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Showing content with the highest reputation since 06/06/20 in all areas

  1. 3 points
    The falling pound will affect the car market because the country will become poorer. Fewer people in work, pay falling or stagnating. Fewer youngsters taking driving lessons and buying their first car. Demand drops across the industry.. The value of currency is a good indicator of a country's economic health. It is significant because a lot of UK's debt is non-Sterling - so interest payments rise when the pound falls. Also we import more than half our food plus most of our cars, car parts, tools and equipment etc etc. It will all get more expensive. We all get relatively poorer and business gets a lot tougher.. The economy was struggling BEFORE coronavirus. In the first three months of the year the UK GDP fell by 2.2%. That's the biggest fall since 1979. I have been in business since the late 1970's so I have seen my share of ups and downs, but what we are facing now is the biggest downturn in history. The fact that the government are contemplating a no-deal Brexit with concomitant tariffs in the current situation just beggars belief. We are being led off a cliff. And I say that as someone who has been an active member of the Conservative Party for 27 years.
  2. 3 points
    I’d never take investment from someone else wanting to take a piece of my profit while I did all the leg work or partner with someone - personal preference but I like to answer to me alone and know all my profits are mine (and the tax and VAT man unfortunately) If you want to expand can’t you take a bounce back loan or get capital yourself?
  3. 3 points
    Fuck me there is some knob jockeys about on here these days Why don't I just buy that Car for you, ship it to USA and then when you recieve it you can send me the money .................................... TWUNT
  4. 3 points
    I liked the overall jist of your post and it's made me think of a few bits:. - The 50k BBL is very much a self cert affair, what do you turnover and when would you like the money are essentially the qualifying criteria. - While the car auction craziness may end by Aug-Sep the effects of mass redundancies, reduced spending and the inevitable inflation caused from the dishing out of 'stimulus' money haven't been felt yet. So, although we will almost definitely see a CAP price increase now we run the risk later of a massive contraction as demand dries up. Dangerous game to play. - When you attempt to stimulate a market with the kind of hand-outs we've seen (specifically rate relief grants and furlough money) you devalue the currency already in circulation by "printing" more (it's more adding 000's on a computer screen rather than printing). This leads to a rise in the price of goods and services because you need more of the devalued asset to exchange for the thing you want. If you've stimulated a market properly the new "money" will be spent. In the market/ world we're in right now with huge uncertainty (second wave question mark and socio-economic problems globally) I think it's unlikely to see businesses or consumers being frivolous (more a batten down the hatches mentality?). To make matters worse, many who have received this money haven't had it in addition to what they would have had, they've had it in replacement of, so it's been spent in the normal way i.e. all we have is more currency in the system, and the big boys who were allowed to trade earlier than the rest of us or by nature of their business to trade throughout (amazon etc) have likely hoovered up what luxury or recreational spending of that "new money" occurred... and they'll do their best to spend as little as possible of it here!
  5. 3 points
    Been there got the t shirt. Not worth the bother, out it and put it down to experience. Move on. Some you win, some you lose.
  6. 3 points
    only way is to rub them down with 1200 them 2000 then buff with an electric wheel and compound for long term you could then mask up and lacquer the lenses
  7. 3 points
    Just waiting on a quote from Aston Lark and I can’t use Ashley as I was one of his customers at Premier but I definitely do recommend him is there anyone else you guys would recommend just got off the phone with towergate so waiting on a quote with them too think insurance have quoted me 3k+ than my current insurance is so that’s a no no
  8. 3 points
    I see,missing the swapper from the invoice and flogging it to a trader for cash out of the back door.I contend that any car dealer who only buys from franchised dealers these days and never uses auctions is probably using bungs or some illegal inducement to corrupt sales managers.You should have reminded them that if HMRC uncovered that there could be serious consequences for the company.As for accommodation deals or ‘ fronted deals’ as you call them,that is one for the FCA.With proof like that,if you had been playing your cards right,you should have been promoted or given a pay rise.I just wonder what may have been going on with PCP proposals regarding mileage estimates to reduce monthly instalments. Several years ago at a local auction a guy was witnessed using a code reader on Lookers entries prior to sale day.The auction subsequently denied any wrong doing by their vendor regarding the putting out of engine manage lights !
