XDR

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XDR last won the day on June 20

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    X DRIVE MOTORS LTD

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  1. Phil, I’ll add my two pence. If you are going down this route, make sure your commission offsets any potential of a comeback / screamer. As most cars that are “sticky stock” are sticky for a reason. Unless you are buying of someone you’ve down plenty of business with I’d say tread with caution
  2. OP - I generally feel for you, especially with a 6k bill - that’s a stinger! However, in our trade... we live by the good old saying “no risk, no reward”. Surely buying a high value vehicle from multivendor should ring alarm bells? We all know the ratio of it being a dodgy car to it being retail ready is heavily weighted to one side. I may sound like a d*ck, but you took the risk (which other seasoned buyers wouldn’t), and unfortunately on this one you got burnt. PS - I once saw a multivendor C63 2008/2009 at Measham - with high miles and category D marker. It went for £8,000.00 - did I bid? Nope because of the vendor.... was it cheap? HELL YEAH!!!
  3. Apparently the high prices, we’re due to the car super markets boys being a bit greedy and not letting anyone else take stock? (So I’ve heard)
  4. I’ve learnt the hard way myself (mainly close family). They want a specific spec, mileage etc. Before I’d say “sure no problem”, i’d bid on the car without no security as it’s family. Now whether it’s a loyal customer, family or my staff. The rule is prior to auction put down a 25% deposit on the car. If we don’t get it, a full refund back. If they wobble and don’t buy it after we’ve won it - thanks for the cheap car!
  5. Seen this happen one to many times. About a year ago, my builder who was doing my extension knew I was in the motor trade, but didn’t utilise me (I was going to charge him a small sourcing fee). Instead thought he’d cut the middle man out as he believed he had the “experience”. Not only did he get shafted on fees, but also the car needed mechanical prep. by the time he was done, it owed him near enough retail - but no 6 month warranty to claw back on. I had no sympathy at all as it serves him right! Leave it to the professionals.
  6. 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.
  7. I would be very interested to see how you get on. What vendor were they? If you don’t mind, once you’ve got them delivered if you could fill us in on how they turn out? I’m sure you’ll be doing us all a favour - as you’d either ease the uncertainty of buying online or make us change our profession for a few months haha!!
  8. My only concern is... these loans have been handed out to every Tom, Dick, Harry and his dog too. Even if things level off a bit, things will be much more pricey going forward. We’ve gone past the days of anywhere near CAP CLEAN / Slightly above it. Now we’re going to have to factor in the abundance of money. People now have 50k burning a hole in their pocket, and some people will gladly spend it in an absurd / not financially sustainable way (as they think it’s not their money). So only people winning are 1) Vendors - as they get higher sale prices 2) Auction - more fees 3) Customers - as they’ll get a competitive price - as dealers will squeeze their own margins to make money
  9. Check mate! - I’ve got one even better 2013 BMW M5 ( came in today) • Alpine White / Red Leather • 50k Miles • MARGINAL CAP CLEAN £15,700 BCA SOLD PRICE £22,000 + FEE’s to be added yet that’s nearly £6.5k over book? Unless a celebrity or royalty had that car, it can’t justify that price!
  10. Talking about burnt fingers, I know of 2 local dealers, who hit the “buy it now” button and purchased unseen, when we first went into lockdown and this is what happened to them; Dealer 1) Bought an assured car, All green ticks nothing of any concern. Collected the car and by the time he hit the motorway .... he got an Gearbox Malfunction Light (Audi) - rang assured team, they said they are closed and can’t do nothing until they are open / when they open - APPALLING! Dealer 2) Bought a Car, not assured Or essential check, but upon collection, the car had a nasty miss fire, and the paint work granted it was a grade 4 had so many different shades / panel gaps - ALL STUFF YOU’D NOTICE AT A PHYSICAL AUCTION To be honest that’s why I’m trying to hold on, and not buy anything without physically seeing it. Our jobs are pretty much to see, hear and touch a car before we bid. At the moment there’s too many Billy Big Boll*cks bidding - let’s hope it calms down soon
  11. @Lakeside I’m glad the feelings mutual - The risk to reward ratio based on the current auction prices just isn’t worth it. I’m not working for £200-£300, as quite frankly a comeback / prep could see you in the red quickly . Normally, my chores for Sunday would be feet up, a cup of coffee and get on the BCA App to start tracking stuff for tomorrow, but based on current situation...I don’t see much point. As for sourcing private stock, very rarely have I found a seller who will take near cap clean.... they always seem to be pricing their vehicles around main dealer (but don’t understand its not achievable) Hmmm... what a weird time to be in this trade - let’s pray BCA really start thinking about opening up soon - I doubt it though as at the moment it’s a party down there ... “let’s get rid of all our sh**ters, that we’ve had for months, for above cap clean, as dealers need stock / have some money”
  12. Good Evening All, Hope you are all keeping well? Im glad to read that for the majority of us, the sales & enquiries are now picking up. However I wanted to ask .... how are you guys getting on with buying stock? For us, we mainly use BCA and a handful of other auction houses - however the prices recently have just been eye watering! I anticipated prices would be in line with the typical DEC/ JAN period - where people will pay strong money for stock (even factored in for the bounce back loan / grant brigade) - however I’ve seen several cars go 2-3k over cap clean (even with bone dry spec). Its now coming to that point that it’s easier sourcing stock away from the auction. Are you guys holding out until physical auctions, or are you getting stuck in the bidding wars? I just couldn’t justify paying stupid money for a car (1k over book) then to find out I’ve bought an absolute shed - as I’m sure We all agree .... auction pictures, reports never tell you the full story.
  13. Yes, it will reduce it by 50 percent. However, I’ll do you a favour and gladly take it in.
  14. Spot on mate! Not going to lie, I’ve got a slight itch to buy stock at the moment... but I’m holding tight until I know what’s Borris’s plans & if there is a lifting in the lockdown. my belief is that the first week of the auctions, will be tough.... cars prior to the auction were fetching above cap clean... don’t even want to imagine what they will in after all this
  15. I’m glad you’ve noticed this too. I’d hate to be one of those people who are now trying claw black money - with a Multivendor label, it will never allow the car / bidder to get their money back. I’d say get ready to lose at least 15-20% of what they paid to the auction. As for the original vendors, I guess they’re happy because it’s one less knackered car that they have to worry about. Bid with caution! I’ve noticed some of them have that too. Do you reckon, it’s stock which was bought via stocking loan and now taken back in? So BCA can recoup money? but surely if that’s the case, they would give it a better vendor section then “multivendor” Then again, with so many dealers getting paid grants, bounce back loans etc, it wouldn’t surprise me one bit if everyone puts their hands up in the auction halls - bidding with their bank balances and not brains