Newbie dealer struggling for 2 years

[umesh 336]

1 hour ago, C B said:

 

I have to disagree Umesh. 

I, probably like a lot of others started part time. 

Why wouldn't you? 

You have the income security of your job whilst you get set up and start the ball rolling. 

2 years is a very long time, I did it for 6 months until I believed I was as ready as could be to jump into it full time. 

Two years part time in my opinion is a long time, you have to try it 'part time' to find out if its for you or not, or learning, absolutely agree with you! but you have to decide if you want to make a business full time or carry on dabling 'part time- full time' if you get my meaning.! 

[EPV 631]

2 hours ago, akhtar said:

is it possible to find cars at good price from bca catalgue with buy it now option after becoming gold member ?

You seem a little obsessed with getting to Gold. It makes a small difference but that’s all it is really. Small. It ain’t the difference between making it pay and losing money.

There is no “secret place” where a select few get clean stock a grand behind book. We all buy from the same place. 

As others have said, i’ll say it also, with the greatest respect, if you can’t turn a profit on a car or two after 2 years at this, then put your sheepskin coat away and find something you are good at.

Speaking from the point of a relative newbie, you either “get it” or you don’t. Like most things in life. You’re good at some things and crap at others. Focus on your strengths. 

[TangoVictor32 90]

It seems like you're getting into bid wars.

You need to do your home work.

For example

£2500 value

Max bid £1000 as you have plus fees plus any possible repair costs plus mot plus travel costs or delivery

Now your max bid could be a little more if you can do some work yourself or maybe you know the common faults for this particular model and you know the potential final cost.

There's also other things like spec / colour / fsh / keys to consider which could increase value or max bid and due to lack of these could also decrease your numbers.

Like others have said this is your own game you bring as many footballers and goalposts to this match and if you get bogged down by the opposition its due to being silly. 

 

 

[Arfur Dealy 823]

This job isn't easy. If you can't make money on bangers after two years, I don't think this job is for you. 

[justina3 518]

If you thinking your can pull a £1000 from a bread and butter car best think again that market is hard and very price driven i speak from day to day experience, if i was you i would forget bread and butter stock pitches have this sown up you have to think outside the box, maybe search Mrv posts he started off looking at bread and butter and has changed his thinking. 

I buy bread and butter most days bought two foxes and a VW up today on line, I can charge more than you so logically i can pay more than you this is a fight you will never win.

Major re-think on the cards mate or your going to be in the same place next year and the year after, plenty of good examples on here spend an hour or two reading back and having a nose at what others are doing and doing well. 

chin up.

 

[Arfur Dealy 823]

38 minutes ago, justina3 said:

If you thinking your can pull a £1000 from a bread and butter car best think again that market is hard and very price driven i speak from day to day experience, if i was you i would forget bread and butter stock pitches have this sown up you have to think outside the box, maybe search Mrv posts he started off looking at bread and butter and has changed his thinking. 

I buy bread and butter most days bought two foxes and a VW up today on line, I can charge more than you so logically i can pay more than you this is a fight you will never win.

Major re-think on the cards mate or your going to be in the same place next year and the year after, plenty of good examples on here spend an hour or two reading back and having a nose at what others are doing and doing well. 

chin up.

 

The thing people think our business is easy. Buy a cheap car at auction, wash it and then make thousands....

Cloud fecking cuckoo land. We are professionals. 

[Mojo121 229]

8 hours ago, akhtar said:

thanks for replies and advice. The cars I purchase are in the range of £1000 to £2500 . Golfs mark4, Vauxhall Astra, Peugeot 308cc, Ford focus. Main cause of loss is too many bidders and  auction fees plus delivery.

Too many bidders, auction fees and delivery are all things you're well aware of. The problem is you and how much you wave your catalogue. You need to take responsibility for the losses and understand where the blame lies. As others have said do your research and stick to it.

[have a word with the wife 299]

you can't do this part time, the job needs 100%, i have said it before [many times] the key is to add value, if you dont add value, you will never make it, a house buyer adds value, a valet adds value, a shop adds value, how does a shop add value ? well, your being served, your getting a warm, your explained the product, and they're in a convenient spot, for a 1st class example see arfurs polo, he has added value, something we all do on here in one way or another !

 

[akhtar 0]

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

[Blenheim Car Sales 111]

Yes Quit you do that, Thats what all successful entrepreneurs would do 

[Rory RSC 596]

4 hours ago, akhtar said:

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

Its not everyone else. Its not always someone else's fault. 

[metcars 394]

4 hours ago, akhtar said:

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

 Stop buying the cars that the big boys are buying. You will never be able to compete with them. Buy the stuff they dont want and you might be in with a chance. Things that might need work? If you are hoping to buy clean, low miles, full history cars at auction with no competition you are dreaming. Work smarter not harder!

