bimbo

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About bimbo

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    Newbie

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  • Your industry
    Independent dealer
  • Dealership/company name
    Indy is me TBD

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  1. I couldn't agree more that data is just complementary to any business and you still need to know the business, which is something I would wholly admit not to knowing a lot about in this case. But it has been proven that data is a powerful tool for any business also and does help, but is certainly not a smoking gun by any means. It certainly isn't a load of rubbish but you do need to know how to navigate the data and use it properly. A point I don't think I made clear enough earlier was that I would only use the tool to help give me an overview of the market and potentially help identify particular models that could sell well in my location. Once I decide I am going to buy a particular car on paper, I then need to go and view/inspect/haggle/buy and as has been pointed out, no computer program will ever help with that. Aside from an OBDII scan Absolutely, I believe if you don't things proper better of not bothering at all.
  2. Haha, funny that. I have been contemplating trying to buy a convertible on the cheap during the winter months and selling in the summer. Not sure how well that work though. I sure will, thanks. Yea, absolutely. Totally legit, no other way imho. This will be part time, so I will aim to stay under the VAT threshold. In fact, I don't think I mentioned that. This is just going to be a side business for me. Mainly because I enjoy working on cars and cleaning them up etc. Welcome and good luck! You sound positive, which is always great. Actually, I didn't post this earlier, because I was unsure about the response i'd get but here goes.. I am a software engineer and I am in the process of building some tooling that will index all of the (major) car classifieds sites in the UK. With that data, I can then try and get a good view of the market, to determine things such as: Average lifetime of an advert Average price Average price drop (based on original asking) Common cars for sale and what makes/models sell best What is the average spread between private sales and dealer sales (does one exist?) Which model variants are most popular i.e. which have the shorter lifetime This should then help me identify cars worth buying that I will have some confidence of being able to move on. I don't know much about the used car market really and i'm not being naive, I think the software can only help a small bit, there is so much more to do and learn but i'm interesting in learning and getting up to speed. I like trying out new things.
  3. Hi all, I have just joined and popping by the general forum to say hello. I am just in the process of setting up as a trader. Having done a lot of research, there is still a lot more to do but I am confident in what I am learning. This forum seems to have a great vibe and I look forward to collaborating with you all. -- If you are interested, I am based in SW London and plan on buy cars around the 3-6k mark, hoping to flip within a couple of weeks of purchasing. Still trying to do analysis on this approach etc. Cheers