So...I won't be buying and selling cars
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- Опубліковано 19 кві 2022
- So...I won't be buying and selling cars, this is a sad one for me.
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I think the video says it all but I'm pretty gutted about it but I'll put this one down to experience, selling used cars is just not for me. I don't have the skills or time to make flipping cars a realistic living whilst trying to also do 2 other things. I was an idiot to think I could do it I guess but you live and learn.
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This channel tries to deliver honest advice for real people. Remember that I am not a financial advisor or car finance professional and am therefore not qualified to give any kind of financial advice, views shown here are purely my own but you must make your own financial decisions. Always seek professional advice before entering a finance arrangement of any kind and seriously consider your financial position and the long-term affordability of any deal that you may enter into.
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Appreciate the honesty - sounds like a good experience. Live & learn, that’s what it’s all about! On to the next big thing!
Exactly mate 👍
Well done for being so honest about the UA-cam and car flipping business side of things. Knowing when to cut and run is a difficult thing and that in itself is probably one of the hardest things to do.
So chin up! You’re brave and bold to try a few things to give yourself an income and I for one think that’s admirable. Put it behind you, it’s brown water under the bridge of life.
Thanks, and in my case it’s chins up 😁👍
You’re as honest as the day is long, hope your new venture takes off, you deserve to succeed.
Cheers Shaun 👍👍👍
It's great to see a you tube video that doesn't make everything look easy.I definitely think you have made the right decision. Even if you put everything into making the car the best it can be there's always that risk that something major will go wrong and you're then left with a dissatisfied customer. Looking forward to your future videos and keep up the good work.
Thanks for the support Mike, appreciate it 👍👍👍
Very transparent video and I'm sure resonates with a few of us! How about looking at some more interesting cars that you might keep for 3-6 months one at a time before moving on? E.g. £3k MX-5, buying video, a few videos addressing issues, a video reviewing the car and then move it on (possibly to a subscriber). I don't think you could expect to make a fortune on them unless you buy very well but it would make good content and you'd have confidence in the cars having run around in them for 3-6 months.
Thanks Tim, it all comes down to time really but that’s an idea I was initially toying with. Maybe one for the future.
Thanks for updating us and sorry to hear it didn’t work out for you.
Thanks mate 👍
Many Thanks for your honesty!! Wishing you all the best, Peace From London. 🙏
Cheers Mick, up the toffees 💙
That’s a shame Jim, but credit to you that you tried and learned a lot from the experience 👍 This might explain why many motor dealers lack a conscience 🤔… it’s a necessity!
I’ve been watching your business channel, and it’s good 👍. Your current experiences being newly self employed, and with the car sales idea going south will also help with your content: keeping it real, and showing how you learn from your mistakes.
I was self employed for nearly a decade, and I learnt a tonne about myself: much of it not good 😆!
Haha, thanks HB 🙏🙏🙏🙏🙏
I'm not even into cars but I'm looking for the 1st time in over 10 years as my trusty firsta has finally give up. I've found your videos informative and interesting, keep up the good work mate👍
Thanks a lot mate 👍👍👍
Jim, don't give up! Lesson learned I think :) You still got 13.4k subs clearly you're doing something good. Keep up the good work mate
Matteo, thank you very much buddy. Yep, lesson learned, it’s not for me.
dont worry Jim I appreciate your warm and honest approach to your videos even Richard Branson had bad days !
dont give up Jim you know it will work out in the end how about doing a overview on an old classic car of your choice each week another video on your career up to know and what your future ambitions are just a couple of ideas anyway dont be so disheartened you are an inspiration my friend 😊
Thanks very much Roger, keep the ideas coming 👍🙏
I’m looking forward to seeing your press cars. Thanks for keeping it real.
Cheers bungle, quite a few reviews on here already but plenty more to come 👍
Disappointed to hear that ,was looking forward to the ups and downs of flipping cars it’s not as easy as people think costs can escalate pretty quick ,you were unlucky with the gearbox as I think the Fiesta/Focus are dry clutch and Mondeo are wet and a bit more reliable,they don’t use them at all now I don’t think….👍
Yeah they’ve binned them now, I think the car was mechanically sound in fairness but I trouble sleeping as it is. The time was the major factor for me, it took me away from my bread and butter too much. You live and learn 👍
Sorry to hear it didn't pan out, the choice of the first car was unfortunate - ecoboom with powersh17 - but then again you'd need to do a fair volume to be able to balance things out in the long run, profit-wise.
