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Do we buy more cars or hold onto our money?? We stock about 80 cars and vans, buy about 5 to 10 everyweek, don't know if AT, Ebay, Cargurus going to help again or even the government

Been on BCA catalogues during the day for Monday, stock to be had. 

Suppose we are not an essential retailer so will have to close again. 

Edited by A & S
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So are we ‘holding our folding’ at the block now? Perhaps CDM can go definitive on this for all of us?

Edited by metcars

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Wouldn’t surprise me if some auctions close again. If dealers can’t open they won’t be buying so prices will fall through the floor. Doubt auctions will want to give cars away.

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....... eat out help out didn't help anyone, brainless idea. Now we're all fooked up again.

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For what it’s worth I’ll be sitting on my hands, I think cash will be king in a month or so. From the conversations i’ve had with friends and ex-colleagues still lucky to be working for some of the big dealer groups, September didn’t save most of them and sales have dropped off a cliff since (to quote more than one sales manager’s exact words). I think they will be liquidating aging stock/raising money come December. Add that to the delayed finance repossessions that have got to start filtering through at some point and desperate sellers needing quick cash, think the used car market could get decidedly messy. And that’s before you even get to brexit/3rd wave/zombie companies.......

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12 hours ago, Lakeside said:

Wouldn’t surprise me if some auctions close again. If dealers can’t open they won’t be buying so prices will fall through the floor. Doubt auctions will want to give cars away.

Prices fall thru the floor, can't see it?

I've been/seen many recessions/global panics/Y2K doomsday/Gulf wars etc and one thing that always happens, used stock goes up in value.

...the usual rules of supply and demand will still operate.

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28 minutes ago, Frank Cannon said:

Prices fall thru the floor, can't see it?

I've been/seen many recessions/global panics/Y2K doomsday/Gulf wars etc and one thing that always happens, used stock goes up in value.

...the usual rules of supply and demand will still operate.

Correct but are car dealers classed as none essential shops? If so we have to close, if we close we won’t be selling anything, if we’re not selling anything we won’t be buying from the block either.

Edited by Lakeside

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48 minutes ago, Frank Cannon said:

Prices fall thru the floor, can't see it?

I've been/seen many recessions/global panics/Y2K doomsday/Gulf wars etc and one thing that always happens, used stock goes up in value.

...the usual rules of supply and demand will still operate.

I believe you’re correct. Hasn’t this always been an industry whereby less customers = less secondhand cars = higher prices? At least it’s always seemed that way to me.

We’ve all experienced the industry in the months since Lockdown 1. For small operators won’t the aftermath of Lockdown 2 be similar? 

Edited by BHM

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This virus is a first for everyone no one has ever seen anything like it, for me i try to look at what went on last time in the auctions, for example first lock down BCA closed there doors and everything went on line and the prices went into outer orbit. 

This time is a little unclear as to if your can open or not Wales we where told to close and that was that thankfully for only two weeks i have plenty of viewings booked for the 9th onwards already. 

If prices do take a dip which i cant see i will be there waving my virtual hand in the air 

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1 hour ago, Lakeside said:

Correct but are car dealers classed as none essential shops? If so we have to close, if we close we won’t be selling anything, if we’re not selling anything we won’t be buying from the block either.

Didn't happen last lock down, prices went and stayed mental.B)

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1 hour ago, Frank Cannon said:

Didn't happen last lock down, prices went and stayed mental.B)

The first week or two after they reopened I picked up a few absolute bargains way under cap. Soon changed again after a few weeks agreed but that was because car sales could re open.

The point I’m trying to make is if car dealers have to close but auctions can stop open as online only who’s going to be buying cars from the block? 

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Might be different this time because BCA have found a way to include privates and chancers by lowering the trade account criteria and allowing blue card to ‘up’ to silver and be able to buy online? Here’s seems to be and endless supply of these guys who feel an account is like a key to the promised land? 

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3 minutes ago, metcars said:

Might be different this time because BCA have found a way to include privates and chancers by lowering the trade account criteria and allowing blue card to ‘up’ to silver and be able to buy online? Here’s seems to be and endless supply of these guys who feel an account is like a key to the promised land? 

