Is there any place to get some food around here?

[Lucas 9]

Yes. All depends on our own situation.

 

One punter called me today at 6pm, said he is coming from central London, will be arrived in 1 hour blala..blala. He beg me to wait for him one and half hour. He said he really needs to buy the Focus! I said okay, I will wait, I promise him I won't leave without seeing him. So, I keep my promise, I am still here waiting for him.

It's good to be home based! Drinking my wine at the moment and waiting for him forever.

 

Edited February 15, 2019 by Lucas

[trade vet 697]

48 minutes ago, NOACROSS said:

I was just speaking to an old (82 year old) motor trader in the pub. 

He often likes to hear stories of today’s goings on. 

I mentioned the above one the general amount and standards of nutters. 

Also the length of time that things are in stock for. 

He reminded me of the old days when you’d think a car was a ‘bottler’ if you had it more than a week. 

He started talking about messers. I pointed out that they are considered model customers today. 

It was hard to explain it all to him. The struggle buying, selling, CRA. etc. Just made him cross. 

The flash 50s and 60s car dealers that I can recall when I was about 15 would be in a constant rage these days.I was reading Bernie Ecclestone’s biography and it recalled when he was a car dealer and when he decided to pack it in because it was not worth the bother any more,no money in it.That was 1973,the introduction of VAT was the last straw for him !

[NOACROSS 414]

Just now, trade vet said:

The flash 50s and 60s car dealers that I can recall when I was about 15 would be in a constant rage these days.I was reading Bernie Ecclestone’s biography and it recalled when he was a car dealer and when he decided to pack it in because it was not worth the bother any more,no money in it.That was 1973,the introduction of VAT was the last straw for him !

Ha, yeah. VAT killed the game. It is so much tougher for people in the trade today. Just imagine trying to explain the internet to them.  And computerised mileage verification!

[Arfur Dealy 823]

21 minutes ago, Nick M.K. said:

Because it works for me, because it gives me the maximum return on my investment and because when a decent buyer turns up the satisfaction is much bigger. 

The warts-n-all videos and “sorry, no deposit, no car” model isn’t for me. Never was, never will be. 

It doesn't though.... having your time wasted by these morons utterly stops you from being more productive, its counter productive. It stops you from prepping, photoing, finishing, advertising, perfecting, researching, bidding, the time wasted is totally detrimental to your business, ..... it stops you from doing all the stuff you need to do to earn money, plus it eats into the family time. Qualifying customers properly and asking for a show of commitment calls their bluff, as soon as they then make excuses you know..... Before anyone says, its different for a site clearly.

I know you don't agree Nick, but your waster makes me fucking angry and is why I don't facilitate them. You gain a lot more by valuing your time and not allowing it to be wasted.

[trade vet 697]

30 minutes ago, Arfur Dealy said:

It doesn't though.... having your time wasted by these morons utterly stops you from being more productive, its counter productive. It stops you from prepping, photoing, finishing, advertising, perfecting, researching, bidding, the time wasted is totally detrimental to your business, ..... it stops you from doing all the stuff you need to do to earn money, plus it eats into the family time. Qualifying customers properly and asking for a show of commitment calls their bluff, as soon as they then make excuses you know..... Before anyone says, its different for a site clearly.

I know you don't agree Nick, but your waster makes me fucking angry and is why I don't facilitate them. You gain a lot more by valuing your time and not allowing it to be wasted.

AD I don’t think that you understand that your business model is possibly unique.I think most dealers including me would have liked to emulate what you do but we can’t pull it off.Your videos,presentation and especially the advance deposit message connects with your punters.I can’t recall anyone else being successfull with your policy of insisting on a £200 deposit prior to viewing.

[BHM 994]

2 hours ago, NOACROSS said:

It was hard to explain it all to him. The struggle buying, selling, CRA. etc. Just made him cross. 

It makes me cross, never mind the old boy.

Messing seems to be a national pastime amongst middle aged men nowadays - I even had to chase one away from the door yesterday. I run by appointments but I gave this local cretin his chance 3 months ago when he rolled-up unannounced. He left getting back to me the next day(!!). He called around a fortnight ago but the Mrs told him I was out & to make an appointment but here he is a fortnight later, yet again “just dropping by to have a run out in a couple of your cars”. He honestly looked surprised & offended when I chased him away telling him not to bother calling again. These fuckers think we’ve nowt else better to do than lay on free entertainment when they’ve got a spare half hour.

