New used car for sale business - how would one check the...
Discussion
New cars or used?
Tons of data on new but this is quite closely held and expensive to obtain.
If its a franchised dealer the manufacturer can give you the smmt data and composite financial data.
Used is much harder. Google search rankings will point to popularity but without a set of management accounts from a local dealer its best guess work.
Goto local auctions, look on auto trader etc.
What sells well is often more to do with the dealer than the area. I hate Nissan. No real reason, I just do. As a result we don't sell any.
Tons of data on new but this is quite closely held and expensive to obtain.
If its a franchised dealer the manufacturer can give you the smmt data and composite financial data.
Used is much harder. Google search rankings will point to popularity but without a set of management accounts from a local dealer its best guess work.
Goto local auctions, look on auto trader etc.
What sells well is often more to do with the dealer than the area. I hate Nissan. No real reason, I just do. As a result we don't sell any.
You are massively over thinking it. Regional variations are pointless as the market is massive with a massive range of types of buyers in every location.
Look at what sells new and logically they will be the most in demand when used but honestly (and I traded cars from home for a year), buy whatever has a profit in it.
A few quick pointers:
Watch out for cheap cars with very high road tax
Longer the MoT the better
Don't buy green cars
Don't buy convertibles in winter
I am sure there are loads of others but fundamentally you're only goal is to buy a car with a profit margin in it.
Look at what sells new and logically they will be the most in demand when used but honestly (and I traded cars from home for a year), buy whatever has a profit in it.
A few quick pointers:
Watch out for cheap cars with very high road tax
Longer the MoT the better
Don't buy green cars
Don't buy convertibles in winter
I am sure there are loads of others but fundamentally you're only goal is to buy a car with a profit margin in it.
vulture1 said:
Why do you not buy convertibles in winter? Surely they are cheaper then demand rises for April but prices are higher?
Because no-one buys convertibles in winter. You can buy them in winter but then you will probably hang onto them until the weather improves and that could be May! Stick with hatchbacks and SUVs. 95% of buyers want those.Frimley111R said:
vulture1 said:
Why do you not buy convertibles in winter? Surely they are cheaper then demand rises for April but prices are higher?
Because no-one buys convertibles in winter. You can buy them in winter but then you will probably hang onto them until the weather improves and that could be May! Stick with hatchbacks and SUVs. 95% of buyers want those.vulture1 said:
Frimley111R said:
vulture1 said:
Why do you not buy convertibles in winter? Surely they are cheaper then demand rises for April but prices are higher?
Because no-one buys convertibles in winter. You can buy them in winter but then you will probably hang onto them until the weather improves and that could be May! Stick with hatchbacks and SUVs. 95% of buyers want those.WHoSaidThis said:
Interesting replies. I am surprised no one has mentioned any data analytics. I am sure sites like Autotrader would provide some data insights into trends, what's hot and not etc?!
Does anyone not use any company to get meaningful data to 'drive' their business?
It's just not that complicated. You really have to look at a car, if it is in good condition with the right body style, colour and spec and you can buy it cheap enough then you just have to go for it. It doesn't really matter what the car is, it just has to have the right margin in it.Does anyone not use any company to get meaningful data to 'drive' their business?
If you are thinking rather than doing its not the business or job for you.
The stuff that sells is the stuff you buy right with good money in.
I can give you a ton of data for cars that sell. What sells for me doesn't sell for my mate I trade all my px's to. He sells 30/40 cars a month of a very different profile.
I can tell you right now SVR's with exposed carbon bonnets and top spec fly out but then they fly out from me with 100s of 5 star reviews an established reputation and low rate finance offerings. Would that be the same for someone with no reviews, fixed finance at 12.9% APR and trading from his drive?
Autotrader have loads of data. A lot of the cars they consider undesirable sell like hot cakes here. The desirable stuff I can't get rid of for love nor money.
Its a complex business and one with a potential for good returns but I truly stand on the fact that its all consuming and needs full attention 80/100 hours a week and need to eat, breathe and sleep it for a few years to get anywhere. Anyone that doesn't does not tend to last. I've seen them come and seen them go.
