James Baggott

Wheeler Dealer's Mike Brewer on Car Dealer Live today

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2 hours ago, James Baggott said:

Not sure. They have gone very quiet on us. I am trying to find a contact to talk to

Are you secretly an estate agent, using one of the "locked-down" show apartments pretending to be a journalist? :lol:

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Posted (edited)
1 hour ago, poor-trader said:

Reference the comment on CAP and Glasses. It is a bit of a two-way thing, there is no doubt a drop in the guides makes buyers more cautious over what they pay but, yes, ultimately the market will decide. The bigger issue though is that banks, finance companies, stocking loans etc. use these guides to value stock held by a dealer. If 10-15% gets taken off the values then they depreciate that sock value by the same amount and businesses who had a positive balance sheet on Friday have a negative one on Monday. That makes banks nervous about overdrafts, makes it more difficult to borrow and makes stocking companies very worried.

 

As a famous lady Prime Minister once said, 'You can't buck the market'.  Dealers and banks etc only pay for CAP services because they are seen as the most accurate and reliable window into what's happening in the market. If they allow industry lobbying to influence their published valuations,  then their reputation will collapse and people stop paying for their service.  That's why Mike Brewer suggesting that CAP, Glasses 'support the market' is ridiculous.

He states....

‘We need a very gentle way into this because I simply can’t have that amount of money knocked off my stock value. My business will collapse, it’s as simple as that. ‘That means there will be over 100 people out of work immediately because a guide comes out and dictates what the motor trade should be doing.’

Well, Mike, the guide doesn't 'dictate what the motor trade should be doing', the market does. And if 'Crazy Joe's Motors' down the road are selling £1000 cheaper than me then I have to respond in some way.

Edited by Halfpenny

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9 hours ago, Nevillec said:

welcome  Ben,   from other  recently joined newbie.   I agree it is a very informative site.  Good work James

Thanks for the welcome!

4 hours ago, Casper said:

You find in life that most people are genuine good people if you treat others how you like to be treated . Reminds me off being in a small local pub years ago and got chatting with a guy and his fiancée who had been in few times bought a round of drinks etc a friend of mine was also in the pub and didn't get along with the guy he was this that and the other and they had had previous arguments and why you talking to that guy he's this and that .anyway turns out the guy I mentioned that I met with his fiancee was to quote @James Baggottone of the most genuine lovely person you could ever meet that was about 10 years ago and the guy has never passed me in the street since always stops for a 5 minute chat etc if I meet him at that shop or supermarket 

however the other friend who was putting him down has long since shown his true colours and I never heard a peep from him in years . Even when I went through a spell of ill health  

Casper you also sound like a really genuine and warm person!! 

3 hours ago, poor-trader said:

Reference the comment on CAP and Glasses. It is a bit of a two-way thing, there is no doubt a drop in the guides makes buyers more cautious over what they pay but, yes, ultimately the market will decide. The bigger issue though is that banks, finance companies, stocking loans etc. use these guides to value stock held by a dealer. If 10-15% gets taken off the values then they depreciate that sock value by the same amount and businesses who had a positive balance sheet on Friday have a negative one on Monday. That makes banks nervous about overdrafts, makes it more difficult to borrow and makes stocking companies very worried.

If you're a bank sitting on a stock loan book of £1bn, or a leasing company expecting 30,000 end of lease cars back in the next 6 months seeing 15% taken off the value of it all overnight in terms of book price is not good news. Of course what ultimately matters is what they actually realise in terms of cash but short term it makes the financials look suspect.

 

I also wonder if the CAP and Glasses guides will both take a similar view of the new market that we will find ourselves in. They have both been starved of so much market data and it will be interesting to see how they both call it.

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2 hours ago, Bmx Bandits said:

Thanks for the welcome!

Casper you also sound like a really genuine and warm person!! 

I also wonder if the CAP and Glasses guides will both take a similar view of the new market that we will find ourselves in. They have both been starved of so much market data and it will be interesting to see how they both call it.

Thank you . Hope you and your family well 

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54 minutes ago, Casper said:

Thank you . Hope you and your family well 

We’ve had quite a time of it to be honest, my poor mother-in law felt poorly while having cancer treatment and was tested for Coronavirus, long story short she tested positive, was kept in insolation and then a Coronavirus ward for 2 weeks. She was ones of the lucky ones and survived, having said that even now she still gets breathless at times and struggles to walk far. I can’t explain how hard it was for my wife as there is nothing she could do to help and was almost impossible to get information/updates from the hospital staff. I was glad to have the kids around to keep me busy.

I hope that you and your family are all well and surviving this terrible time. 

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Posted (edited)
6 minutes ago, Bmx Bandits said:

We’ve had quite a time of it to be honest, my poor mother-in law felt poorly while having cancer treatment and was tested for Coronavirus, long story short she tested positive, was kept in insolation and then a Coronavirus ward for 2 weeks. She was ones of the lucky ones and survived, having said that even now she still gets breathless at times and struggles to walk far. I can’t explain how hard it was for my wife as there is nothing she could do to help and was almost impossible to get information/updates from the hospital staff. I was glad to have the kids around to keep me busy.

I hope that you and your family are all well and surviving this terrible time. 

We are getting ther my dad has Alzheimer's and dementia knows there something going on with the virus but not just how serious it off and there in there 70 s so mum although in good health is worried by it 

can only imagine how hard it was for your wife. Going through that it hard enough for me not been able to visit relatives and friends 

Edited by Casper

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17 minutes ago, Casper said:

We are getting ther my dad has Alzheimer's and dementia knows there something going on with the virus but not just how serious it off and there in there 70 s so mum although in good health is worried by it 

can only imagine how hard it was for your wife. Going through that it hard enough for me not been able to visit relatives and friends 

Both my parents are in their mid 70’s and I worry, Alzheimer’s and dementia adds a whole extra level!! You do really well, and always sound so positive on here. It must be so hard for everyone especially you and your mum.

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Posted (edited)
9 minutes ago, Bmx Bandits said:

Both my parents are in their mid 70’s and I worry, Alzheimer’s and dementia adds a whole extra level!! You do really well, and always sound so positive on here. It must be so hard for everyone especially you and your mum.

My sister helps out and I've a brother and his wife stays with my parents which helps 

Edited by Casper

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2 minutes ago, Casper said:

My sister helps out and I've a brother and his wife stays with my parents which helps 

That so good to hear, it must really help having your brother and his wife staying with your parents! 

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