Possible new business idea - would you pay for this?
Discussion
Been thinking about a possible new business idea and wanted some honest feedback.
I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
JeantheMalteser said:
Been thinking about a possible new business idea and wanted some honest feedback.
I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
There might be a gap in the market, but is there a market in the gap?I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
How many people really want that? How much is it going to cost you in advertising to ensure they know?
What happens when you get it wrong and someone has put ££,£££s to £££,£££s of their hard earned in to a car on the basis of it?
How much of what you're saying can be covered off by using something like vcheck for a few ££s and ringing the dealers where the car was serviced previously? ie, if someone can do that at the click of a button and with a phone call or two, what is your value add above that?
JeantheMalteser said:
Been thinking about a possible new business idea and wanted some honest feedback.
I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
Indemnity insurance would be my first thought - if you drop a clanger on a £80k vehicle then who is paying the compensation? At least HPI and the others have the brand presence and will be underwritten. I also doubt if you start banging the phones to validate service history then you’re likely to be sent on your way as you’re not their customer - GDPR as an example. I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
As asked - why would a consumer choose your offering above someone like HPI?
I think there is minimal requirements for something like this.
On most modern cars the service history is largely electronic and can be checked online.
Regarding the V5, most folks know that the safe way to transfer ownership is online. God only knows why the DVLA only allow this to be done between 7am and 7pm. If they made this 24hrs, then it could almost eliminate fraud of this nature.
On most modern cars the service history is largely electronic and can be checked online.
Regarding the V5, most folks know that the safe way to transfer ownership is online. God only knows why the DVLA only allow this to be done between 7am and 7pm. If they made this 24hrs, then it could almost eliminate fraud of this nature.
cashmax said:
I think there is minimal requirements for something like this.
On most modern cars the service history is largely electronic and can be checked online.
Regarding the V5, most folks know that the safe way to transfer ownership is online. God only knows why the DVLA only allow this to be done between 7am and 7pm. If they made this 24hrs, then it could almost eliminate fraud of this nature.
This.On most modern cars the service history is largely electronic and can be checked online.
Regarding the V5, most folks know that the safe way to transfer ownership is online. God only knows why the DVLA only allow this to be done between 7am and 7pm. If they made this 24hrs, then it could almost eliminate fraud of this nature.
I was going to post some of the negatives listed above including you getting it wrong and providing a false positive (as in you approve something that turns out was incorrect).
Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
This question looks remarkably simialir to this one:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
And I sure the fact that the OP joined PH on the same day as their initial post (on both threads) is completely coincidental.
https://www.pistonheads.com/gassing/topic.asp?h=0&...
And I sure the fact that the OP joined PH on the same day as their initial post (on both threads) is completely coincidental.
Edited by snuffy on Monday 25th August 11:47
Hoofy said:
I was going to post some of the negatives listed above including you getting it wrong and providing a false positive (as in you approve something that turns out was incorrect).
Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
That's a really interesting way of framing the problem, definetely food for thought!Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
Several years ago I received a letter about a previously owned car. It was asking me to complete a form about the dates I'd owned it, mileage or whatever. It said it was to assist in its purchase for someone.
It was clear to me that this company was providing a car checking service for which they were of course charging their client. Ie they were selling information.
But, they seemed to think I would be happy to provide them with information for free (and then take that free information and sell it on).
I wrote back and said there would be a £50 admin fee for me to complete their request, and asked how they would like to proceed.
Oddly, I never heard again.
It was clear to me that this company was providing a car checking service for which they were of course charging their client. Ie they were selling information.
But, they seemed to think I would be happy to provide them with information for free (and then take that free information and sell it on).
I wrote back and said there would be a £50 admin fee for me to complete their request, and asked how they would like to proceed.
Oddly, I never heard again.
snuffy said:
Several years ago I received a letter about a previously owned car. It was asking me to complete a form about the dates I'd owned it, mileage or whatever. It said it was to assist in its purchase for someone.
It was clear to me that this company was providing a car checking service for which they were of course charging their client. Ie they were selling information.
But, they seemed to think I would be happy to provide them with information for free (and then take that free information and sell it on).
