of the costs. Obviously there is Vat, insurance.

The other issue is you are going to miss out on finance commissions with that stock profile.

Oh by the way. That “ Sale of goods act 2015” you mentioned. You might want to look at that again. I think you need to read it a bit more thoroughly.

 

[Dave2302 387]

Absolutely agree, but I think the biggest expenditure will be refunds 

[DBDlloyds 18]

Hi Wow,

First of all I would like to welcome you to this forum. It is invaluable to any new starter. All I will say is please listen to the guys above, they may seem harsh but there feedback is born form experience.

I am relatively new to this business and had a very similar idea to you but on a much, much smaller scale. The truth of the matter is you can make money from cheapies but it is very time consuming to get cars you have purchased for £400 to a position that they are ready for retail. In 15 months I have only had one car in this price range that I have been able to retail without a lot of prep and time. I do still sell cars at the lower end of the market and make some money but it is definitely not a business model you could ever do on the scale you are talking about. Spend a bit more, prep well and make a higher margin per sale. To be fair this is just basic business sense... don’t be a busy fool. In order to make a decent living you would have to sell cars that are not fit for retail and this is a recipe for disaster.

regards Dean.

[MattR 177]

get planning permission for your site for 15-20 houses. Sell the land.

[Row 71]

23 hours ago, David Ayers said:

What are your projected costs for wages and advertising?

These will be your biggest expenses if you are not planning on doing much prep.

To sell that many cars a month how many staff do you think you will need? I’d guess minimum of 6. 3 salesman, 2 dogsbodies to do logistics/cleaning etc and 1 for admin. Assuming you and you partner handle the buying. £10k a month for wages.

60 cars on that website beginning with A. Probably £4K a month 

These are just some of the costs. Obviously there is Vat, insurance.

The other issue is you are going to miss out on finance commissions with that stock profile.

Oh by the way. That “ Sale of goods act 2015” you mentioned. You might want to look at that again. I think you need to read it a bit more thoroughly.

 

Plus a full time grief manager.

[sparky 274]

On 11/18/2018 at 2:21 PM, Dave2302 said:

And then they get Shot / Stabbed / Disappear into a M/Way Bridge Pillar

Every cloud....

[sparky 274]

1 hour ago, tradex said:

Or as my old man would say, in a proper southern red neck drawl ya all, "sheet attracts sheet"....not sure if that appears in conversation across the pond?

 

[whitestone679231 113]

This guy has been watching too much telly,,, do wheeler dealers or wotever its called ever pay vat or any labour costs??

[Mikey360 68]

I feel dirty selling stuff around the 2.5K mark, let alone anything under that!

Seeing all the UKCGR trade stuff go through at £400 a pop was painful, you know they're either being taken to a brokers yard OR getting a no advisory MOT being done by their family down the road. I always hope that I spot one of them on rogue traders one day!