[Arfur Dealy 823]

8 hours ago, trade vet said:

AD I don’t think that you understand that your business model is possibly unique.I think most dealers including me would have liked to emulate what you do but we can’t pull it off.Your videos,presentation and especially the advance deposit message connects with your punters.I can’t recall anyone else being successfull with your policy of insisting on a £200 deposit prior to viewing.

Your absolutely right TV  I am unique in how I operate, I instill trust and accuracy and guarantee it.

My deposit is a token £100 and is fully refundable. In every “how to be a salesman” book, blog, tutorial etc you will always be told to ask the customer for a commitment,  that’s all I do is simply ask for commitment, it’s basic sales. The only difference is I do it prior to appointing them and allowing my time to potentially be wasted.

The way I operate ensures both parties know exactly where they stand. 

[Nick M.K. 574]

This model saves a bit of time, true, but there is a cost to it: 

Lower margins

Lower turnover (many potential buyers are put off, not attracted by what they see)

Longer time in stock

Little opportunity to sell them a different car instead of the one they’ve seen

No finance in your case (although there might be a way to work it in).

I prefer to work three hours a month more with a slightly conventional model and get a chance to attract 100% of buyers. 

This month all my sales were with deposit “unseen” £100-£200. Not asked as a committment but offered as an opportunity to reserve the car. Fully refundable if they don’t like it of course. Everyone bought other than this chap that wouldn’t leave a deposit to start with. 

Wasted 10 minutes of my time, would’ve earned a four figure sum if he bought so it would’ve been good return on my directly invested time. 

 

[BHM 994]

AD/Nick, there’s no right or wrong way. It’s whatever suits you & your business. As the old saying goes, One man’s meat is another man’s poison.

[Mark101 536]

I took a £100 dipper yesterday (refundable) on a Qashqai.  Customer and partner are coming in at 10am today to complete finance application.  The £100 to me just ensures they come back, even if it is just for the refund.  Customer wanted the car off sale, so the £100 secures that overnight for her. 

A bit of security for both parties I guess.

[Nick M.K. 574]

7 minutes ago, Mark101 said:

A bit of security for both parties I guess.

Absolutely plus in your buyers' mind they are already starting the process of buying the car. 

When a customer comes in 15 minutes before their appointed time, refuses a cup of coffee and says: Let me look at MY car before we do the paperwork you know there will be no need for the hard sell. 

41 minutes ago, BHM said:

AD/Nick, there’s no right or wrong way.

I agree 99% but in any business there are practices that help, practices that don't and practices that make no difference. Reduce the last two categories, increase the first category, you have a much stronger operation.

[Mark101 536]

14 hours ago, BHM said:

Common sense is old fashioned, just the same as ‘manners’, ‘taking responsibility’ and ‘having the balls to say it’s not for me’ straight to a man’s face.

To be fair to a punter. They have probably been to some pushy main dealer at some stage (or any other retail outlet), where the sales person has been trained, sorry forced to push that person into submission by learning to overcome that objection - it is a horrible 80/90’s sales process and at least for me, a very relaxed matter a fact approach works best.

[Nick M.K. 574]

1 hour ago, Mark101 said:

They have probably been to some pushy main dealer at some stage

I've never in my life been to a main dealer to buy a brand new car and I've been tempted to go once or twice, just to experience it... I simply can't bring myself to waste some poor salesman's time like this though so I'll wait a few years until I finally decide to splash £40K on a new diesel Merc just before they stop taking orders for them. And even then I think I will be one of the easiest customers they'll get to deal with...

EDIT BUTTON IS BACK!!!!

Edited February 16, 2019 by Nick M.K.
Still no LIKE button though :-)

[David Horgan 564]

13 minutes ago, Nick M.K. said:

I've never in my life been to a main dealer to buy a brand new car and I've been tempted to go once or twice, just to experience it... I simply can't bring myself to waste some poor salesman's time like this though so I'll wait a few years until I finally decide to splash £40K on a new diesel Merc just before they stop taking orders for them. And even then I think I will be one of the easiest customers they'll get to deal with...

EDIT BUTTON IS BACK!!!!

Is that cos your Bulgarian Nick . Iv'e had a few from your country buy cars from me .

They seem to know what they want and when they want it . Pay up and become service customers afterwards too , Lovely people .A couple came in last night to book service and MOT for next week , Came over like long lost friends . 