  9. 2 points
    Hello, Just wanted to start off by saying thank you to everyone who commented you have all been very generous with your time and advice. I have got a bounce back loan but it is not enough to cover the costs of expanding and I have no access to capital from any other source. No they won't they understand that it is a risk and they are confident in the business model. Yes that is also something that I can do, there is a cheap parking lot not too far away where I can add additional cars if need be. Yes I agree with the stock type that is required in London, although sourcing them is never easy. With regards to the employees I have a couple already ready to start with me who have has prior experience in the field. That is why I wanted to ask everyone on here, I had the same thoughts cross my mind. So I thought I wanted to share my thoughts and see whether the figures and the basic indicators look good for me to take the step forward or stay as I am.
  10. 2 points
    Welcome to to the forum Faz if your making a wage in these times my thoughts are do you really want to include other investors in your business with a lot more overheads with rent etc keep doing what your doing from home on a 1 man basis would be my advice especially in these troubled times good luck whatever you decide .
  11. 2 points
    Hi Faz Does 3 grand per month include business rates.You need to bare in mind that because you can now sell ex lease stuff there are no guarantees that you will be be able to replicate it from the proposed showroom.Every pitch is different and I have had 7.As it happens I have retailed ex lease stuff for a long time in the North East but when we took a nice pitch in London which was very cheap,we found we could not sell ex lease stuff.The punters there wanted very low mileage small automatics so if you go ahead with this showroom be prepared to change your business plan. Good Luck.
  12. 2 points
    I was gonna suggest a hammer and a phone call
  13. 2 points
    It is held by two screws, these may be hidden under plastic covers, either yellow or black in colour, then you'll see the screws, turn them to the left with a suitable instrument, usually a "screw driver" will suffice, remember, lefty for Lucy, right for tighty
  14. 2 points
    Talk of reducing the social distance this coming week, so all who including me, have wasted money on making / buying 2 metre gaps signage But, here, it is staying, and customers will have to abide until it is zero distance, at just over 3 foot it is too near spitting distance! I think at one metre your just saying back to normal, I think a bad move, as it is this week I have had to remind people about the gap and the worst thing is reminding people to stop touching things! Nearly run out of anti viral spray already! But we do need to get driving instructors and examiners back somehow, I do a lot of business with daddies little twinkle, and it can be a quite easy sale. Test drives ? At 1 metre are you now willing to go out with them ? Or do you put them in the back.? No way will I be going in back by the way, I like to be near the wheel for customers that can't judge where the kerb is ! Been inferred this week l may be going over cautious, reminded them it is my business, run by me, my way, if you do not want to buy at a covid secure business, erm, go away
  15. 2 points
    Thank You John , It's greatley appreciated
  16. 2 points
    Glad to read your feedback, please always feel free to reach out if I can help with anything.
  17. 2 points
    You’d think that with COVID 19 and businesses not operating at full capacity the risk would be Lower for claims so it would be cheaper but alas it’s not tbh mate they were one of my options but wanted pictures of the inside of my premises by that time I already had something sorted with premier but kudos to them for still delivering big thanks to especially Declan and josh too
  18. 2 points
    Seems a few are getting crazy renewal quotes recently , while we've been struggling they've still had their coin , only be loyal if they're being loyal , I went over to Road Runner / Aston Lark can't fault their service so far hopefully I will feel the same next year , they went out their way to help out .
  19. 2 points
    Imagine being a private and so stupid to think you are getting a better deal at BCA than just walking into a dealer and buying. My fees are bad enough on platinum the private ones are horrendous. I've never bought more cars privately / trade to trade facebook the amount of money ive saved in fees is unbeliavable. For every ten cars its about £4k its a lot of money saved.