I know what you mean but went in with open eyes, it was a car that I bought for £3000 under retail and £1200 less than trade so a good gamble regardless. Problem was availability of trades and my lack of skill with the bodywork etc. it was just a bad use of my time and I’m the sort that would always be worried about cars coming back. Thanks for watching 👍
You say it's a failure, but you've learned something, but it would have made a great you tube series... From buying the car at auction or online and improving , through to the final sale .. might be worth another try .. keep your chin up dude! I love your videos and honesty 👊🏼
Thanks Paul, with unlimited time and resources it would have been great but both of those factors are an issue for me right now. Thanks for the support buddy 👍
You gave it a go mate and your honesty is admirable. Wish you luck with your future ventures
Thanks Simon 🙏👍
I don’t think you should give up after one negative because you will get the hang of things and find your way and the cars you buy should always be cheap cars like 107’s C1’s very simple cars and fast sellers too. Not much go wrong with them.
I just didn't have my heart in it to be honest mate. I've got an old Audi TT that I'm making some content with so will sell that when I'm finished, will break even on it just about.
Although I understand completely that recording the process of restoring the focus for UA-cam content would have increased the overall time involved, I can't help but feel that would have helped with your UA-cam views by bringing in a new audience. Also you'd have made a bit more money due to YT revenue. We live and we learn, and I look forward to your next video. I'm currently in the market for a new lease car so your videos are dead valuable to me 👍
Thing is mate, UA-cam in a month pays what I can earn in a day with my other business and this was a bit of a silly idea really but for once I went with my heart instead of my head. At some point I have to draw a line between producing entertainment and producing something g to pay the mortgage with as much of a shame as that is. I may take another look at going into leasing at some stage.
I flipped many cars and it was difficult to say the least, the last 11 years I have flipped houses and it’s very easy in comparison. The profit in cars is so small that any problem and the profit is gone for the next few cars to cover the cost.
It’s a full time job I think and far easier if you’re handy with the spanners or the spray gun 👍
Keep going, I come to your vids because of your straight talking.
Thanks 👍
That's a shame. I was looking forward to seeing content relating to whatever cars you were going to buy and sell. Give it a break and then perhaps you could give it another go one day but try it with a car you would be happy to keep and drive yourself if it doesn't sell.
Yes, maybe. Just have to use my time very wisely at the mo!
Shark infested waters that, if you have a conscience, you're better off out of.
Yes mate
I think that dealing cars for profit is a full-time job if you're hoping to make a profit. Car dealers will have a sixth sense as to what to buy, they'll have relationships with the local trade for getting work done, basically immersed in the ecosystem. For you to do all the add-on bits and pieces will cost you more, take longer, and you won't have the economies of scale. For instance, if you needed a left-handed Whitworth circlip spanner for one car, you'd use it for that car and it would gather dust thereafter. A full-time dealer would use it on a hundred cars and their accountant would lay off the cost of it against tax.
I hate selling stuff. I usually run old bangers, and they usually go off to the auction or the scrapper when they're no longer serviceable.
You might be interested in looking at the Chops Garage channel. He's a guy who has recently started a business as a car dealer, and it's amazing how much he has to put up with.
100% agree it’s a full time job and I’m not interested in doing it full time so I’m out. Choos Garage is great, I’ve been a subscriber since the early days.
How about teaming up with someone else who is trying to break into the used car business and offering them your expertise in running that business, leaving the mechanical bit to them? Would maybe make an interesting channel, and potential for a double-act (think Wheeler Dealers, Car SOS).
Also, have you checked out High Peak Autos channel? He also offers an online course for those wishing to get into the used car business. Best wishes.
Hi John, yes I have thanks mate. Love his channel. It’s just not for me at the end of the day. I just need to focus on my main business to get the mortgage paid I think.
I know why you can't be a car dealer......It sounds like you've got a conscience. I'll leave you to figure that one out ! 👍🏼
Thanks bud 👍
You should get into contact with Chops Garage!
I watch it a lot. Great channel. It’s just not the way forward for me.
To make it work on your own you need to be good at the whole process of cars, buying, mechanical work, paint, valleting, ads, the sale, coping with comebacks, we're doing distance selling now, so you even need to be willing to do long journeys (did a 500 mile round trip last week) if you can do all the above it's fairly good, for example a grand on a freelander, sold for 2k after a few jobs, delivery 200 miles round, good p ex as well that will have a great profit (after paint, ect) so maybe turning a grand into 3500 in a three week process, maybe don't give up, autos are going crazy, seems like you just talked yourself out of a profit, a lot of modern autos are jerky, had a vw up and it was awful.
Probably mate, it’s just not for me.
@@DefinitelyNotAGuru fair enough bud
@@DefinitelyNotAGuru try something plain and simple, yaris or micra, should be possible to flip a couple a mth without affecting your other stuff, pays the mortgage.
@@roystonvehicles9129 I’ll just go back to my usual work, that pays the mortgage with less hassle 👍
@@DefinitelyNotAGuru OK bud
I lease and it’s great, give it a go !
