"The end of haggling with a used-car salesman" ?
Discussion
I don't understand where these valuations for these "disruptor" companies come from
There was that other mob who did hot desking venues, worth billions allegedly before disappearing right up its own chuff a couple of weeks before stock market listing
Uber and Deliveroo have made no money, yet keep on going
Houses built on sand
There was that other mob who did hot desking venues, worth billions allegedly before disappearing right up its own chuff a couple of weeks before stock market listing
Uber and Deliveroo have made no money, yet keep on going
Houses built on sand
Unless the investors start seeing a big return on their investment within a certain time frame, one by one they will pull out demanding the initial outlay back.
It's how these other on line used car sales outfits have all started and all eventually failed.
I'm pretty sure if I had a couple of million lying around and I was assured by some dreamer that I could double it within a couple of years, by investing in a on line used car organisation, I would be running a mile in the opposite direction.
It's how these other on line used car sales outfits have all started and all eventually failed.
I'm pretty sure if I had a couple of million lying around and I was assured by some dreamer that I could double it within a couple of years, by investing in a on line used car organisation, I would be running a mile in the opposite direction.
Justin Case said:
av185 said:
Lets dream up a big round stupidly high valuation to impress everyone shall we.
$1billion lol.
Or alternatively we can look at the value of the total allotment of shares registered at Companies House in March on form SH01 (sorry I can't get the link to work)…….$1billion lol.
……… £2.41
The 'WeWork' fiasco is an interesting one to compare.
They were the second-biggest landlord in London! They would lease a building for a long term, and then rent parcels at short term. So, massively exposed.
If you want to read more about Cazoo - https://sifted.eu/articles/cazoo-unicorn/
I can see that they will need to get niche, get huge, or get out. Let's see!
They were the second-biggest landlord in London! They would lease a building for a long term, and then rent parcels at short term. So, massively exposed.
If you want to read more about Cazoo - https://sifted.eu/articles/cazoo-unicorn/
I can see that they will need to get niche, get huge, or get out. Let's see!
kevinon said:
www.cazoo.co.uk - an online used car service has become UK's faster ever 'Unicorn' - i.e. worth $1 billion.
Pro's - the actual process looks great and they really push peace of mind. They quote the Daily Mail; "The end of trekking round vehicle lots and haggling with a used-car salesman"
Con's - limited brands and poor on 'older' used cars. But beyond that I'm struggling to see too many disadvantages. I think they will make life increasingly difficult for the traditional dealerships who handle new-ish mass market cars. But I wonder how cazoo would encroach on the 'expert' or niche players. They are not the answer to my prayers at the moment.
Discuss!
Easy. Go test drive car at local dealer. Buy from carzoo and save a few tons.Pro's - the actual process looks great and they really push peace of mind. They quote the Daily Mail; "The end of trekking round vehicle lots and haggling with a used-car salesman"
Con's - limited brands and poor on 'older' used cars. But beyond that I'm struggling to see too many disadvantages. I think they will make life increasingly difficult for the traditional dealerships who handle new-ish mass market cars. But I wonder how cazoo would encroach on the 'expert' or niche players. They are not the answer to my prayers at the moment.
Discuss!
kevinon said:
www.cazoo.co.uk - an online used car service has become UK's faster ever 'Unicorn' - i.e. worth $1 billion.
Pro's - the actual process looks great and they really push peace of mind. They quote the Daily Mail; "The end of trekking round vehicle lots and haggling with a used-car salesman"
Discuss!
One of their chief backers is DMG Group. Guess which paper they own Pro's - the actual process looks great and they really push peace of mind. They quote the Daily Mail; "The end of trekking round vehicle lots and haggling with a used-car salesman"
Discuss!
. Referring back to my earlier post, I think that dealers offering a choice of buying methods have the greater chance of flourishing. I'll agree with the end of haggling though, Autotrader's ratings can work both ways.No Jamoor or Throttlebody in this thread yet? They’re slipping 
Anyway, a billion quid? Hardly.
They’re not exactly cheap (couple of cars I just checked are just over CAP retail) and they have the ability to deliver a car to a customer but a large proportion of people when buying cars want to touch and feel the car before committing.
All well and good being able to return it, but that’s after you’ve bought it/financed it (so they’ve done a credit check) taxed and insured it, and then to go through the hassle of actually getting it back to them.
Also, you can PX your car, they set the price, no haggling on their car and if you exercise the hand back, your px is gone. They’ll give you the trade money back for it though.
Is it going to kill the normal car industry? No. Will they sell some cars, yes.
Anyway, a billion quid? Hardly.
They’re not exactly cheap (couple of cars I just checked are just over CAP retail) and they have the ability to deliver a car to a customer but a large proportion of people when buying cars want to touch and feel the car before committing.
