Trader Newbie

[Axiom 2]

I thought I'd introduce myself and say a hello to you all.

We've just sold our second car and selling from home, and am looking to source predominantly from BCA. This forum has been pivotal in us making the jump to creating a business and the pointers to various trader specific benefits, such as Lawgistics, Motorcheck etc. So, an early thank you!

Our main concern at the moment is warranties, but reading the recent topic related to them, we're still looking at options, from not offering one (which is the case with the two sold so far) to the various self-administered options; we're using their PDI and are putting a new MOT and service on the cars we sell.

Other than that, I hope to get to know you all!

Max

[AAM90 22]

Welcome Max

[justina3 518]

"not offering one" how does that work ? 

[JDM1983 28]

Welcome Max, from one newbie to another. After much thought and reading (on this forum) re warranties, I’ve signed upto the Lawgistics administered warranties today, seems a good way forward for me.

James

[DPF 18]

Welcome Max. “Not offering one” how does it work? Your customers didn’t ask ?

[trade vet 702]

Hi Max

Welcome to the jungle.

[Mark101 536]

Take a look at A1 Approved - They offer an administered own pot warranty.

My nett pot (i.e. £150 put aside per car sold less any warranty claims paid out) is now just over £3,000 since starting with them about 3 months ago.

A large proportion of this £3k, if I had used a 3rd party warranty insurance company, would never have been seen again and even then, I was often contributing to repairs when the company either refused to payout or reduced the payout.

It gives you some distance between the customer and you whilst you ultimately can cover what ever you want.  They take the hard line, computer says yes or no approach but you can (for the right customer), pay whatever you like to keep the customer happy. 

[Axiom 2]

Thanks for the replies and info. I'll check out A1 Approved. Do you change the level of cover offered based on age and mileage, or just offer the one warranty, such as A1 or A1 Executive? We've been thinking about the Lawgistics booklets too. I meant sticking to the CRA in terms of not offering a warranty. It's certainly a big learning curve! 

We're also looking into types of advertising and are currently only on AutoTrader on a pay as you go basis. So far it's been 1st caller buying each car and although I'd like to believe that it'll be like that all of the time (I don't), I wondered whether AT/Motors/eBay Pro is a common combo, or any other portals worth examining.

[Wheelerdealer1 91]

Trading from home? Brave !

[Arfur Dealy 823]

1 hour ago, Wheelerdealer1 said:

Trading from home? Brave !

It’s where a lot of us started and learnt the ropes, nothing wrong with keeping it cheap for as long as possible, as long as you do the job right and keep the neighbours sweet, then go for it Max.

It sounds like you’ve got your head screwed on, good luck to you. 

Edited April 17, 2019 by Arfur Dealy

[It's me 615]

2 hours ago, Arfur Dealy said:

It’s where a lot of us started and learnt the ropes, nothing wrong with keeping it cheap for as long as possible, as long as you do the job right and keep the neighbours sweet, then go for it Max.

It sounds like you’ve got your head screwed on, good luck to you. 

+1

[Wheelerdealer1 91]

Yes I have done it myself, don’t get me wrong most of the punters are good folk not looking for a confrontation, but these days I wouldn’t like the thought of the nasties knowing where me and my family slept at night 

[metcars 397]

On 18/04/2019 at 11:44 AM, Wheelerdealer1 said:

Yes I have done it myself, don’t get me wrong most of the punters are good folk not looking for a confrontation, but these days I wouldn’t like the thought of the nasties knowing where me and my family slept at night 

Nobody is safe! If those sorts of 'nasty' people want to find where you live, they will?

Think like a MI5 agent. Always take a different route home. Zig zag to avoid the bullets

[Axiom 2]

On 17/04/2019 at 3:57 PM, Arfur Dealy said:

It’s where a lot of us started and learnt the ropes, nothing wrong with keeping it cheap for as long as possible, as long as you do the job right and keep the neighbours sweet, then go for it Max.

It sounds like you’ve got your head screwed on, good luck to you. 

It's going well so far, and have opted for the self-administered Lawgistics policy booklets and putting £150 aside from each sale. We have cars 3 and 4 up for sale since the venture started at the moment.

On 21/04/2019 at 4:32 PM, met said:

Nobody is safe! If those sorts of 'nasty' people want to find where you live, they will?

Think like a MI5 agent. Always take a different route home. Zig zag to avoid the bullets

Investing in CCTV as I write this! 

 

[Arfur Dealy 823]

On 4/18/2019 at 11:44 AM, Wheelerdealer1 said:

Yes I have done it myself, don’t get me wrong most of the punters are good folk not looking for a confrontation, but these days I wouldn’t like the thought of the nasties knowing where me and my family slept at night 

They "nasties" would simply follow you home... 

2 minutes ago, Axiom said:

It's going well so far, and have opted for the self-administered Lawgistics policy booklets and putting £150 aside from each sale. We have cars 3 and 4 up for sale since the venture started at the moment.

Investing in CCTV as I write this! 

 

I started using the Lawgistics booklets at the beginning of the year and I can honestly say I have not had one "warranty" claim so far (touch wood). I don't put money into a pot, you are better off reinvesting and earning more, if I entertain a genuine complaint, I just sort them out as as I would expect to be sorted myself. BTW, I spent over 30 years as a home-trader and never offered a warranty.