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Arthur thicken

Find an fund

32 posts in this topic

1 hour ago, Arthur thicken said:

Has anyone done any good with motonovo’ find and fund?

Rumour has it that Santander might be launching something similar.......I would not be surprised if Black Horse do the same,how much is it....£2 per week per car or something ,potentially a good earner for finance companies......that’s what it is all about,it’s not about helping their supporting dealers !

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I still don't understand why someone would sign up and PAY for something that has no audience.  MotoNovo really taking the `michael` out of their dealers on this one.

 

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18 minutes ago, Earunder said:

I still don't understand why someone would sign up and PAY for something that has no audience.  MotoNovo really taking the `michael` out of their dealers on this one.

 

It may be optional at the moment......but for how long ?

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I think the broker stock search's are far better option for me to be involved in, for one Zuto's is free (i believe) and they have a proven audience of customers.

The issue with lender search engines is alot of the time customer don't look at a lender for a car, i think that's where broker's have the upper hand.  

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43 minutes ago, trade vet said:

It may be optional at the moment......but for how long ?

Quoted us like £330 for 120 cars... Said no thank you...

22 minutes ago, Tadams said:

I think the broker stock search's are far better option for me to be involved in, for one Zuto's is free (i believe) and they have a proven audience of customers.

The issue with lender search engines is alot of the time customer don't look at a lender for a car, i think that's where broker's have the upper hand.  

They do at the moment but that's because they have been doing this for years.  People said brokers won't last when the FCA took over... Well they have and they seem to be doing ok from where I sit.  I have no problem with brokers, we use Evolution as our sub prime as they only prop to a maximum of 4 lenders after doing a `soft search`.  That for me is good for a broker. 

You go to gocompare, and all the other comparison sites and they submit your data to 30+ insurance companies that credit check you!  That's unreal and not in the best interest of the customer.  If a customer checks their insurance on a car then decides to go ahead with that car immediately after, if the finance company judge by credit rating alone that will hike the interest up to the customer... TCF???  I don't think that is, but you don't see gocompare and all these comparison sites getting a rollocking.  I know it's a soft search and only stays 40-60 days but it doesn't matter as it still shows in the time the customer applies for finance on a car and like I say if your lender uses credit rating alone, it doesn't see the drop or reason just the lower rating from the credit searches by the insurers.

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6 hours ago, Arthur thicken said:

Has anyone done any good with motonovo’ find and fund?

No - not an email, finance enquiry, phone call, nothing for 10 weeks. The most expensive advertising I've ever done, @ £7 per car they are well and truly shafting the dealers, people talk about AutoTrader being a rip off but at least it works, on top of that I was told by my motornovo rep (who up till this fiasco launched was fantastic but now very cold) that this will mean my commissions might be cut. Aw well, more business for Santander.

this whole site should have been free to dealers to advertise stock until we start getting a response then charge us a fair price to advertise, not paying for a promise that it might one day in a few years time might, just might deliver some sales. I couldn't believe from day one they were asking dealers to pay £7 per car, tying them into long contracts then saying they were using this money to market themselves. So really no risk to Motornovo, no initial outlay on building audience and no marketing cost as this was already covered form the dealers pocket

MOTONOVO - if you want it to work, give it away free till its worth charging for. you'd then get all the cars from dealers instead of the paltry 60,000 cars you have on there which in turn would drive people to come to the site. You're going to fail but you wont care because its cost you nothing - you're getting hundreds of thousands of pounds every month from dealers and not delivering, just speaking for myself here but hate wasting money

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2 hours ago, RH Trading said:

 I was told by my motornovo rep (who up till this fiasco launched was fantastic but now very cold) that this will mean my commissions might be cut. Aw well, more business for Santander.

this whole site should have been free to dealers to advertise stock until we start getting a response then charge us a fair price to advertise,

+1 +1 = 2

We smelt BS from the get go so declined to join in the fun when our, up til then, ever so friendly rep touted the concept.

They've made a real hash of it IMO and the name is simply awful...

We haven't seen or heard from our rep since it began and we 'we're gonna miss out boys'. If we start getting our commissions cut we'll just change broker. They need us more than we need them as far as I can see it.

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5 hours ago, Earunder said:

Quoted us like £330 for 120 cars... Said no thank you...

They do at the moment but that's because they have been doing this for years.  People said brokers won't last when the FCA took over... Well they have and they seem to be doing ok from where I sit.  I have no problem with brokers, we use Evolution as our sub prime as they only prop to a maximum of 4 lenders after doing a `soft search`.  That for me is good for a broker. 

You go to gocompare, and all the other comparison sites and they submit your data to 30+ insurance companies that credit check you!  That's unreal and not in the best interest of the customer.  If a customer checks their insurance on a car then decides to go ahead with that car immediately after, if the finance company judge by credit rating alone that will hike the interest up to the customer... TCF???  I don't think that is, but you don't see gocompare and all these comparison sites getting a rollocking.  I know it's a soft search and only stays 40-60 days but it doesn't matter as it still shows in the time the customer applies for finance on a car and like I say if your lender uses credit rating alone, it doesn't see the drop or reason just the lower rating from the credit searches by the insurers.