I wrote back and said there would be a £50 admin fee for me to complete their request, and asked how they would like to proceed.
Oddly, I never heard again.
That's a brilliant reply! Interesting to hear this perspective, and also somewhat unsurprising, other people have had this idea in the pastIt was clear to me that this company was providing a car checking service for which they were of course charging their client. Ie they were selling information.
But, they seemed to think I would be happy to provide them with information for free (and then take that free information and sell it on).
I wrote back and said there would be a £50 admin fee for me to complete their request, and asked how they would like to proceed.
Oddly, I never heard again.
snuffy said:
This question looks remarkably simialir to this one:
https://www.pistonheads.com/gassing/topic.asp?h=0&...
And I sure the fact that the OP joined PH on the same day as their initial post (on both threads) is completely coincidental.
Interesting that this is the only bit they've not replied to. https://www.pistonheads.com/gassing/topic.asp?h=0&...
And I sure the fact that the OP joined PH on the same day as their initial post (on both threads) is completely coincidental.
Edited by snuffy on Monday 25th August 11:47
And to answer the original question; terrible idea, ill thought-through, with minimal gains and absolutely gigantic pitalls.
Hoofy said:
I was going to post some of the negatives listed above including you getting it wrong and providing a false positive (as in you approve something that turns out was incorrect).
Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
Most marque car clubs offer some sort of registry.Turning it on its side (because maybe not on its head) - what about a registry (maybe you specialise in high end cars) where owners pay to have their car history registered/verified and then potential buyers can access this registry at low/no cost? I guess it's like a Checkatrade for performance cars.
I've mentioned before...
I'd pay for a service whereby a car I'm interested in, but is a complete PITA to view because of its location, is inspected by an independent expert local to the car so I can move straight to buying it if it all checks out OK and, therefore, only have to make one trip... or better still, home delivery can be added if I decide I want to buy. That wouldn't be a one-man business though, it would require a nationwide network of suitable qualified "inspectors".
Also, I'd pay for a list of cars of a certain make or model with certain specifications. For example, I want an F32 BMW 440i Coupé in Snapper Rocks Blue, 69 plate or later. I have some "must have" options and some "desirable" options. I guess BMW UK must know what was ordered and registered within the scope of what I'm looking for but how to get my hands on that info? Essentially I'd just like to know how many exist so I know if it's worth holding out for one to come up for sale.
I'd pay for a service whereby a car I'm interested in, but is a complete PITA to view because of its location, is inspected by an independent expert local to the car so I can move straight to buying it if it all checks out OK and, therefore, only have to make one trip... or better still, home delivery can be added if I decide I want to buy. That wouldn't be a one-man business though, it would require a nationwide network of suitable qualified "inspectors".
Also, I'd pay for a list of cars of a certain make or model with certain specifications. For example, I want an F32 BMW 440i Coupé in Snapper Rocks Blue, 69 plate or later. I have some "must have" options and some "desirable" options. I guess BMW UK must know what was ordered and registered within the scope of what I'm looking for but how to get my hands on that info? Essentially I'd just like to know how many exist so I know if it's worth holding out for one to come up for sale.
Edited by MitchT on Monday 25th August 12:48
JeantheMalteser said:
Been thinking about a possible new business idea and wanted some honest feedback.
I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
OP - apart from the service checks (and tbh I always take FDSH with a pinch of salt) what are you offering that HPI / AA vehicle check doesn't?I’m looking at used cars in the £50k+ range myself, and while doing the usual research it surprised me how many stories there are of fake V5Cs or forged service stamps slipping through. Even with HPI/DVLA checks, it feels like there’s still a weak spot.
The idea: a fixed-fee check where someone properly verifies the paperwork - confirming the V5C serial/watermarks, phoning garages to check invoices/stamps, and pulling it into a simple “all clear” or “red flag” report.
Do you think buyers would actually pay for that kind of peace of mind? And if so, what feels fair - £80, £150, £200+? Or is this one of those risks people just accept and roll the dice on?
Appreciate any blunt thoughts - gap in the market or daft idea?
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