Miz

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2 hours ago, Arfur Dealy said:

It’s why I only appoint, video watched “deposit paid” genuine buyers. You know my thoughts...

I like your method of selling but it robs you of two enjoyable components in a deal. 

1) Finance commission 

2) That moment in an otherwise uncertain deal when your buyer is sitting opposite you at your desk, a shade of approval goes through their face and he/she says: "Yes Simon, I didn't think I'll drive off in a car today but this is definitely for me, I'll have it"... 

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16 minutes ago, Nick M.K. said:

I like your method of selling but it robs you of two enjoyable components in a deal. 

1) Finance commission 

2) That moment in an otherwise uncertain deal when your buyer is sitting opposite you at your desk, a shade of approval goes through their face and he/she says: "Yes Simon, I didn't think I'll drive off in a car today but this is definitely for me, I'll have it"... 

Nik, you don’t sell your cars by video, I do. I’m unique in the way I operate. I don’t need, nor do I want to deal with finance customers and I definitely don’t want to spend my time trying to convert the “maybe’ customers.

My customers buy from me because of the way I operate, openly and transparently. No messing, upfront honest description, confirmed buyers only.

I wouldn’t operate any other way. 

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31 minutes ago, Arfur Dealy said:

Nik, you don’t sell your cars by video, I do. I’m unique in the way I operate. I don’t need, nor do I want to deal with finance customers and I definitely don’t want to spend my time trying to convert the “maybe’ customers.

My customers buy from me because of the way I operate, openly and transparently. No messing, upfront honest description, confirmed buyers only.

I wouldn’t operate any other way. 

You're so unique ;)

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11 hours ago, tradegirl said:

No I mean when they turn up and I'm still inside the house, I give them a minute to ring the bell, and then realise they've left just based on the exterior of the car.

no............. your bloody door bell doesnt work :lol::lol::lol::lol:

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What some traders find hard to understand is I don’t want to operate mainstream. I don’t want to be a forecourt. I want to sell all my cars remotely by video on the net. I just want to deal with customers who appreciate exactly where I’m coming from and have specifically chosen to buy from me. Simple. 

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16 minutes ago, Arfur Dealy said:

What some traders find hard to understand is I don’t want to operate mainstream. I don’t want to be a forecourt. I want to sell all my cars remotely by video on the net. I just want to deal with customers who appreciate exactly where I’m coming from and have specifically chosen to buy from me. Simple. 

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2 hours ago, Arfur Dealy said:

What some traders find hard to understand is I don’t want to operate mainstream. I don’t want to be a forecourt. I want to sell all my cars remotely by video on the net. I just want to deal with customers who appreciate exactly where I’m coming from and have specifically chosen to buy from me. Simple. 

Are you specializing in a particular niche or doing 'bread and butter' type stuff with this approach?

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5 hours ago, Worldboss said:

Are you specializing in a particular niche or doing 'bread and butter' type stuff with this approach?

Mainly, German / Swedish and primarily diesel estates, but always have a variety including my PX’s from £1500 to £15000

 

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12 hours ago, Arfur Dealy said:

What some traders find hard to understand is I don’t want to operate mainstream. I don’t want to be a forecourt. I want to sell all my cars remotely by video on the net.

I understood this fully and very clearly the first time I looked up your website years ago on the AT forum. 

Wasn't disputing the MULTIPLE benefits of this unorthodox approach at all, just pointed out a couple of minor drawbacks.

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LOL, I'm in the same boat retailing Cars, rarely advertise, always cash or bank t/fer, and usually sell by word of mouth from other customers who are at the Workshop ;)

Numbers wise, a busy month I'll sell 3-4 units, quiet 1-2, but my margins are very high :D

Probably make as much GP outta 2 cars a month as I do through the workshop in a month ;)  

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To be honest there’s no reason finance couldn’t be implemented into the procees if Simon wished.

Still take the £100 deposit, process the application (20 mins extra work but worth it for the commission). If they pass great they collect like normal, e-sign the docs and you are paid via bank transfer as you request. 

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1 minute ago, SC Derby said:

To be honest there’s no reason finance couldn’t be implemented into the procees if Simon wished.

Still take the £100 deposit, process the application (20 mins extra work but worth it for the commission). If they pass great they collect like normal, e-sign the docs and you are paid via bank transfer as you request. 

Having spoken with Simon a few times I believe the reason he doesn’t accept finance is he doesn’t like the idea of finance companies becoming involved in post sales affairs, I.e. rejecting the car/fighting on behalf of the billy. 

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Which is fair enough and he is not the only dealer operating within that school thought - though personally we’ve never had any issue at all within the 7 years we’ve offered finance.

One mutually agree DEKRA report in that time on a Mini that found one minor fault (nothing like the customers claim as we and Close brothers suspected...)

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21 minutes ago, SC Derby said:

To be honest there’s no reason finance couldn’t be implemented into the procees if Simon wished.

Simon's model is brilliant (and rather brave) in that he selects very high mileage high spec models in nice condition that some buyers simply CAN NOT find elsewhere at that price point. That's why they are motivated to reserve with a deposit without test drive rather than "take the business elsewhere".  

I don't know of a finance company that will finance a used car beyond 120K miles (130 at a push) at the point of sale and majority of lenders will not consider anything over 100K miles. 

28 minutes ago, Dave2302 said:

Numbers wise, a busy month I'll sell 3-4 units, quiet 1-2, but my margins are very high :D

What I loved most about this post was the big grin at the end :-)

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I don’t think they are anywhere near as strict on mileages now. We’ve certainly had companies contact us that will look up to 150k on diesel vehicles - especially if they are newer cars with high miles.

and 120k is certainly not correct as we got someone financed on a 2006 Hyundai Santa Fe at 126k just last month (£2390).

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Most lenders I use have the 100000 mile (at the start of the agreement) rule, Close Brothers and Blue 120K. Close will look at up to 130K miles depending on the deal and my rep tells me to call him directly on anything over 130K especially if "modern classic". 

First Response are on this forum, maybe they can pitch in here with their requirements. 

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Can finance higher mileage under motor loan agreements through brokers. Can be risky on higher mileage cars. 

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Mallard especially I think advertise the 150k. Tbf it’s not something we deal in but I guess there is a market for it. 

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Chucky......I know quite a bit about offering and earning from it.To make it work,it has to be the prime variety.The hard bit is finding out what you need to sell and how to market it in order to attract the business.

In my experience the best finance companies ( not brokers) will pay differing rates of commission based on a criteria dependent on your volume of business,proposal rejection rate,no of cases that go legal and the cost of managing your account ( amount of hassle or merchandise complaints).If you can score well over a period of time,you may then be offered a volume bonus deal which can be worth a extra several hundred pounds per week and get higher with the more business you do. Interestingly if you look at the financial results of quite a few car supermarkets often their income from finance exceeds their net profits.

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2 hours ago, Arfur Dealy said:

Not anymore, it sold straight away :P

That's what I love about a Billy, anyone in our trade wouldn't keep /drive certain Cars but it doesn't mean we can't earn some folding outta selling 'em :) 

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6 hours ago, SC Derby said:

First Response will now actually consider diesel vehicles up to 160,000

I feel that soon there will be finance companies that will NOT consider diesel vehicles at all :-)

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