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hi peeps. just to say hello as a new face to this great site. just starting up new business with the £1000 to £3000 range of vehicles. anyone have 5 golden rules to follow lol... cheers.

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Hi Mr wow really, I would seriously put this question in the FAQ section you'll probably get better answers there ;)

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3 hours ago, MrV said:

Hi Mr wow really, I would seriously put this question in the FAQ section you'll probably get better answers there 

3 hours ago, andymc1973 said:

he who has the gold makes the rules, plus buy low sell high

 

3 hours ago, andymc1973 said:

he who has the gold makes the rules, plus buy low sell high

Haha is 9ct ok 

 

3 hours ago, MrV said:

Hi Mr wow really, I would seriously put this question in the FAQ section you'll probably get better answers there 

3 hours ago, andymc1973 said:

he who has the gold makes the rules, plus buy low sell high

 

3 hours ago, andymc1973 said:

he who has the gold makes the rules, plus buy low sell high

Haha is 9ct ok 

God help me hope  can sell better than working out how to reply

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Rule 1........... Do some research on this site before asking silly questions.

 

 

 

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5 hours ago, wow really said:

hope  can sell better than working out how to reply

The selling is the easiest part of this game.

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There are no such thing as golden rules what works for me would be a disaster for another dealer five miles down the road.

Sadly it’s going to be a hard learning curve, this industry isn’t for everyone lots try and many more fail. 

Listen to everyone’s point of view and decide on what bit of advise fits for you.

 

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1 minute ago, justina3 said:

There are no such thing as golden rules what works for me would be a disaster for another dealer five miles down the road.

Sadly it’s going to be a hard learning curve, this industry isn’t for everyone lots try and many more fail. 

Listen to everyone’s point of view and decide on what bit of advise fits for you.

 

And download the Car Dealer Magazine - how to sell cars - or whatever.

I have downloaded it (haven’t read it yet), partly out of support to this forum (I have learned a lot) but mainly because I am not niave enough to believe I can’t still learn.  It may be aimed at Newbies but a quick scan looks like it could help us slightly less newbies too.

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17 hours ago, wow really said:

just starting up new business with the £1000 to £3000 range of vehicles

Consider changing that range to £2-£5K. 

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47 minutes ago, Nick M.K. said:

Consider changing that range to £2-£5K. 

Probably the best bit of advice you will ever get, and it’s only day one!

£1-3k cars are ok when they are swappers that you’ve driven and nicked from the punter. 

Trying to buy a £750 car at auction, any auction is mostly a disaster waiting to happen. Set your minimum purchase price at £1500. 

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6 minutes ago, EPV said:

Trying to buy a £750 car at auction, any auction is mostly a disaster waiting to happen

Because of the level of their buyer fees I would also say try some local buying from private ads or even supermarket notice boards for the sub £1000 purchases. 

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19 hours ago, wow really said:

hi peeps. just to say hello as a new face to this great site. just starting up new business with the £1000 to £3000 range of vehicles. anyone have 5 golden rules to follow lol... cheers.

no credit     1

if your not sure of the customer, or they are too demanding, dont sell it to them    2

write down exactly what you spend on each individual car, dont forget advertising    3

pdi every car    4

be keen on your costs     5

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10 minutes ago, have a word with the wife said:

no credit     1

if your not sure of the customer, or they are too demanding, dont sell it to them    2

write down exactly what you spend on each individual car, dont forget advertising    3

pdi every car    4

be keen on your costs     5

6 Read the CRA, fully understand your obligations and rights

7 Do the right thing, look after your billy’s

8 Don’t be a mug. Be firm but fair

9 Don’t think for the slightest moment this job is easy money. It isn’t. 

10. Grow balls like Benji

11 Read, re-read all of the above again and again and learn.

 

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20 hours ago, wow really said:

hi peeps. just to say hello as a new face to this great site. just starting up new business with the £1000 to £3000 range of vehicles. anyone have 5 golden rules to follow lol... cheers.

I'd say 1 rule would be don't do this game unless you have to. But whatever. Enjoy. It's hard as hell right now getting stock and I see no signs of it getting easier.

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So just logged on. Knew it was a good move to finally join. Firstly thank you how ever brutal, yet truthful the replys have been. 

Secondly and I apologise if this goes on to long but I'll explain more of the idea and business. 

Ok so myself and my business partner have finally given up the rat run which was working in London. Fortunately with out sounding arrogant.  The industry we were in has allowed us to set up this new business with out the burden of worrying if it doesn't make a success and can be put down to well we tried. However money makes money. So even an investment of x thousands seems ridicules,  If the idea is workable then it's a no brainer.

The plan for the price range we were thinking was that people do want everything and more, but people also want it for nothing. By being totally frank with the motors to the customers. And saying yes the car does have a wing dented yes it does have a rip on the seat and yes left rear window electric switch plays up etc.  Then the idea in our head is people will know it's not mint but if they get 1 to 2 years and scrap it after surely it's worth buying. Even reading back 1 to 3k is steep lol. We would be working on quantity. As the land we have has access for 60 ish cars. Idea being if advertising is done properly and cars sell even a profit of as little as £150 per car at even half of them cars a week is serious money. Remember the price looking back at 1 to 3k in hindsite the sub 1000 pounds. Bracket would be more ideal

 

Anyway that's the idea please feel free to call me mad a f@@@@king what ever or maybe actually u may be on to something. 

Also the land to store and view the cars. Including working office is already owned so does not need to  be taken into account financially. Working on the cars and mot etc does need paying for if needed. But again if a local good machanic has a guarenteed flow of cars per week. Would they normally strick a deal price wise????