  20. 2 points
    Spot on Sir! You ever though about getting a job in the parliament? - Well said! I think people are adopting the mentality of “its borrowed money” and are taking higher risks, Don’t think they’ve read the T&C’s of the BB loan.
  21. 2 points
    Update: renewing through Premier insurance in Winsford, big thumbs up to Declan & Josh that sorted everything out for me. Would recommend these lot if you’re looking for a decent quote p.s they did better the renewal price I was originally quoted
  22. 2 points
    Temporary: supply is down (a lot), demand is up (due to built-up demand) --> prices rise Long term: demand will pass thru normal then be down (a bit, or a lot, depending on how the recession pans out); supply will either match demand or go up --> prices fall Its getting to the point, it might actually make financial sense for dealers to put their cars BACK into auction, because they'll make more now at auction, than their current or future retail value. It is indeed irrational at the moment.
  23. 2 points
    We're in what is known as an irrational market. Buyers with government money burning a hole in their pocket, limited supply of vehicles and online auctions. This will lead to a lot of dealers making bad decisions that come back to bite them. The indications are for a big rise in unemployment and reduced annual mileage (more working at home, cycling etc). That doesn't sound like a market that's going to sustain higher prices. Its going to kick off when the furlough money stops.
  24. 2 points
    It is the same with vans ( we only sell vans)...even real junk Vauxhall Vivaros ( never touch them ) with 160k miles going for £1000 over cap clean. Hopefully will all settle down soon
  25. 2 points
    Damn you beat me too it poverty spec 150 bhp but with 30k miles. i have a photo but the forum won’t let me upload. Anyone with sense will rise this out, don’t play into BCAs hands and get them when all the BBLers have spent out.
  26. 2 points
    Rather than trawling through the dodgy privates & traders on FB & Gumtree I’d rather take a punt buying blind from the block. Obviously trade-ins are the best source. As for do-er uppers I always have punters for £1500-2000 cheapies. For a few hundred quid you’re not risking much & most get through an MOT for another £100-200. Most selling these cars sell them for a few quid profit with no prep & a few months MOT. I find if you spend on prep & an MOT you can often get close to a four figure sum out of cars in this price bracket for a few hours of your & a mechanic’s time. The profit to outlay ratio is superb.
  27. 2 points
    We have had a self funded scrappage scheme for years, it's called the MOT
  28. 2 points
    Reading that it would seem to answer itself to me . Would I join ? Doubt it .
  29. 2 points
    Indirectly related, but be aware of this: https://www.fca.org.uk/publication/multi-firm-reviews/our-work-on-motor-finance-final-findings.pdf (gory details), https://www.fca.org.uk/news/press-releases/fca-acts-protect-those-buying-motor-finance (summary) and also your requirements under CONC (full details here https://www.handbook.fca.org.uk/handbook/CONC.pdf) For sure, there is going to be increased public awareness of motor finance and I suspect a lot of high-end dealers and car supermarkets making a number of changes. Basically, don't look at making extra money on finance at the expense of the customer!
  30. 2 points
  31. 2 points
    god knows, looking at the ownership you would think they are well propped up financially, going to be interesting to see how they try and replace lost revenue from lack of entry's moving forward. when you look at the business model of some auctions - advance the vendor Cap clean, collect and sell car, finance the buyer, it's all fine in a buoyant market but looks fragile in times of uncertainty, they now have to do this without knowing how wounded their vendors or buyers are. the recent case i know of was a franchise vendor who had multiple entry's in a sale, 6 sold but no funds were forthcoming, auction claimed the buyers hadn't paid, that may be true for some of the cars but unlikely for all, its resolved now but it took them over two weeks to resolve, and it was before lock down, as you can imagine it's left a bitter taste for the vendor who is now looking at disposals elsewhere.