The same happened to Copart. A few “influencers” on YouTube started channels showing apparently how easy it was to buy and repair salvage off your driveway to make money. Now thousands of their viewers have got a copart account, the prices shot through the roof and nobody can afford anything.

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26 minutes ago, Lakeside said:

The same happened to Copart. A few “influencers” on YouTube started channels showing apparently how easy it was to buy and repair salvage off your driveway to make money. Now thousands of their viewers have got a copart account, the prices shot through the roof and nobody can afford anything.

Wonder how many people have been badly stung with that though:lol: realising fixing accident damaged stuff isn’t as easy as it looks.

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1 hour ago, MarkTVS said:

Wonder how many people have been badly stung with that though:lol: realising fixing accident damaged stuff isn’t as easy as it looks.

People are easily lured into what they perceive to be making easy money? 

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Next week is going to be fun.

A couple of us have been working all day trying to plan client vehicles for the next 6 weeks.  Some fleet sales people who have responded think they will be completely shutting next week so no new car deliveries after Wednesday but the collection companies believe they will still be collecting end of contract cars as normal.  These cars will need to go somewhere.

The next hurdle is a no deal Brexit as nobody has currently confirmed they are price protecting cars that run into next year.  If a no deal does happen and 10% import duties start I think there will be another round of price increases on all sub 4 year old European stuff.
 

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8 hours ago, justina3 said:

This virus is a first for everyone no one has ever seen anything like it, for me i try to look at what went on last time in the auctions, for example first lock down BCA closed there doors and everything went on line and the prices went into outer orbit. 

This time is a little unclear as to if your can open or not Wales we where told to close and that was that thankfully for only two weeks i have plenty of viewings booked for the 9th onwards already. 

If prices do take a dip which i cant see i will be there waving my virtual hand in the air 

We are in Wales and we 'closed'. I think we did 6 this week, including 2 walk ins.

Everyone we know was 'closed' as well, if 'closed' means being open but not making it really obvious.

We have delivered a few more than normal, but apart from that, not much is different.

 

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14 hours ago, metcars said:

People are easily lured into what they perceive to be making easy money? 

Hmm, good point...everybody wants something for nowt. 

fuck the cars I'm doing magic beans on Fleabay, this tine next year Rodney.... ;)

Edited by Frank Cannon

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1 hour ago, Frank Cannon said:

Hmm, good point...everybody wants something for nowt. 

fuck the cars I'm doing magic beans on Fleabay, this tine next year Rodney.... ;)

Yeah I like the sound of magic beans? But obviously we only sell a few in our spare time so it’s not like we have to declare that? It’s just a hobby? 

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In the government guidance issued it states, "Non-essential retail can remain open for delivery to customers and click-and-collect." 

I take it we should still be able to operate to an extent, I guess it will be business as usual for BCA.

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We've been operating safety measures since opening, click and collect and delivery, 100% of our transactions have been appointment only, we can still operate delivery and click and collect so not sure if we'll be as affected as last lockdown. just need to shut the showroom,.

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4 hours ago, metcars said:

Yeah I like the sound of magic beans? But obviously we only sell a few in our spare time so it’s not like we have to declare that? It’s just a hobby? 

:D

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We have always tried to do face to face business as its more straight forward in terms of the customers rights etc. and I know they definetely like the car.

We have been doing home deliveries which again is a clear distance sale so I understand the rules around that.

Now looking at offering click and collect though and I am worried / confused about the distance selling rules that go with it. 

Just been told there is a big difference between taking a holding deposit or reservation fee vs taking an actual deposit in how it affects the customers rights to request a full refund for up to 14 days after delivery. Been told if we get this wrong they could even ask for a refund up to a year after delivery!!!

Apparently if we take reservation fees the contract doesnt start until they come to the garage to collect the car so they dont have the 14 day rights.

Does anyone have any knowledge on this please?  

 

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3 hours ago, trader555 said:

BCA have confirmed business as usual during lockdown, online programme with option to collect from centre or delivery.

Yea I heard that too. Doubt there will be much stock coming through though. Guessing WBAC will have to close so no UKCGR stock, dealerships are click and collect only so not sure how p/x’s will work?, will lease companies be still be sending stock through BCA? Not sure how it’s all going to pan out to be honest.

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