Better send me in for your Merc if your that easy, I will shred him for a deal 

[Nick M.K. 574]

2 minutes ago, David Horgan said:

Better send me in for your Merc if your that easy, I will shred him for a deal 

I'll be easy in the sense that I'll have an exact list of colours, options, wheels etc so they won't need to explain them to me for hours :-) 

I am never an easy spender and I doubt this will change in the next decade (or three)

[Mark101 536]

20 minutes ago, Nick M.K. said:

I've never in my life been to a main dealer to buy a brand new car and I've been tempted to go once or twice, just to experience it... I simply can't bring myself to waste some poor salesman's time like this though so I'll wait a few years until I finally decide to splash £40K on a new diesel Merc just before they stop taking orders for them. And even then I think I will be one of the easiest customers they'll get to deal with...

EDIT BUTTON IS BACK!!!!

A good few years back I came in to some money and whilst I was waiting for a cheque to clear, went to the main dealer having decided I wanted a Range Rover and I wanted to buy my Dad a Discovery (the one I still have now).

The salesman said, "would you like a test drive" to which I replied "I would love a test drive but I am not in a position to complete a sale for a couple of weeks, so I don't want to waste your time.  If you are happy to take me for a spin, then I would be delighted but please understand that I cannot make a decision now."  He agrees and off we toddle.

Upon completion of the test drive, he says "I shall call you tomorrow for some feedback."  I said, "leave it until after lunch because I am in meetings all morning."  He rang me at 9am, 9.30am, 10.00am, 10.30am and finally 11am when I finally answered and gave him the biggest hairdryer treatment anyone has ever received from me.

I went back to the dealer (when cheque had cleared) and demanded a different sales person.  A really nice laid back guy came out and sold me a RR Sport and (my current) Disco.  I have since bought a Vogue, an XKR, an XFS, a Merc Cab - over £250k worth in 12 months.  All because that guy was like me - not pushy.  The original pushy guy earned no comms.

Better still, I went in jeans and a T shirt to Stratstone first of all, who never bothered to call me back, despite my shopping list.  I still to this day want to do the Pretty Woman sketch from Sunset Boulevard (big mistake, huge).

Anyway, this is the dealership where my Mrs works and I met her at the birthday party I was invited to of the salesman who sold me all those cars - nice story. 

[Contracts 68]

5 hours ago, Nick M.K. said:

I've never in my life been to a main dealer to buy a brand new car and I've been tempted to go once or twice, just to experience it... I simply can't bring myself to waste some poor salesman's time like this though so I'll wait a few years until I finally decide to splash £40K on a new diesel Merc just before they stop taking orders for them. And even then I think I will be one of the easiest customers they'll get to deal with...

EDIT BUTTON IS BACK!!!!

We deal with main dealers quite a lot for new cars plus we buy quite a few late used and I am sure they are brainwashed the same way outside of the dedicated fleet departments.

I find there are 3 types:

- Arrogant, you are trade, we don’t have to deal with trade types, we are a main dealer don’t you know!

- No idea how to deal with trade.  No I don’t want a video, I don’t want to make an appointment to view, I don’t need a PCP quote.

- slightly old school, talk you round the car, have a slight deal, job done in 10 minutes.  

[David Horgan 564]

To MARK101 really . Not quite pretty woman but similar 

I remember a main MERC dealer near us , my dad had ordered a C class new merc and wanted me to pop in to make sure the spec was correct .

It was a Sunday morning and i was helping out my brother at the Mushroom Farm he had , I had wellies on and Bleached trousers when I called in the showroom .

This little guy looked at me then put his head down and ignored me  so I pondered about for 10 min till this young girl came in to try her high end suitcases in a SLK boot she had ordered .

This sales guy shot past me like he was on fire to help said model with very short skirt put her cases in the sports car . She was happy they fit and left when he wandered past me and sat down .

So i pulled a chair from another sales desk  and went and sat next to him with folded arms , he looked at me and said need help . 

To which i replied YEP sure do . i no I'm not as good looking as that young girl but I could buy her out 11 times over , so as i no longer LIKE YOU I've popped in to Cancel my dads car . 

OH SORRY Sir , TOO LATE Pal , I re ordered from another Merc Dealer . 

