NacMan

Selling with finance

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I have decided not to sell with finance due to personal beliefs and hoping for cash sales, I can become fca approved but choose not too, would you say id struggle to sell vehicles without finance or do cash sales come along often? My most expensive vehicle is £30000 and cheapest £4000.

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57 minutes ago, NacMan said:

I have decided not to sell with finance due to personal beliefs and hoping for cash sales, I can become fca approved but choose not too, would you say id struggle to sell vehicles without finance or do cash sales come along often? My most expensive vehicle is £30000 and cheapest £4000.

There was a similar discussions in the Audi wont sell thread . I think it would hard to sell a 30 k car without offering finance maybe up to 5k you would be ok .. 

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3 hours ago, NacMan said:

I have decided not to sell with finance due to personal beliefs and hoping for cash sales, I can become fca approved but choose not too, would you say id struggle to sell vehicles without finance or do cash sales come along often? My most expensive vehicle is £30000 and cheapest £4000.

Why dont you choose to?

Why do you want cash only?

Scenario:

You got a V50 for sale at £6k and Joe Bloggs can buy it out no worries.

Then you got an A4 estate at £14k a red one that has had a little interest in 9 weeks. 

Joe Bloggs says "i can only afford £6k if finance was available I would love that A4". In fact he leaves and wants an A4.

In another instance you got the A4 for sale and and Mr Cash can afford to buy it. However he sees you got another motor he fancies more at £7k.

Do you see the issue?

You got one man that can afford upto £14k another one is limited but can afford monthly repayments.

Like some others have said having finance can be the deal breaker.

PS some people buy stuff on finance so they can build their credit history :ph34r:

Edited by TangoVictor32

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I think you have to be very niche not to offer finance and stock a particular type of vehicle with a limited market.

If you have mainstream stock appealing to mainstream customers by not offering finance you have probably ruled out the majority of your potential customers.

Examples.

Land Rover Discovery Sport Black Edition in Black 66 plate average miles costing 25K - will mainly appeal to a younger buyer and customer has dozens to choose from and many finance deals on offer.

Range Rover Sport HSE  in Aintree Green, Brown Leather very low miles on a 14 plate costing 28k. If such a car exists, it will probably be the only one in the country for sale and will have limited appeal mainly to a mature audience who probably won't want finance.

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I think as others say it would depend on your stock profile but ultimately you’ll make a decision based on how much business you think you’re losing.

Start without and see how long it takes before the thought starts niggling.

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Some religions don’t believe in benefiting from lending money.

If that is the case would it be acceptable to either put it through at the lowest rate your provider allows and don’t earn any commission or get the provider to donate any commission to a charity of your choice.

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17 hours ago, NacMan said:

I have decided not to sell with finance due to personal beliefs and hoping for cash sales,

Best thing is to modify your stock then so as not to appeal to finance customers , They wont understand or care two hoots about your beliefs , they will move onto a dealer who does offer what they want . , Harsh but true I'm afraid . 

Just remember they are all borrowing money to buy your cars anyway , Bank , Supermkt loans , Hardly anyone now has the cash in their pockets , so its borrowed money rules for most people . 

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On 8/28/2019 at 1:27 PM, David Horgan said:

 

Just remember they are all borrowing money to buy your cars anyway , Bank , Supermkt loans , Hardly anyone now has the cash in their pockets , so its borrowed money rules for most people . 

Old milfs, gilfs and grandads are loaded and will only buy cash.

The spoilt brats of the above may be given a handout too

Everyone else falls into "lend us a tenner" group :lol:

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1 hour ago, TangoVictor32 said:

Old milfs, gilfs and grandads are loaded and will only buy cash.

The spoilt brats of the above may be given a handout too

Everyone else falls into "lend us a tenner" group :lol:

Also those with Rds rich daddy syndrome .. 

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9 hours ago, Casper said:

Also those with Rds rich daddy syndrome .. 

We've had a few of those types Casper 

One particular girl who had  been bought a 1yr old C1 by her Grandad was apparentley  the wrong colour for her , Being a dark grey with red trim and only 16,000 miles i felt i had to agree with her really , She wanted a white car and our sticky 4yr old 40,000 mile 1 litre white Corsa was sat winking at her in its white gleaming coat  :)

So she was offered a few shillings for her C1 as it looked so bad in Grey and red with Sat Nav , blue tooth , Air con and took the Corsa , Said "daddy I'm having this one so go and pay for it"

No please thankyou :o He just curled up and said she is spoilt :lol:

Spoilt, my god if she was mine she'd be working in a salt mine now learning about life  .

 

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On ‎8‎/‎27‎/‎2019 at 11:57 PM, TangoVictor32 said:

Why dont you choose to?

Why do you want cash only?

Scenario:

You got a V50 for sale at £6k and Joe Bloggs can buy it out no worries.

Then you got an A4 estate at £14k a red one that has had a little interest in 9 weeks. 

Joe Bloggs says "i can only afford £6k if finance was available I would love that A4". In fact he leaves and wants an A4.

In another instance you got the A4 for sale and and Mr Cash can afford to buy it. However he sees you got another motor he fancies more at £7k.

Do you see the issue?

You got one man that can afford upto £14k another one is limited but can afford monthly repayments.

Like some others have said having finance can be the deal breaker.

PS some people buy stuff on finance so they can build their credit history :ph34r:

Yes but finance I hate the banks bloody hate them, the rich get richer and the poor poorer, its also against my religious beliefs to use interest or have anything to do with it.

On ‎8‎/‎28‎/‎2019 at 1:27 PM, David Horgan said:

Best thing is to modify your stock then so as not to appeal to finance customers , They wont understand or care two hoots about your beliefs , they will move onto a dealer who does offer what they want . , Harsh but true I'm afraid . 

Just remember they are all borrowing money to buy your cars anyway , Bank , Supermkt loans , Hardly anyone now has the cash in their pockets , so its borrowed money rules for most people . 

Would you not say they could get personal loans without me having anything to do with it?

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There certain banks and lenders that can help you out i believe, its called "Murabaha" where the lender buys the product and then sells it to the customer at a price above what was originally paid.

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1 hour ago, Tadams said:

There certain banks and lenders that can help you out i believe, its called "Murabaha" where the lender buys the product and then sells it to the customer at a price above what was originally paid.

Do you know any banks that do this?

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