All well and good being able to return it, but that’s after you’ve bought it/financed it (so they’ve done a credit check) taxed and insured it, and then to go through the hassle of actually getting it back to them.
Also, you can PX your car, they set the price, no haggling on their car and if you exercise the hand back, your px is gone. They’ll give you the trade money back for it though.
Is it going to kill the normal car industry? No. Will they sell some cars, yes.
WonkeyDonkey said:
Anything second hand that you're parting a significant amount of money for should really be viewed, especially as most will be outside of the manufacturers warranty.
Why? If it's described fairly and accurately what's the problem? I buy loads of cars without seeing them. On balance it seems to work OK. Wooda80 said:
I work for a small independent dealer that typically carry 20 -30 cars in stock. Every month we'll have a couple of customers who deal on Cazoo terms; "I can see the description, answer me a few questions and I'll buy if you can deliver it to me". We don't ship cars 'on approval' so the cars are paid for before they leave out premises. We would be happy and are able to do all our business like this if only all the customers would be too.
Cazoo set up before the Covid lockdown but as a result of that many dealers have been actively offering 'remote' transactions which mirror Cazoo's model and have had some success.
Perhaps Cazoo's greatest influence will be on the behaviour of consumers, an increasing number of whom will be willing to buy a car without touching, feeling and fretting first.
I guess the model stands and falls on the honesty and transparency aspects, doesn't it? As long as customers believe the products will be as described when they arrive, they'll go for it. Not everybody will but, as cars move ever closer to white goods status for many I can see this being increasingly popular.Cazoo set up before the Covid lockdown but as a result of that many dealers have been actively offering 'remote' transactions which mirror Cazoo's model and have had some success.
Perhaps Cazoo's greatest influence will be on the behaviour of consumers, an increasing number of whom will be willing to buy a car without touching, feeling and fretting first.
Edited by Wooda80 on Monday 29th June 10:33
This reminds me of the recent Chris Evans interview I tuned in to halfway through - guy in London leasing loads of commercial properties and then giving small businesses the option of renting them for a really short period of time (as little as a week) for a stupidly cheap amount, to do a pop up shop type thing I guess. Seemed a sure fire way to lose money but somebody must somebody must have invested to get it going. Sorry, didn't catch the name of the company and google didn't help.
bristolracer said:
I don't understand where these valuations for these "disruptor" companies come from
There was that other mob who did hot desking venues, worth billions allegedly before disappearing right up its own chuff a couple of weeks before stock market listing
Uber and Deliveroo have made no money, yet keep on going
Houses built on sand
Amazon started the same way once, now look at it.There was that other mob who did hot desking venues, worth billions allegedly before disappearing right up its own chuff a couple of weeks before stock market listing
Uber and Deliveroo have made no money, yet keep on going
Houses built on sand
It's vulture capitalists that fund these types of businesses, they squeeze out the competition by undercutting them/tax evasion/etc until they are able to smash the competition and then they are a monopoly and raise prices -> cash in
But amazon were lucky to be quick to a new market. They offered a more efficient way to purchase everything usually at a lower price than every other retailer. Besides, Amazon's retail side is just small piece of their income compared to AWS.
Cazoo is entering an already saturated market where their only USP is that they deliver. Since coronavirus I've seen a lot more retailers offer delivery. They aren't cheaper than other places and they don't offer anywhere near the variety that Evans Halshaw or Arnold Clark do, let alone Auto trader.
There have been many of these new car marketplaces in the past, each one fails quite quick as they don't offer the ease and quantity that Autotrader does, and they don't offer the low cost of advertisement that Facebook, gumtree or eBay do.
Cazoo is entering an already saturated market where their only USP is that they deliver. Since coronavirus I've seen a lot more retailers offer delivery. They aren't cheaper than other places and they don't offer anywhere near the variety that Evans Halshaw or Arnold Clark do, let alone Auto trader.
There have been many of these new car marketplaces in the past, each one fails quite quick as they don't offer the ease and quantity that Autotrader does, and they don't offer the low cost of advertisement that Facebook, gumtree or eBay do.
Some interesting reviews in here https://uk.trustpilot.com/review/cazoo.co.uk?langu...
Andrew[MG] said:
Some interesting reviews in here https://uk.trustpilot.com/review/cazoo.co.uk?langu...
Wow - the ones that go wrong and post reviews are pretty shocking. That's about 1 a week. 1% give average, 4 % give poor or bad. 95% are excellent or great; https://uk.trustpilot.com/review/cazoo.co.uk?langu...
On balance, if I were looking for reassurance , I'd say that it is pretty reassuring.
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