Yeh like wise, we use Zuto's new dealer referral team, they work in a similar way (soft search in house first then only goes to where it could be approved) it's been great as the lending panel is x18 now so we next to never get anything come back as declined everywhere. 

Comms need a bit of work but the ease of process is a plus for us and happy to stick with them until the comms change ^_^ 

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23 hours ago, RH Trading said:

No - not an email, finance enquiry, phone call, nothing for 10 weeks. The most expensive advertising I've ever done, @ £7 per car they are well and truly shafting the dealers, people talk about AutoTrader being a rip off but at least it works, on top of that I was told by my motornovo rep (who up till this fiasco launched was fantastic but now very cold) that this will mean my commissions might be cut. Aw well, more business for Santander.

this whole site should have been free to dealers to advertise stock until we start getting a response then charge us a fair price to advertise, not paying for a promise that it might one day in a few years time might, just might deliver some sales. I couldn't believe from day one they were asking dealers to pay £7 per car, tying them into long contracts then saying they were using this money to market themselves. So really no risk to Motornovo, no initial outlay on building audience and no marketing cost as this was already covered form the dealers pocket

MOTONOVO - if you want it to work, give it away free till its worth charging for. you'd then get all the cars from dealers instead of the paltry 60,000 cars you have on there which in turn would drive people to come to the site. You're going to fail but you wont care because its cost you nothing - you're getting hundreds of thousands of pounds every month from dealers and not delivering, just speaking for myself here but hate wasting money

Agreed and I so want it to work.  I approached my rep too and said it needs to be half the price at least, but really free to existing dealers.  I also mentioned how Motors.co.uk had to seriously rethink their prices after the initial overpricing- but she's not interested, or at least is all closed up about it.  

I thought they were chucking a load of their own money in too but I dunno if this is so.  Those TV adverts aren't cheap though.

I've had a couple of enquiries but ithas led to nothing.

 

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22 hours ago, NOACROSS said:

Agreed and I so want it to work.  I approached my rep too and said it needs to be half the price at least, but really free to existing dealers.  I also mentioned how Motors.co.uk had to seriously rethink their prices after the initial overpricing- but she's not interested, or at least is all closed up about it.  

I thought they were chucking a load of their own money in too but I dunno if this is so.  Those TV adverts aren't cheap though.

I've had a couple of enquiries but ithas led to nothing.

 

We’re also with motors with ivendi finance calculator attached, only added recently, we started getting email enquiries, we initially thought it was find and fund, it turned out it was motors, the find and fund uses the ivendi platform, so I sent an enquiry to myself, it appears similar in the email, but look closely and they’re different. We’ve had nothing from find and fund, we said we’d do an initial 3 month period, we’ve been charged £895 per month, I told them people on the forum were paying a lot less, the reply was everyone pays the same. We have 125 cars, can anyone shed some light on this, as a few have quoted £200 to £300 for 120 cars.

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4 hours ago, Arthur thicken said:

We’re also with motors with ivendi finance calculator attached, only added recently, we started getting email enquiries, we initially thought it was find and fund, it turned out it was motors, the find and fund uses the ivendi platform, so I sent an enquiry to myself, it appears similar in the email, but look closely and they’re different. We’ve had nothing from find and fund, we said we’d do an initial 3 month period, we’ve been charged £895 per month, I told them people on the forum were paying a lot less, the reply was everyone pays the same. We have 125 cars, can anyone shed some light on this, as a few have quoted £200 to £300 for 120 cars.

You've been charged £895 per month for 125 cars?

No I can categorically say everyone isn't paying the same then, My bill was £325 + vat per month for 35 cars. I was told that some of the supermarkets were free of charge due to them being desperate for cars. I cancelled due to zero response, the motornovo rep tried to hold me to 12 months, it was a real headache but they finally agreed to let me cancel but only after I threatened legal action (I do notice my cars are still on there though so half of me is expecting another bill)

So for 3 months you'll have paid £2685, and you've not sold anything yet? hope it picks up for you

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On 3/9/2018 at 0:03 PM, Arthur thicken said:

We’re also with motors with ivendi finance calculator attached, only added recently, we started getting email enquiries, we initially thought it was find and fund, it turned out it was motors, the find and fund uses the ivendi platform, so I sent an enquiry to myself, it appears similar in the email, but look closely and they’re different. We’ve had nothing from find and fund, we said we’d do an initial 3 month period, we’ve been charged £895 per month, I told them people on the forum were paying a lot less, the reply was everyone pays the same. We have 125 cars, can anyone shed some light on this, as a few have quoted £200 to £300 for 120 cars.