He had watched me get out of a 6 Series BMW 650i I could have been a prospective customer but he didn't like my wellies and my bleach trousers  they closed soon after " wonder why " 

[Mark101 536]

13 minutes ago, David Horgan said:

To MARK101 really . Not quite pretty woman but similar 

I remember a main MERC dealer near us , my dad had ordered a C class new merc and wanted me to pop in to make sure the spec was correct .

It was a Sunday morning and i was helping out my brother at the Mushroom Farm he had , I had wellies on and Bleached trousers when I called in the showroom .

This little guy looked at me then put his head down and ignored me  so I pondered about for 10 min till this young girl came in to try her high end suitcases in a SLK boot she had ordered .

This sales guy shot past me like he was on fire to help said model with very short skirt put her cases in the sports car . She was happy they fit and left when he wandered past me and sat down .

So i pulled a chair from another sales desk  and went and sat next to him with folded arms , he looked at me and said need help . 

To which i replied YEP sure do . i no I'm not as good looking as that young girl but I could buy her out 11 times over , so as i no longer LIKE YOU I've popped in to Cancel my dads car . 

OH SORRY Sir , TOO LATE Pal , I re ordered from another Merc Dealer . 

He had watched me get out of a 6 Series BMW 650i I could have been a prospective customer but he didn't like my wellies and my bleach trousers  they closed soon after " wonder why " 

Brilliant 

[Arfur Dealy 823]

9 hours ago, Nick M.K. said:

This model saves a bit of time, true, but there is a cost to it: 

Lower margins

Lower turnover (many potential buyers are put off, not attracted by what they see)

Longer time in stock

Little opportunity to sell them a different car instead of the one they’ve seen

No finance in your case (although there might be a way to work it in).

I prefer to work three hours a month more with a slightly conventional model and get a chance to attract 100% of buyers. 

This month all my sales were with deposit “unseen” £100-£200. Not asked as a committment but offered as an opportunity to reserve the car. Fully refundable if they don’t like it of course. Everyone bought other than this chap that wouldn’t leave a deposit to start with. 

Wasted 10 minutes of my time, would’ve earned a four figure sum if he bought so it would’ve been good return on my directly invested time. 

 

20 hours ago, Nick M.K. said:

 

Nick.... How can you assume the above when you have never worked the way I do, you have no experience using my business model. I have been in the trade considerably longer than you and have spent more time selling cars in various different business models .... You are saying my model attracts lower margins, why do you assume that....? I don't agree. Your profit is made when buying, if I look at your cars on AT the majority are "great price" which means you are pricing low / very competitively. All of mine are "good price" or above, that's because I charge a premium for what I offer, I don't need to compete at the lower end. Also, I know you are happy to discount further off your asking price, and as you know I don't discount at all - the price is the price Mr Customer. 

Lower Turnover ?  Again, why do you assume that ? My turnover hasn't changed, I am working wiser, anyway we all know turnover is vanity.

Longer time in stock ? Again, why are you assuming that ? I'm average just under 60 days, of course we all get sitters and flyers.....  The constant feedback I get form my customers is that they would have never normally travelled so far to buy a car, but because of the way I operate I have instilled them with confidence to buy remotely. This is working wiser, this is increasing my sales.

Yes, you are right I specifically chose to not offer finance because I prefer to deal with people who have the money, the clientele are better. I know the commission is a perk but its not all roses and currently not on my agenda. I don't use a stocking facility with their charges and terms, I don't need a stocking loan so I can sell what I want, not what I'm told to sell for finance......

As BHM says, there is no right or wrong way...its each to their own...... I have had a lifetime of timewasters and now chose not to facilitate them, that's why I've developed my way of doing business. But don't assume I am taking low margins, low turnover, losing customers, putting people off. The facts are, I am doing the complete opposite ( and a timewaster ) free life as a bonus 

[Nick M.K. 574]

34 minutes ago, Arfur Dealy said:

Nick.... How can you assume the above when you have never worked the way I do

Simon, 

I don't assume anything. In used car sales I am as good an analyst as any (maybe not on TV's level but you know what I mean)

We've been forum buddies for years, I've watched your videos, I've studied (sounds creepy but I have) your model, your stock selection, your website, when a car goes on sale, when it goes off and I know where they come from and that they come with auction fees and transport costs etc etc and while it's innovative in a way I see the limitations that it has and have decided that it simply isn't for me. 

My strategy is to make the customer want my car. 