  32. 2 points
    Thanks for all the advice guys, just a quick update... They have dealt on the car and I do have a small profit - £200, plus they have also recommended me to someone else who is coming down today to look at one of my sticky cars (6 weeks and no views) so hopefully I can get deal on that as well. As I cant physically visit you all who gave advice, have a virtual drink from me
  33. 2 points
    All the gory details are here: https://www.fca.org.uk/publication/multi-firm-reviews/our-work-on-motor-finance-final-findings.pdf Upon reading through, I think the situation is worse than a lot of people think it is. The franchise dealers were preparing for an upheaval this summer (then came along CV19) but if enough momentum builds in the claims management sector to go after them for historical issues then I believe we will see a bloodbath. Put simply, the timeline is something like this: 1. The financial regulators were historically quite weak 2. Banks and credit card providers took the piss and mis-sold PPI 3. A ruling was made, which the consumer groups won. (Then another related test case was also won). 4. The regulators liked the smell of victory and "got teeth" 5. Other areas of retail finance sat up and noticed; but car finance didn't 6. Car finance sector continued mis-selling on an industrial scale I believe another issue - one which CV19 will also 'break' - is the rather cosy relationship between CAP and the auction houses. Effectively they were trying to dampen down the volatility of used car prices, to reduce risk which the finance houses typically carried (because they're financing, and ultimately own, >80% of cars). In an otherwise balanced situation, if they can control supply then supply-demand means the prices stay up. Change demand by a significant amount (CV19, plus the part-collapse of PCP finance market) and their controls become ineffective. I believe we're heading for at least a partial- unravelling of the car finance sector, which is somewhat propping up the car industry.
  34. 2 points
    Nothing wrong with a profit and that's what to say to them . No BS , i have to make a profit because the tax man expects me too , or it looks dodgy . car retails at 5 k and with the prep , new wing , and a small profit to show the tax / VAT man its got to be £4,795 and that's doing you a huge favour because that leaves me £150 profit for the handling , you cant begrudge me a drink surely . Its all in the way you explain the the deal and not the number at the end .
  35. 2 points
    Is that really as surprise? When I occasionally visit these places they always APPEAR to be over staffed & half of what they employ looks like deadwood to me. The staff merry-go-round twirls as fast as ever, these places are generally fuelled on bullshit & the whole new car industry is selling a product that about 90% of the populate can’t/won’t pay for. I may be incorrect but I also get the impression certain new cars only get a private bum on a seat if it’s via Motability. I’d of thought serious change is long overdue.
  36. 2 points
    What does it owe you and what's retail? Is there a halfway house to keep the peace, and you get a little earner out of it?
  37. 2 points
    top of the page click news this bulletin board lives by new threads being started and getting replies,I really dont know if you accusing me of sniping and negativity but I will add you always seem to want to disagree with whatever I say,this can be good or bad but shouldn't be taken as whoever's is right or wrong because everyone should have an opinion,I know I do finally can I ask how many new threads you have started to get members to post and is it not the case that members new or old leave most bulletin posts boards in life once the novelty wears off as natural wastage theres a private sector by the way if you feel strongly about something,its not a place that interests me I like things to be in the public domain
  38. 1 point
    I really don't think you will find anyone who can do it for free???? Have a few contacts there and if you PM me with the exact details I can link you.
  39. 1 point
    The main problem at the moment is buying but..... ....all of a sudden the cheapie buyers are cheaper than ever & I've had a few customers downgrading to my £3-4K stock due to redundancy.
