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BCA partner finance cars

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Sorry to sound an idiot here, it's not my area of expertise, but I noticed a car entered from 'BCA partner finance' in a upcoming sale. Does BCAPF actually purchase and own the cars? Why would a BCAPF car be back at auction? I thought BCAPF offered stocking loans?

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Repo from a dealer who defaulted would be my guess.

Same as manhiem they sometimes list nextgear vehicles.  

Edited by justina3

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2 minutes ago, justina3 said:

Repo from a dealer who defaulted would be my guess.

Same as manhiem they sometimes list nextgear vehicles.  

so BCAPF exists as a auction vendor in its own right?

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Yes just like most other finance companies. The cars should actually be in much better shape than the average finance repo. Someone just did the prep, just couldn’t sell the thing quickly enough. 

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2 minutes ago, Nick M.K. said:

Yes just like most other finance companies. The cars should actually be in much better shape than the average finance repo. Someone just did the prep, just couldn’t sell the thing quickly enough. 

OK, so not a 'dud'?

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In theory they should be retail-ready or almost ready cars that have been sitting on forecourts for a while before being repoed and shipped to BCA. 

Who knows what they are really like though, some dealers prep a lot, some prep sweet *uck all. 

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I would want to see it first, see a local dealer to me get handed a 30k stocking loan the fool went straight out changed his stock portfolio run out of money trying to prep them bought cars he didn’t understand and lost the lot with 3 months, that stock was a pile of junk overpriced serious faults ect but it all got sold on. 

 

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I always assumed they were p/x’s taken in or lemons bought by dealers with stocking loans and sold back through bca? As I’ve seen some right nails within that section.

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Exactly what I thought when I've looked through the section at Paddock Wood, looks like a load of knocked about p-ex's with problems, the partner finance dealers don't dare attempt to retail.

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So is that part of the deal? If you buy using bcapf and when you get it home its a lemon, it gets pushed back through bca as a bcapf car as opposed to a 'general sale' car. 

I guess im surprised bca use bcapf as a vendor name to peddle crap when they already have ukcgr? 

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10 hours ago, justina3 said:

I would want to see it first, see a local dealer to me get handed a 30k stocking loan the fool went straight out changed his stock portfolio run out of money trying to prep them bought cars he didn’t understand and lost the lot with 3 months, that stock was a pile of junk overpriced serious faults ect but it all got sold on. 

 

Common problem changing the stock. I don't see whats wrong with just stocking more of what you know and growing that way. Used to your advantage stock funding can be a great tool. 

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I think what the guys are saying is that dealers will load their own part exes to the Partner finance system, then they get repoed with the retail stock when the time limit passes without payment. I’ve never seen the stock and have no idea what they are like.

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IMO this is the worst section BCA offer, far worse than UKCG.  I was talking to the Auctioneer one day prior to starting the sale and asked where the stuff comes from, he said all over.

It is clearly a mix of overage repo stock funded cars and rough PX's (again IMO) - I think it is just a section for their funded partners, whether the car is funded or not - perhaps an incentive to use Partner Finance.  As a Partner account, we will give you access to sell under this Partner Finance section instead of General?

I have bought a few and they all require a shed load of recon.  I avoid the section completely now.

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13 hours ago, Lakeside said:

I always assumed they were p/x’s taken in or lemons bought by dealers with stocking loans and sold back through bca? As I’ve seen some right nails within that section.

This

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4 hours ago, Mark101 said:

IMO this is the worst section BCA offer, far worse than UKCG. 

Surely can’t be worse than multi vendor?

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2 minutes ago, Lakeside said:

Surely can’t be worse than multi vendor?

Sorry Lakeside, that goes without saying - I let the privates fill their boots with that lot.

I do buy from UKCG Trade, Select and Premium though and 9/10 been very happy.

PF I have bought 3 times and all 3 needed some serious wedge.

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27 minutes ago, Mark101 said:

Sorry Lakeside, that goes without saying - I let the privates fill their boots with that lot.

I do buy from UKCG Trade, Select and Premium though and 9/10 been very happy.

PF I have bought 3 times and all 3 needed some serious wedge.

A dealer going out of business probably ain't a dealer spending wedge on prep or doing thejob right IMO.

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Only ever had 2 cars off this vendor and not much needed doing apart from a clean. I know understand why

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7 hours ago, Mark101 said:

IMO this is the worst section BCA offer,

Never seen a Moneybarn sale?  Some of them do look like barn finds...

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22 minutes ago, Nick M.K. said:

Never seen a Moneybarn sale?  Some of them do look like barn finds...

Worse than that Nick - I have watched a Moneybarn sale many times at Walsall BCA.

Every bonnet on Moneybarn cars seem to have been painted.....with a stick

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2 hours ago, Nick M.K. said:

Never seen a Moneybarn sale?  Some of them do look like barn finds...

See them all the time at Leeds but my word you have got to be very careful but some bargains to be had 

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10 hours ago, Lakeside said:

Who is Moneybarn? Finance repo’s? Logbook loans?

Finance house 

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Deep subprime finance. If they work and have an income of over £1000 per month  Moneybarn will lend. Don’t ask at what APR though...

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Some of those Nextgear and BCA PF cars are a real insight into how other dealers operate. I originally thought that they maybe a good source of stock as in theory some will have been dealer prepared - a quick Google revealed some of them previously advertised on forecourts. Having looked at the cars though, several needed a lot of obvious work and had bald tyres and no MoTs. It seems mad to me that some dealers don't do any prep until the car is sold! Quite a few must risk going on test drives without MoTs.

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