The stuff that sells is the stuff you buy right with good money in.
I can give you a ton of data for cars that sell. What sells for me doesn't sell for my mate I trade all my px's to. He sells 30/40 cars a month of a very different profile.
I can tell you right now SVR's with exposed carbon bonnets and top spec fly out but then they fly out from me with 100s of 5 star reviews an established reputation and low rate finance offerings. Would that be the same for someone with no reviews, fixed finance at 12.9% APR and trading from his drive?
Autotrader have loads of data. A lot of the cars they consider undesirable sell like hot cakes here. The desirable stuff I can't get rid of for love nor money.
Its a complex business and one with a potential for good returns but I truly stand on the fact that its all consuming and needs full attention 80/100 hours a week and need to eat, breathe and sleep it for a few years to get anywhere. Anyone that doesn't does not tend to last. I've seen them come and seen them go.
JimmyConwayNW said:
If you are thinking rather than doing its not the business or job for you.
The stuff that sells is the stuff you buy right with good money in.
I can give you a ton of data for cars that sell. What sells for me doesn't sell for my mate I trade all my px's to. He sells 30/40 cars a month of a very different profile.
I can tell you right now SVR's with exposed carbon bonnets and top spec fly out but then they fly out from me with 100s of 5 star reviews an established reputation and low rate finance offerings. Would that be the same for someone with no reviews, fixed finance at 12.9% APR and trading from his drive?
Autotrader have loads of data. A lot of the cars they consider undesirable sell like hot cakes here. The desirable stuff I can't get rid of for love nor money.
Its a complex business and one with a potential for good returns but I truly stand on the fact that its all consuming and needs full attention 80/100 hours a week and need to eat, breathe and sleep it for a few years to get anywhere. Anyone that doesn't does not tend to last. I've seen them come and seen them go.
All of this!The stuff that sells is the stuff you buy right with good money in.
I can give you a ton of data for cars that sell. What sells for me doesn't sell for my mate I trade all my px's to. He sells 30/40 cars a month of a very different profile.
I can tell you right now SVR's with exposed carbon bonnets and top spec fly out but then they fly out from me with 100s of 5 star reviews an established reputation and low rate finance offerings. Would that be the same for someone with no reviews, fixed finance at 12.9% APR and trading from his drive?
Autotrader have loads of data. A lot of the cars they consider undesirable sell like hot cakes here. The desirable stuff I can't get rid of for love nor money.
Its a complex business and one with a potential for good returns but I truly stand on the fact that its all consuming and needs full attention 80/100 hours a week and need to eat, breathe and sleep it for a few years to get anywhere. Anyone that doesn't does not tend to last. I've seen them come and seen them go.
You'll also need to develop a thick skin and learn that not every deal is a good one. More good than bad is the trick.
I've done this for over 20 years and still learn something new most days. Sometimes I learn cheap lessons, other times not so much.
1000 Miglia said:
Frimley111R said:
Because no-one buys convertibles in winter. .
Bought mine on December the 1st , don't remember the first date I went top down but it was well before summer .WHoSaidThis said:
Interesting replies. I am surprised no one has mentioned any data analytics. I am sure sites like Autotrader would provide some data insights into trends, what's hot and not etc?!
Does anyone not use any company to get meaningful data to 'drive' their business?
They do, not that it means much. This Merc has been in stock for over 150 days:Does anyone not use any company to get meaningful data to 'drive' their business?
Where as this Porsche sold in 7
Having said that there is an insane amount of useful analytics data on Autotrader, you just have to pay through the nose for it.
jjr1 said:
Fascinating thread. I know Autotrader want a small business to sign up to a £750 analytics package that tells you what cars to buy in your area.
How that will help if everyone does in that area I don't know!
It's utterly a waste of time. Let's assume it says everyone wants 3 Series BMWs, traders go out and buy them and then there s a glut of them which pushes prices down.How that will help if everyone does in that area I don't know!
It's all about the profit margin, the car is irrelevant.
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