trade vet

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trade vet last won the day on June 14

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About trade vet

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    Independent dealer
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    Jack Ford ltd

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  1. It is a long time since we operated down there.3 grand per month for rent and rates sounds very cheap to me.Have you checked the cost of good insurance cover because despite having 20 years no claims with Aviva,they and a few others refused to give us a quote. 14 cars is a nice size ,however you only want short term loans from your investors otherwise they will want to be involved.
  2. 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.
  3. Hazard a guess,Stratstone Pendragon. Could be waiting for a 70 grand per week footballer to come along who would not be put off by a new front end ?
  4. NIG,part of Direct Line Group,good luck with them should you need to claim.( Had to take DL to Ombudsman on a 2 grand straight forward and only claim in 20 years )
  5. I do understand that it will be the finance companies who will be taking a hit.From what you say they might have done well previously with this stuff so it could average out.As for dealers,good luck to them,I cannot imagine what some of their punters are like and the headaches they get.
  6. I am not sure if you can now get good insurance cover for cars left out in the open.The last open pitch we had in the 80’s we could only get road risk cover which was far cheaper.We just used to budget a few grand per year for vandalism.However this was bread and butter stock.With open pitches you will always get some vandalism but we found together with the savings in business rates on open pitches and cheaper premiums,it worked out.
  7. Thank you,good post AWC,all above my head.Supercar status cymbals on chucky or on PCP which is even worse.I don’t get it.It’s different in the US,where corporations buy them on finance for executives and get hidden in their accounts.( making them tax deductible ) No company car tax or Benefit in Kind obstructions over there of course.I only know this because I met some US super car dealers who were attending a Lambo sales conference where I was recently staying.( They were down to earth guys )
  8. I see it is a recently incorporated company and there are now 2 directors.Could it be that the undesclosed director is only 20 years old and who is also listed as a director of several other recently incorporated companies ? I would imagine Traders Cover would be very expensive for a 20 year old should they be able to get a quote.Good luck.
  9. I knew a retired franchise sales manager who got into finding,renovating and selling MGB’s.A year or so later I bumped into him and enquired how he was doing.He was still finding MGB’s but instead of renovating them for resale he was stripping them and flogging off parts online all over the world which he said was far better.
  10. Surely these novelty ‘super cars’ should be 50% deposit and for A credit score hirers only.Are you saying there are subprime lenders out there for this stuff.
  11. Pardon me but I am doubtful you have had good advice,he does not sound to me like a chartered accountant.
  12. Proper finance companies ( not brokers) prefer and reward loyal supporting dealers and not those who prop various lenders at the same time.Future finance income could be in the form of a volume bonus.
  13. I was told by a reliable source that DVLA are only operating with few staff and are only dealing with what they deem essential work.
  14. Supermarkets relying on subprime,are you sure,that is news to me.
  15. It is right,you do need to show a profit with a quick sale at this value or it can be flagged up by HMRC ( even 5 years later ).On the other hand you don’t want to fall out with good customers.An alternative is to sell for cost plus work and prep with a side agreement to buy it back within 2 years for £2k with some T@Cs.