[MarkTVS 209]

I did start out buying lots of French stuff, the margins are great, there is lots of headaches with them but they were great to start with, now I actively avoid French stuff.

[XFS 70]

7 hours ago, akhtar said:

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

You are looking at the wrong cars. Most of us couldn’t or wouldn’t bother competing for the cars everybody wants.

There is no easy road, you need to learn what to buy and to do that you need to learn about what you want to buy. 

At the start it’s risky and time consuming and you will lose money, but then you will gain the knowledge to make a profit.

I am at a different end of the market from you, but I know what I have a chance of buying because I know what to take a risk on and what to avoid.

EML on puts people of, but there are certain cars you can gamble on because it’s nearly always a quick and easy fix. Things like Small dents in nearly all panels gets a poor grade and lowers the price, but if you know your stuff in terms of whether the dent guy can fix them easily, then it may be a very cheap repair.

There we’re certain models of convertible I would buy with the roof inoperative because I knew what the likely cause was and how cheaply I could fix it.

Can you fix minor scratches without spraying, can you compound polish a car? Do you know how to get rid of smells?, can you clean a roof lining? Can you make a decent repair on a leather seat?

There are many things you can do yourself to add value and that’s where your money is.

Standing at an auction and trying to buy a ready to retail car and expect to make a profit on it? Why do you think you can do that? Why would any of the established guys let you. Oh, here you go old chap, you take the profit on this one. Not going to happen.

[justina3 518]

And to be honest there are loads of little tips similar to what XFS kindly offered that wont be shared on a public forum, cost me a lot of money time and effort to learn what i know. 

Its a tough old world sometimes.

[David Horgan 564]

8 hours ago, akhtar said:

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

First rule of business Akhtar is this .

If its not working for you ITS YOUR FAULT , Got it, ITS YOUR FAULT  .

You are doing the job WRONG , Its no one else to blame .

I would outbid you at every turn , I will make you Puff & blow and call me a pillock at the block , , But its because I know my mkt and KNOW I'm going to make a handsome profit . 

Years of self critique have learned me lessons I don't forget . I also do NOT work for peanuts either . I also sell 20/30 units a month , Money in the metal and bolt ons too 

Aurfur Daly has said we are pro's at what we do and he's right , You have to learn the trade and an auction catalogue is NOT where its at either , I don't need a catalogue .

 

You have to ;learn how to bid , when to bid , when to stop , when to go higher , what sells , what doesnt , how quick they turn and how slow , Know the stocks faults and how to fix it , How to sell , how to present yourself , What to say to a customer , Know EVERY THING about the car your selling , How to prep it , where to sell from and were not to sell from.

Some people are born sellers , other are not .and this makes a huge difference , Come here and you would leave with the  car ,that i would promise you .   Some cant sell , some cave into letting the customer control , 

Some cant prep , others its natural , 

Lots to learn in this job Akhtar , its not BCA Gold card + Catalogue + Wave arm in air + get car and sell it . YOU Have to work at EVERY part of this job and it has to run in your blood veins . 

Good luck by the way , All the very best .  

 

 

[Rory RSC 596]

17 minutes ago, justina3 said:

And to be honest there are loads of little tips similar to what XFS kindly offered that wont be shared on a public forum, cost me a lot of money time and effort to learn what i know. 

Its a tough old world sometimes.

I started typing before and stopped. Some people you can help who have given it a go. This ones pissed me off a bit.

 

[MattR 177]

Akhtar, you need to look at your whole business idea. To me, you sound like what most on here will term a 'plastic trader'. you are chasing easy money, but need to add value. pitches are full of astras, golfs, focuses etc. Mine is. But ive got a great local reputation, put a warranty on it, Fully Valeted it, offer finance and ive fixed it before its even marketed. And its on AT. So I can ask (and get) more than you. 

what do you offer? Facebook? £5 hand car wash and vac? you have to be (a lot) cheaper than me. So if you chase the same car as me you will be outbid or work for very little. Thats the hard facts of life. So buy something different if you want to Swim. Or do more of the same and sink.

Silver card, gold card, doesnt matter. Dealer Auction is real. you are looking for problems which dont exist. the problem is how YOU are trying to do business.

And Rory, I agree, he has pissed me off a bit too. 'please tell me everything I need to know to make millions' is how this sounds. I just hope this sorry story of akhtar the plastic trader acts as a warning to a series of amateurs who will look at this forum thinking its easy.

[AGS 0]

If your not making profit with probably little to no overheads then I would give up. 

Wait until you have Vat bills rent and big expenses to pay out like most of us do. 

Your probably relying on the CAP retail valuation too much unless you have a proper business and come across as such then you will never achieve any where near retail when selling a car especially the sort of cars your buying. 

 

 

 

[Mistermuttley 19]

On 15/03/2019 at 3:53 AM, akhtar said:

tangovictor, the funny thing at auctions is A car that retails at £2500 sells in hall for £2200 pluss fees + delivery. so even when i stop bidding at £1500. there are other big traders who keep taking it up. My trade insurance is due for renewle mid april. I really do not feel like renewing.