  40. 1 point
    Hi guys, a bit of background about me. I'm late 30's, have always enjoyed fixing up cars and am looking to turn my hobby into a business. I am under no illusions it will be hard work without a guarantee of success so the goal is to start off part-time, keeping my full time job, keeping costs low, while I see how things go. I do want to be an above board trader from the start though, offering cars with a warranty for peace of mind, etc. There's a loads of great threads on here with the nuts and bolts of starting out, etc. so I have a good idea of what's required (I've ran a few IT contracting LTD's so know what's required on the accounts side of things). BUT I wanted to run my business plan by you guys and get your thoughts if you don't mind. Constructive feedback welcome. In general I want to offer modern classics (90's era) coupes and convertibles. I think having a niche is a good plan and will let me focus on a few core models at first (MR2, MX5, MG, etc.). I'm looking to find fundamentally good cars that need work to bring up to scratch. So something with good history, low/average miles/owners but has body/mechanical/presentation issues (no write offs) then fix any issues, full service, MOT, valet, polish, etc. full prep prior to sale. The goal being restore them back to their former glory on a sensible budget, build a good reputation and learn the ropes. Not chasing profit yet but working towards being able to jack in my soul destroying IT job eventually if it works out. As I'm starting out the goal will be to learn rather than take any big risks so I'm thinking get something worth a bit fixed up but relatively cheap to buy when they need sorting out - MK1 MX5 being a good example. Eventually I'd like to restore/update older classics, sort out bigger bodywork jobs, improve drivetrain/handling/.etc - I'm thinking MGB V8 conversations would be popular and a good earner (a big process I'm reading up on at the moment). I have a double garage at home with a pit and some storage around the side of the house. It's presentable so initially to keep costs low I plan on starting out from home (but as a trader as I mentioned). If things work out I'll upgrade but the goal is keep costs down in the early stages so it doesn't make sense to rent somewhere bigger at the moment. What do you reckon? Cheers, Matt
  41. 1 point
    Have a couple of 19/19 Startlines due back but basic engine and white with barn doors so pretty much the opposite of what you want. Will pm you if anything nice pops up.
  42. 1 point
    JUst had an email back from autotrader, see below Make and Model: BMW 116I SPORT I am writing to confirm that we have been in touch with the insurance company in relation to the above vehicle. The insurance company have confirmed that the total loss category N was entered against the vehicle in error. The insurance data base has now been updated to reflect this and therefore the marker has been successfully removed from our systems. So now all seems to be good
  43. 1 point
    Great idea. Something I fancied for years myself... Just can't imagine how you can make profit with this business model unfortunately. Especially doung it part time.
  44. 1 point
    Ashley was my first choice after premier but because he’s the one who got me my policy last year and he’s only moved to UK global in the last 6 months I can’t use him (as he can’t speak to his previous clients for 12 months). He is very good at what he does though im trying to find a way I can use him though
  45. 1 point
    Ive used Think insurance never had problems I've always got an ok service but some here say they haven't @Ashley@UKGlobal or @John Cook - Aston Lark Are both helpful too ive spoke to both with insurance related question and will use them for business insurances in the near future
  46. 1 point
    basically they have you by the nuts work out if calling their bluff is worth future lost sales if not say no if it is maybe it would be easier to unravel the sale of the fiat and p/x and then issue new invoice for the fiat and write off the p/xas undone in your paperwork in case of future hmrc issues in relation to cra yes you would be liable,as it doesn't discriminate for charitable organisations as they want you to be a very difficult dilemma choose wisely me? well I would probably do a deal to appease them thinking I've done ok so far and a happy customer always stays a happy customer an unhappy one tends to go on social media citing 'avoid like the plague 'even though you did nothing wrong
  47. 1 point
    I haven’t read the rest of this because I’ve had a couple of beers. But from when I worked for them a few years back and the support they gave me when I highlighted back handers from part exchanges and a fronted finance deal they can go f themselves,
  48. 1 point
    Took our council 24 hrs to pay the money to us . 19 th March to now is a touch slow I would think .
  49. 1 point
    well I'm washing my hands of them
  50. 1 point
    A lot of people bash the Chinese yet pretty much everything is made there even the apples and Samsungs etc. I was on a £25 sim only tarrif and for £30 i would got the p30 pro. £25 would be the p30 and £20 for the p30 lite. So do bear in mind some phones have variants like the p30. TDi, SRi, V6, Premium, Luxury, e