Better to stick with AT, it may cost £££££, but the return is there. I'd rather my AT bill go up a bit than try these other platforms. I've yet to find one that gets even close to it.

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40 minutes ago, NOACROSS said:

We're busy too- no thanks to F&fund so far- and we're not even on Autotrader-yay!

Who do you use for advertising? Or do you have a good pitch for walk ons?

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Motors.co/uk (average, still not convinced), ebay Motors Pro Classified (most leads are from here-with best offer enabled), Car Gurus (can advertise for free), Exchange & Mart, Local Press too when there's an offer on. Bookface as well, although just through paid banner campaigns occasionally via Exchange and Mart.

Website is hosted by the excellent Click Dealer who also take care of the SEM to whatever level you want.

Remember, lots of people google search first rather than just going to a dedicated advertising site (this has been covered to death on this forum so I don't want to start that conversation of Autotrader Wars again, but we haven't missed them)

Main road Site, but not many walks ons that haven't seen it online. We're in a pretty rural location and there's not much going on in the village otherwise.

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Fair enough, I dont want to start another AT discussion either, We all have differing opinions on that one! I had 3 Months with Motors a couple of years back, Didnt get me anything at all, so dropped it as soon as I could. Have used ebay too, tend to find it worked better with either cheap stuff or stock that was a little different.

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ebay auctions yes - a waste of time.  Classified (with best offer enabled) we find works a treat, as I know it does for others. We don't have any cheap stuff.

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No sold nothing yet, there is distortion as we have ivendi on our motors adverts and motonovo use it as well, however I did a test enquiry and it clearly says find and fund on the relevant advert so now easy to track, basically not an enquiry. It’s easy with Autotrader, they have dealer portal and motors have the eye, in February we had 77 traceable enquiries from Autotrader and 49 from motors, you can see the emails, listen to incoming calls, you know what you’re getting for the money. Find and fund has not worked for us, they are back with some stats saying 75 finance configurations were done every day on our stock, you would think one would turn into something, and I don’t know how they can give such accurate info on how many people use the finance calculator against our stock but can’t match anything else in terms of calls to dealership, emails or call tracking which is easy to set up and costs £2 per month.

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1 hour ago, Arthur thicken said:

No sold nothing yet, there is distortion as we have ivendi on our motors adverts and motonovo use it as well, however I did a test enquiry and it clearly says find and fund on the relevant advert so now easy to track, basically not an enquiry. It’s easy with Autotrader, they have dealer portal and motors have the eye, in February we had 77 traceable enquiries from Autotrader and 49 from motors, you can see the emails, listen to incoming calls, you know what you’re getting for the money. Find and fund has not worked for us, they are back with some stats saying 75 finance configurations were done every day on our stock, you would think one would turn into something, and I don’t know how they can give such accurate info on how many people use the finance calculator against our stock but can’t match anything else in terms of calls to dealership, emails or call tracking which is easy to set up and costs £2 per month.

Do you use motonovo for finance with the nexus 2 system?

You can see a report on nexus 2 if you click the left icon which says 'reporting ' 

Then click 'online retailing report ' 

Then toggle the bit at top from my website to find and fund.

 

 

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Just had my Motonovo rep in to say they are giving F&F free now to any dealers that have supported them with this- including (like us) those that have previously cancelled.

I think they missed a trick there and should have given it free to all their MN dealers from day one.

 Anyway- good that it's now a Brucie at least.

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33 minutes ago, NOACROSS said:

Just had my Motonovo rep in to say they are giving F&F free now to any dealers that have supported them with this- including (like us) those that have previously cancelled.

I think they missed a trick there and should have given it free to all their MN dealers from day one.

 Anyway- good that it's now a Brucie at least.

It has taken 6 months for the penny to drop.I recall they were claiming that it had been a resounding success from the outset.Those arse covering corporate bullshitters should get fired and their loyal dealers should get refunded.They have probably lost good supporting dealers over this.

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8 months.  Yeah-They still are saying it's a success from what I heard.  They're now moving on to the 'next phase' or something.  We'll see.  

(even) I can't complain now it's free I guess.

I agree about being refunded but that'll never happen.

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But dont these big clever highly paid people listen to the minnows who actually do the job,,,ok they listen but then do what they want,,,, I remember posting on here before it was launched that they cant just jump in and knock AT off their perch they need support off dealers and only real way to get support is gradually build the product not dive in and charge the same as number 2 in the market. I still think the concept is great and i would pay for it when it is established and giving proven results but i tried it and sold nothing for 3 months so unfortunately had to cancel it. 

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Yup - very true & we all said the same.  They could afford to and should have given it free and grow it slowly- without millions wasted on TV advertising I say, but what do I/we know!

I really like MN as a finance company and their system and payouts are very good and I wish them well with it now they have seen sense.  

It'll either become a good product or will fizzle out.  Time will tell!

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