Sometimes you have to take a punt on the less desirables at auction. Ones which the regulars who don't want to put too much effort in will steer clear of. 

For example i just bought a 2009 VW Fox. Needs some work, all of the exhaust looks like it could be off the titanic and it was blowing as it went into the hall. windscreen wipers and screws in engine bay are rusty (scottish car) , the passenger wing needs replacing and a repair carrying out to the bumper near it. And new wheel trims ,MOT and service. But it cost me £570 with fees. All in it will owe me about £1100 and at £2000 it should go out quickly as its done just 56k miles. It does help if you can do a bit of spannering as that keeps the costs down. Sometimes you just have to put your neck out with certain cars as the unloved ones dont get fought over like the grade 1s and 2s and even 3s.

[MrV 66]

23 hours ago, XFS said:

You are looking at the wrong cars. Most of us couldn’t or wouldn’t bother competing for the cars everybody wants.

There is no easy road, you need to learn what to buy and to do that you need to learn about what you want to buy. 

At the start it’s risky and time consuming and you will lose money, but then you will gain the knowledge to make a profit.

I am at a different end of the market from you, but I know what I have a chance of buying because I know what to take a risk on and what to avoid.

EML on puts people of, but there are certain cars you can gamble on because it’s nearly always a quick and easy fix. Things like Small dents in nearly all panels gets a poor grade and lowers the price, but if you know your stuff in terms of whether the dent guy can fix them easily, then it may be a very cheap repair.

There we’re certain models of convertible I would buy with the roof inoperative because I knew what the likely cause was and how cheaply I could fix it.

Can you fix minor scratches without spraying, can you compound polish a car? Do you know how to get rid of smells?, can you clean a roof lining? Can you make a decent repair on a leather seat?

There are many things you can do yourself to add value and that’s where your money is.

Standing at an auction and trying to buy a ready to retail car and expect to make a profit on it? Why do you think you can do that? Why would any of the established guys let you. Oh, here you go old chap, you take the profit on this one. Not going to happen.

Great post

[umesh 336]

23 hours ago, David Horgan said:

First rule of business Akhtar is this .

If its not working for you ITS YOUR FAULT , Got it, ITS YOUR FAULT  .

You are doing the job WRONG , Its no one else to blame .

I would outbid you at every turn , I will make you Puff & blow and call me a pillock at the block , , But its because I know my mkt and KNOW I'm going to make a handsome profit . 

Years of self critique have learned me lessons I don't forget . I also do NOT work for peanuts either . I also sell 20/30 units a month , Money in the metal and bolt ons too 

Aurfur Daly has said we are pro's at what we do and he's right , You have to learn the trade and an auction catalogue is NOT where its at either , I don't need a catalogue .

 

You have to ;learn how to bid , when to bid , when to stop , when to go higher , what sells , what doesnt , how quick they turn and how slow , Know the stocks faults and how to fix it , How to sell , how to present yourself , What to say to a customer , Know EVERY THING about the car your selling , How to prep it , where to sell from and were not to sell from.

Some people are born sellers , other are not .and this makes a huge difference , Come here and you would leave with the  car ,that i would promise you .   Some cant sell , some cave into letting the customer control , 

Some cant prep , others its natural , 

Lots to learn in this job Akhtar , its not BCA Gold card + Catalogue + Wave arm in air + get car and sell it . YOU Have to work at EVERY part of this job and it has to run in your blood veins . 

Good luck by the way , All the very best .  

 

 

Well Put Mr H ! 100% 

[BHM 994]

Hi Akhtar, as you want to improve your earnings yet you’ve earned little over the last two years you won’t go far wrong if you forget everything you’ve been doing & start afresh.

You've received some good advice above from many, you’d be wise to read all posts (including the ones you don’t like!) and have a good think whether or not this industry is for you.

[Tony911 79]

Akhtar we got a vw polo in px today it's done 136000 miles 1.4 petrol good history cam belt done MOT expires today and doubt it will need much to pass also bodywork has a few age related marks but at £500 it's yours. Spend £2-300 on it and surely you can get a wage out of it and trust me you won't get 1 from auction at that price. AutoTrader retail value coming up at £1875 and it's 5 door

Edited March 16, 2019 by Tony911

[Max Branning 149]

2 hours ago, Tony911 said:

Akhtar we got a vw polo in px today it's done 136000 miles 1.4 petrol good history cam belt done MOT expires today and doubt it will need much to pass also bodywork has a few age related marks but at £500 it's yours. Spend £2-300 on it and surely you can get a wage out of it and trust me you won't get 1 from auction at that price. AutoTrader retail value coming up at £1875 and it's 5 door

If i had a £1 for every time someone told me that i would be retired by now !