Discussion
rick-derby- said:
This thread I find really interesting I have been asked on quite a few occasions if I would be interested in selling a car on the owners behalf and have always said no (just something I have never been involved with), How common is getting someone else to sell the car and is it something I should consider, When researching warranties I was told that this was only possible if we sold cars as well, So possibly worth considering but unknown territory for me,
I think because of your excellent reputation people would be very happy to buy cars from you Rick. You could charge an up front charge to check the car over and give it your stamp of approval and then sell it on sale or return basis. Your only extra cost is space and insurance.I would pay a premium to buy a car from you rather than privatly for peace of mind sake
Thanks for the comments really appreciated,insurance is no problem, warranties and finance packages can be sorted out, Michael good point about pre sales checks, so just got to sort out the finer details, I really do not see a reason why we can't do this, anybody think of any negatives,
as a potential aston buyer i would prefere the piece of mind of buying off someone like yourselves who after having inspected the car can let me know what needs doing and ideally put on a warranty to offer some level of protection.
if you can source good quality cars (to enforce your companies reputation and not detract from it) offer inspections and warranties then i think it's a no-brainer once you have looked into the inplications etc.
That way people buy from you and then you ratain their business on services and breakdowns. I would suggest that if you can offer warranties try to offer one with a level of breakdown / recovery etc that way people who live a distance can get their car sent to you for the repair.
My point of view is based on my porsche warranty. I live in Kent but my car has always been serviced and repaired by Cambridge Porsche. When it has broken down it's 1 phone call to porsche assistance and the car is collected and delivered to them so fairly stree free. They then call me to discuss the repair etc and can even deliver it back. I know good warranties like this cost but it's piece of mind plus takes some of the stress of a breakdown away from the owner and will add another quality string to your companies bow...
just my 2p.
if you can source good quality cars (to enforce your companies reputation and not detract from it) offer inspections and warranties then i think it's a no-brainer once you have looked into the inplications etc.
That way people buy from you and then you ratain their business on services and breakdowns. I would suggest that if you can offer warranties try to offer one with a level of breakdown / recovery etc that way people who live a distance can get their car sent to you for the repair.
My point of view is based on my porsche warranty. I live in Kent but my car has always been serviced and repaired by Cambridge Porsche. When it has broken down it's 1 phone call to porsche assistance and the car is collected and delivered to them so fairly stree free. They then call me to discuss the repair etc and can even deliver it back. I know good warranties like this cost but it's piece of mind plus takes some of the stress of a breakdown away from the owner and will add another quality string to your companies bow...
just my 2p.
rick-derby- said:
Thanks for the comments really appreciated,insurance is no problem, warranties and finance packages can be sorted out, Michael good point about pre sales checks, so just got to sort out the finer details, I really do not see a reason why we can't do this, anybody think of any negatives,
if you sell a car that has a subsequent big problem, it could damage your hard earned reputation.....but the upside could be great for you....multiple income streams from selling the car such as presales check fee
servicing prior to sale
refurbishment of wheels
valet service
advert fees
warranty
sale of car fee
rick-derby- said:
...anybody think of any negatives,
Only time...Don't underestimate how much time would be involved in preparing/presenting cars properly, showing test pilots and tyre kickers around, then dealing with the financial inputs/outputs.
Plus you'll need premises to keep/display the cars at.
Potentially a lucrative sideline, but I suspect would take a bit to set up properly and not impact your current business. But then you have to speculate to accumulate
Murph7355 said:
rick-derby- said:
...anybody think of any negatives,
Only time...Don't underestimate how much time would be involved in preparing/presenting cars properly, showing test pilots and tyre kickers around, then dealing with the financial inputs/outputs.
Plus you'll need premises to keep/display the cars at.
Potentially a lucrative sideline, but I suspect would take a bit to set up properly and not impact your current business. But then you have to speculate to accumulate
finance packages
food for thought, we are looking at more space already so no real problem with incorporating this into that equation, as for possible damage to reputation I believe it is a measure of a business is how things are dealt with when it does go wrong, so if we deal with this as we do everything else, I think we would be ok, The father in law has sold cars for many years and I have spoken to him and he would be prepared to help and having it more on an appointment basis would mean it could be relatively organised, Kay will be able to deal with the calls and I speak daily with people thinking of buying an Aston so there would be no change there really, so it seems it is viable, preparation could be scheduled into the normal workshop schedule, to set everything else up would just be a matter of a few phone calls and a bit of work on the website, so it just comes down to making the decision as to whether we start selling as well, Might have a trial run and see how it fits in with everything else,
Rick - selling and stocking your own cars or selling on behalf of ? BIG DIFF
If selling on behalf of an owner I suggest a pre sale check and a cost to prepare for sale paid for by the owner, you are then touting a car you would be pleased to sell.
If the car sells through you then you may refund the pre inspection fee as it will be recouped via commision
A prospective buyer would be pleased to see a pre sale check doc anyway
If selling on behalf of an owner I suggest a pre sale check and a cost to prepare for sale paid for by the owner, you are then touting a car you would be pleased to sell.
If the car sells through you then you may refund the pre inspection fee as it will be recouped via commision
A prospective buyer would be pleased to see a pre sale check doc anyway
Hi all
I would happily come up to Derby to let Rick and Kay have a crack at sale or return!
but def would do that basis to start with so that the relationship is still one between private seller and buyer, just with the reassurance that DMS has given the car the once over - and that would be a big one.
I was thinking of selling the V8V after a few years of ownership and then buying something else...you know the problem, so many cars, so little time. Even went to see a friend yesterday who owns a specialist car garage to discuss a sale or return option. But then.....
I took the V8V out for a very spirited drive this morning and if I ever, ever think of selling it, someone please shoot me!! The only option now is an upgrade!