I know there is the 2015 sale of goods act??? Which will be needed to read and scrutinised but if the cars are sold and appraised exactly as the customer sees including all adverts etc. Is this enough. Bear in mind worst case senario car sells for 800 and for arguments sake it comes back and to repair cost 900 would it be a right off and so just pay back customer minus wear and tear ??? Again if thats ridicules then please say haha. 

 

Anyway think this sort of gives an idea. Like I said it's a business  that is there to cater for the low low market. As long as safe obviously and mot pass. Could or would it work on large quantity. Again not even going into the 1500 bracket or above. Just simple cheap run arounds that will be as disposable of a mobile phone!!!!! 

Again if you read this thank you. 

 

Cheers.

 

6 hours ago, EPV said:

Probably the best bit of advice you will ever get, and it’s only day one!

£1-3k cars are ok when they are swappers that you’ve driven and nicked from the punter. 

Trying to buy a £750 car at auction, any auction is mostly a disaster waiting to happen. Set your minimum purchase price at £1500. 

Ha this totally destroys my idea and business. Dam you my friend  ;*) 

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31 minutes ago, wow really said:

So just logged on. Knew it was a good move to finally join. Firstly thank you how ever brutal, yet truthful the replys have been. 

Secondly and I apologise if this goes on to long but I'll explain more of the idea and business. 

Ok so myself and my business partner have finally given up the rat run which was working in London. Fortunately with out sounding arrogant.  The industry we were in has allowed us to set up this new business with out the burden of worrying if it doesn't make a success and can be put down to well we tried. However money makes money. So even an investment of x thousands seems ridicules,  If the idea is workable then it's a no brainer.

The plan for the price range we were thinking was that people do want everything and more, but people also want it for nothing. By being totally frank with the motors to the customers. And saying yes the car does have a wing dented yes it does have a rip on the seat and yes left rear window electric switch plays up etc.  Then the idea in our head is people will know it's not mint but if they get 1 to 2 years and scrap it after surely it's worth buying. Even reading back 1 to 3k is steep lol. We would be working on quantity. As the land we have has access for 60 ish cars. Idea being if advertising is done properly and cars sell even a profit of as little as £150 per car at even half of them cars a week is serious money. Remember the price looking back at 1 to 3k in hindsite the sub 1000 pounds. Bracket would be more ideal

 

Anyway that's the idea please feel free to call me mad a f@@@@king what ever or maybe actually u may be on to something. 

Also the land to store and view the cars. Including working office is already owned so does not need to  be taken into account financially. Working on the cars and mot etc does need paying for if needed. But again if a local good machanic has a guarenteed flow of cars per week. Would they normally strick a deal price wise????

I know there is the 2015 sale of goods act??? Which will be needed to read and scrutinised but if the cars are sold and appraised exactly as the customer sees including all adverts etc. Is this enough. Bear in mind worst case senario car sells for 800 and for arguments sake it comes back and to repair cost 900 would it be a right off and so just pay back customer minus wear and tear ??? Again if thats ridicules then please say haha. 

 

Anyway think this sort of gives an idea. Like I said it's a business  that is there to cater for the low low market. As long as safe obviously and mot pass. Could or would it work on large quantity. Again not even going into the 1500 bracket or above. Just simple cheap run arounds that will be as disposable of a mobile phone!!!!! 

Again if you read this thank you. 

 

Cheers.

 

Ha this totally destroys my idea and business. Dam you my friend  ;*) 

You haven’t got a fucking clue. Don’t even bother. Ridiculous post.

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Have I read that right? You want to fill up a plot of land with 60 bangers and sell 30 a week?

You would struggle to sell 30 old shitters a month never mind a week. Yes there’s a market for shitters, a much bigger market than there is for Ferrari 458 Specialie’s but you’re insane if you think you can shift 30 bangers a week from a stock of 60, make a couple of hundred quid per unit and pay for all the outgoings. repairs (there will be a lot) and inevitable court cases you will end up with, shifting such volumes of shit heaps. 

Apologies if I have read that wrong but if I haven’t, it’s a terrible idea. 

Think about it. Who is going to come and buy 120 bangers a month from you? You think someone is going to travel more than an hour to buy a shitheap? 

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Dealing in scrappers to the unrealistic bottom feeders... You can almost smell the Facebook rants.

 

 

I wish you luck my friend.

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30 a week..……… ? It just isn't going to happen. Where are you sourcing a minimum of 120 a month from ? Like EPV, maybe I have misunderstood ?

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in the late 1970s earlie eighties not a problem, you would piss it, especially as youve got the land, but not nowadays, and i am sorry, but, by being brutally honest by saying theres a rip in the seat and that window doesnt work will not work when your competion is putting "mint condition" honesty is not the best policy, and it kills me to say it, please reconsider...........

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10 hours ago, Mojo121 said:

You haven’t got a fucking clue. Don’t even bother. Ridiculous post.

+1

Fill up the land with 60 old shitters and open up a Breakers yard yeah !!

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2 hours ago, Dave2302 said:

Fill up the land with 60 old shitters and open up a Breakers yard yeah !!

This is a great idea right there, if you have the land start a parts business. Online. Buy the same cars you were thinking of buying, sell some of the parts, sell the car shells to the nearest scarp yard and you have a chance to earn some money. Selling them as working, running, good soli cars: FORGET IT!!!!!!

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12 hours ago, EPV said:

Have I read that right? You want to fill up a plot of land with 60 bangers and sell 30 a week?

To be honest, loads of guys make a fortune doing this but they're less ex London-Corporate and more like your BBC Rogue Trader sorts.

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