Yours is to filter the possibles down to the confirmed definite and that's fine but means a lot of people simply won't buy. This will certainly mean lower than max possible turnover (of stock not just money) and certainly lower margins. Pre-agreeing a part ex value unseen will also have to lead to a lower margin eventually. You simply can't offer £800 on the phone when all guides, WBAC etc say £2000. 

I envy you for the time waster free life but as John Murphy used to say on the other forum: Sometimes we get paid to have our time wasted :-)

[trade vet 697]

Everyone does their own thing.Not only do I not take deposits,I also refuse them.Works well for me,I have done this for years.I tell them I don’t need one just shake hands and to settle up on collection.I also tell them to give us a call should they change their mind.Up north Punters appreciate that because a lot of dealers want a deposit before they can have a test drive......We have also done 7 day money back guarantees for over 20 years ( some of you must be horrified).....

[David Horgan 564]

47 minutes ago, Arfur Dealy said:

Nick.... How can you assume the above when you have never worked the way I do, you have no experience using my business model. I have been in the trade considerably longer than you and have spent more time selling cars in various different business models .... You are saying my model attracts lower margins, why do you assume that....? I don't agree. Your profit is made when buying, if I look at your cars on AT the majority are "great price" which means you are pricing low / very competitively. All of mine are "good price" or above, that's because I charge a premium for what I offer, I don't need to compete at the lower end. Also, I know you are happy to discount further off your asking price, and as you know I don't discount at all - the price is the price Mr Customer. 

Lower Turnover ?  Again, why do you assume that ? My turnover hasn't changed, I am working wiser, anyway we all know turnover is vanity.

Longer time in stock ? Again, why are you assuming that ? I'm average just under 60 days, of course we all get sitters and flyers.....  The constant feedback I get form my customers is that they would have never normally travelled so far to buy a car, but because of the way I operate I have instilled them with confidence to buy remotely. This is working wiser, this is increasing my sales.

Yes, you are right I specifically chose to not offer finance because I prefer to deal with people who have the money, the clientele are better. I know the commission is a perk but its not all roses and currently not on my agenda. I don't use a stocking facility with their charges and terms, I don't need a stocking loan so I can sell what I want, not what I'm told to sell for finance......

As BHM says, there is no right or wrong way...its each to their own...... I have had a lifetime of timewasters and now chose not to facilitate them, that's why I've developed my way of doing business. But don't assume I am taking low margins, low turnover, losing customers, putting people off. The facts are, I am doing the complete opposite ( and a timewaster ) free life as a bonus 

What works in one life will not work in another , thats life and always will be .

Aufur I adore your work ethics I really do , but it wouldn't work for us as we are open 7 days to the public to wander and I have sold 4 today to just that method . They saw us on AT and wandered in . All 4 bought . 

Nick has a similar approach but from home and it works , I can see why as its free and easy for the customer with Nick being very flexible in his approach to customer service . I am just a another approach were I do all 3 methods , Deposit is taken on 40% of my sales , Tel appointments to see when they can come without deposits are also in my methods , Wander in and catch me unawares is also very acceptable , I'm way infront of the customers in the prep stages . 

So it works for our Lifestyles . 

My turn round is 18 days while holding 35 stock from 25k to 3k , so that's the reason for my approach , Finance is supplied and heavily marketed for more customer capture and the commissions too , Bolt ons are heavily marketed too , detail polishing , paint coatings , warranties , Service Packages to name a few . 

Top and bottom what i do doesn't suit you , what you do wont work for me and what we all do  wont suit Nick . But you know what we all make money , have a life , and we love it .

Be happy , stay friends , have fun , but best of all were all good at what we do . 

Have a great week ahead , make money , and best of all laugh while we do it . 

[Row 71]

22 hours ago, Nick M.K. said:

Because it works for me, because it gives me the maximum return on my investment and because when a decent buyer turns up the satisfaction is much bigger. 

The warts-n-all videos and “sorry, no deposit, no car” model isn’t for me. Never was, never will be. 

Same here

[Nick M.K. 574]

5 minutes ago, trade vet said:

Not only do I not take deposits,I also refuse them

I bought a trade car from someone like this (my PDR man connected us).

I travelled 50 minutes to get there, the car was filthy, needed some work but my very low bid was accepted. He absolutely didn't want any deposit and didn't want cash! Wanted a bank transfer for the full amount the next day or two.

Two days later I went to collect the car, they had valeted it and even had (our mutual) PDR man do the dents! 

So much better than BCA.