Rick, I think your idea to trade on a sell or return basis, warranties, pre checks etc is excellent. Maybe we could invest some money for your new premises, working capital etc and be shareholders?!
I took the V8V out for a very spirited drive this morning and if I ever, ever think of selling it, someone please shoot me!! The only option now is an upgrade!
Rick, I think your idea to trade on a sell or return basis, warranties, pre checks etc is excellent. Maybe we could invest some money for your new premises, working capital etc and be shareholders?!
No dis-respect intended towards Rick in Derby or anybodyelse, but to answer the OPs question, I'd steer well clear of garages that only do sale or return - they're the ones that usually end up going bust. If a garage can't afford to buy your car, how can they trade or deal with the new owner's p/x; how are they going to pay you (answer - only after they've got the dosh off the new owner); and the more respectable Finance Companies are starting to credit check dealers and not lending through the iffy ones. There is a good piece on SOR on 911virgin.com or search Dream Machines in the TVR section of this website.
That's my 2p. The reason for posting is I'm after a 2006 AMV8 (ideally silver or grey). I've a wanted advert on autotrader, but not a single phone call.
That's my 2p. The reason for posting is I'm after a 2006 AMV8 (ideally silver or grey). I've a wanted advert on autotrader, but not a single phone call.
Maybe that's because you have people trying to pose as substantial upmarket car dealers. If you are not trying to be what you aren't I see no reason to link sale on behalf of owner with financial instability. It's the sort of thing for example Hartech do with Porsche and so far as I know neither his reputation nor his financial stability are in question.
What Rick can do is add value. If you are a private seller you cannot offer a credible assessment of the vehicle. You cannot offer a warranty. You cannot offer professional car preparation, and I am talking mechanical not cosmetic, and you cannot offer a sense of comfort to the non-mechanical buyer. If I were looking at a used Aston that is out of manufacturer's warranty I would want somebody like Rick to check it over and provide a report anyway which I accept is going to cost. I would not be looking for a cast iron guarantee that the car was perfect in every respect, just the reassurance that an genuine expert had been over it with a fine toothcomb and being open and honest about it, as I am sure Rick would be. Seems to make sense to me.
The era of the Arthur Daley Car Sales operation in the field of specialist cars is over, I would say, because thay are just too complex and there is too much at stake if they go wrong. People want an expert. In Aston terms, it seems to me, as an outsider, that most of the well established Aston sales people are prohiobitively pricey. Maybe there is a gap in the market.
What Rick can do is add value. If you are a private seller you cannot offer a credible assessment of the vehicle. You cannot offer a warranty. You cannot offer professional car preparation, and I am talking mechanical not cosmetic, and you cannot offer a sense of comfort to the non-mechanical buyer. If I were looking at a used Aston that is out of manufacturer's warranty I would want somebody like Rick to check it over and provide a report anyway which I accept is going to cost. I would not be looking for a cast iron guarantee that the car was perfect in every respect, just the reassurance that an genuine expert had been over it with a fine toothcomb and being open and honest about it, as I am sure Rick would be. Seems to make sense to me.
The era of the Arthur Daley Car Sales operation in the field of specialist cars is over, I would say, because thay are just too complex and there is too much at stake if they go wrong. People want an expert. In Aston terms, it seems to me, as an outsider, that most of the well established Aston sales people are prohiobitively pricey. Maybe there is a gap in the market.
TVRinBFG said:
No dis-respect intended towards Rick in Derby or anybodyelse, but to answer the OPs question, I'd steer well clear of garages that only do sale or return - they're the ones that usually end up going bust. If a garage can't afford to buy your car, how can they trade or deal with the new owner's p/x; how are they going to pay you (answer - only after they've got the dosh off the new owner); and the more respectable Finance Companies are starting to credit check dealers and not lending through the iffy ones. There is a good piece on SOR on 911virgin.com or search Dream Machines in the TVR section of this website.
That's my 2p. The reason for posting is I'm after a 2006 AMV8 (ideally silver or grey). I've a wanted advert on autotrader, but not a single phone call.
Or alternatively to turn the question round, why do dealers who own and supply new high performance marques rarely support the older models by the same manufacturers? The calculation has to incorporate the matters discussed above:That's my 2p. The reason for posting is I'm after a 2006 AMV8 (ideally silver or grey). I've a wanted advert on autotrader, but not a single phone call.
1. Working Capital requirement in holding illiquid stock (no manufacturer's stocking loans for old cars);
2. Fixed asset investment (or rental) of a secure building to store and display stock;
3. Preparation costs and sales/trading staff costs;
4. Warranty fees (but the warranties are not great. Look at the profitability of the providers of after market warranties and it suggests that they are over-priced for the risk)
4. Reputational risk of handling and selling a "lemon"
It seems that you can get a higher risk adjusted return on capital by not financing the stock yourself. There are a number of respectable brand specialists who operate largely or exclusively on SOR (Kent High Performance for Ferrari spring to mind)and very few whose business is based substantialy on buying and holding cars in stock (Bramley largely do for instance). Even the most respected participant do some SOR - RS Williams for example.
Maybe someone here knows the full picture?
Edited by f328nvl on Tuesday 15th June 13:57
I think there has been one bad instance of a PH member being stuffed when a company had his car on SoR, going bust after they had sold his car, before they paid him etc ...thats whats got everyone worried
I know a few main dealers that offer SoR for customers who want a better price than the trade price theyve been offered.....
Ive certainly no problem in selling by that method, its certainly less hassle than private and more money than trade...which is what counts to me
I know a few main dealers that offer SoR for customers who want a better price than the trade price theyve been offered.....
Ive certainly no problem in selling by that method, its certainly less hassle than private and more money than trade...which is what counts to me
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