Me too…..
OK, the Focus didn't work out - the value was SYMBOLIC (more than it's worth in terms of what you've learnt). Brave soul going near a used P/S gearbox. 🤔
I went into it with open eyes and it did me proud for 3 days 😂
Don't give up too soon. I think you chose a bad car, Ecoboom and Powersh_t.
Stuck to small simple manual petrols, preferably Korean or Japanese and you will have an easier flip.
It wasn’t just the car to be honest, the whole thing was way too much for f a distraction from what I should be doing. For me I would have to do it full time for it to make sense abd that’s not an option.
Ah shame, we need more honest dealers.
Thanks mate
That car will have been driven straight onto some ``arthur daley type`` forecourt for at least double the money.
Actually really good bloke with one of the most reputable garages I know of 👍
I completely understand that you have to look after the business that gives you more profit because at the end of the day you have bills to pay. However, you should never give up in your first project. You already ackowledged that body work is not your thing, that's is ok. Remember flipping cars is not only about body work. If you are already good with polishing, cleaning and doing minor mechanical repairs, that is already a big help. This was your first car, maybe you picked up a car that was too filthy LOL and it took too much of your time? The more you do the quicker you will be and better at it. I don't flip cars. I just work on my cars and believe me, I understand you, starting from zero without any tools or knowledge, it sucks. Slowly, you start buying tools and gain knowledge, luckily for all of us, nowadays we have UA-cam and internet with all the help we need to fix pretty much everything. Just my 2 cents.
I can see how someone may see it that way from the outside in but my normal work life is extremely well paid and I have a real conscience. I don’t like people getting ripped off.
This little project showed me that a) it takes way too much time to turn a car around and what should have been a little extra has become a massive distraction from my main business, and 2) I hate the though my of selling a car on that breaks down on someone a couple of months later.
It may be your cup of tea but the reality is, it’s not mine. 👍
@@DefinitelyNotAGuru As I said previously, I completely understand you, you need to focus on what gives more profit, peace of mind and enjoyment. Doing something that keeps you awake during the night worrying about what could go wrong with the car, its not good.
@@ruinunes8251 that’s it mate, I’m not great in that respect as you can probably tell from my hair! Thanks for watching buddy
@@DefinitelyNotAGuru You are very welcome. I don’t watch many of your videos regarding car leasing etc, it is simply not my thing, but I enjoy you car news and car reviews. Have a nice one.
@@ruinunes8251 👍
I think your honesty is what stopped you making a success at car dealing
Maybe
No money in cars have a friend you sells cars said to me you only make money on cars if you sell bangers or top class cars top head
👍👍
Gets it out of the way. The idea would likely have been on your mind, until you gave it a bash. At least you didn't marry it, then it would have gotten expensive
That’s how I’m looking at it mate, box ticked, not for me.
You may not be able to retail that car
I didn’t, I sold it to a trader
Shame, how about using your skills and knowledge and setting yourself up as a broker as demand for decent used cars is at a high. For example, I've been looking for a good A6 Avant for my Mrs and the dogs, and Autotrader these days is crap. Use your contacts and knowledge to find the cars, introduce finance brokers and take a cut? Also, use your leasing knowledge to set people up with decent deals and maybe take an affiliate fee from a leasing company. Not everyone is internet savvy and can hunt down the deals, look at Carwow for example, shit company to deal with as they offer no personal touch whatsoever and yet they make a fortune.
I’ve actually been thinking about the leasing side of things Bob but will give the rest some thought too. Thanks for your input mate 👍
I'd also add the Skoda Superb Estate to your list of possibles Bob. Same drive train components and other bits as the Audi A6, but with a better reliability record. Probably slightly more space in the boot too. There's more boot space in a Superb Estate than in a Merc E Class estate. The Skoda will be £2k (or more) cheaper too. Ignore the badge. Skodas are as good as anything else today. Some Superbs also have the 170bhp 2.0Tdi engine. Finding the right one will be the challenge......
@@Brian-om2hh is agree, driven the Enyaq and I was well impressed but just couldn’t get one. I travel abroad a lot and frequently get Octavias as hire cars and they are greet.
Ah well..you know what you are doing.
👍
too much hazzle.
Yep
@@DefinitelyNotAGuru I try a few years back. Brought ford fiesta for 500 bust myself clean it. All day then sold for 580.
@@stokeontrentchannel3593 I bought an MX6 once for £1400, drive it for 10 months and sold it for £1400 with 2 months MOT. Great way to do it if you can find the right deal 👍
@@DefinitelyNotAGuru swing and round abouts. Lol. Got Volkswagen polo atm. Had one year. Now. Get the same price as paid for it.