You're a brave man Sam. Setting up a new business is one thing but selling cars to the ever demanding public is another! Thanks for the insight by the way, very interesting! 🙂
I think “lost confidence in the car” is code for “I’m skint and need the money back”! By the way if the V40 has start/stop and the locks are a bit iffy, radio is odd etc, it has a secondary “motor cycle” battery behind the left side of the front bumper that goes flat and causes many odd issues. People don’t seem to know it’s there!!!
Another enjoyable episode from you. I really do like your laid back and honest presentation style which, is a refreshing change from some of the other UA-cam channels that seem to come and go.👏👏👏👏👍 Well done Sir, and looking forward to the next exciting episode of .Watts On Court.. 😁
Well, I'm delighted you like the content and its people like you that make me want to continue. Thank you to you and I'm thrilled you like the videos. Stay tuned.
Definitely worth starting with a few lower priced vehicles 🚗. But on a positive note we all seem to be loving you and your content mate so keep up the amazing content ❤
Thanks so much! I love bangers and the price you can get them for but as a business, i feel they may be more problematic, and there's me buying a dicso sport with its guts being replaced! I'm literally going to try everything and will eventually settle on some belters and crack on from there! Thanks for watching and your comments!
I have been trading since 1983. Over the years I have learned that when someone says, "I will let you know either way" it actually means "I don't want the car. You will never hear from me again."
Just found your channel earlier today and love it.Ive always wanted to buy and sell cars but never has the guts to do it.I live in Plymouth so no far from Totnes
Ah, a local chap. If you can, go for it. The highs outweigh the lows, you just need to stay positive and keep a cool head! pop in when were at the new office
Good morning, just like to say very much enjoy the videos I think you’re going to make a great car dealer if not already you come over very professional and I also say you’re Junior sales team are Doing a great job too. Best of luck, Peter😊
Hi Sam, I absolutely love the videos and the professional production - it has a TV show quality about it. I'm watching with great interest as I had to retire from my corporate job a few months ago due to health issues and am looking for an income stream. Unfortunately I don't have any room for a forecourt at my house (only a one car driveway). Have you thought about how you would store cars when you grow and have more cars than can fit on your upper and lower forecourts? All the best and keep up the excellent work.
Ah, Thanks so much for your kind words. I'm sorry to hear you have had to move on due to health. Its a fun business to be in if you keep an open mind. Well, If you tune in to episode 4 coming up this weekend (hopefully) you will see whats happening with the car space. All is about to change!
Interesting point about the banking setup. As most of these online banks don't like car traders for some reason. I may do the same as you and put myself down as a consultant 👍🏼
Thank you so much, I'd say do it. remember I haven't a clue what I'm doing half the time and I know nothing about cars, although I'm learning so much every day and through this channel. So if you want to do it, just go for it! you have loads of support here from me and others.
Hi Sam Very much enjoying your content, I own a repair garage/MOT station/car sales business in Bovey Tracey not a million miles from you, we have an independent Land Rover specialist across the road from us called Mike Harding who are a fraction of the cost of a JLR main dealer, just in case you make the mistake of buying a JLR product again (we've all done it !!)
Oh you're just down the road! I know Mike Harding but unfortunately, he didn't have a slot for about 3 weeks. I then called Landrover and basically offered them my first child and they told me to bring the car in the following day. They diagnosed it there and then and completed the works less than 48 hrs later. I just now have to arrange the handover of Teddy for the Discovery! Lovely to meet you!
I think I will start following you. You have a great manner, I really hope you make enough money to keep trading and keep doing the posts. It cheers me up. 😊😊
@@WattsOnCourt weld it up bud if it was split, tbh I've never known one split, I did a jag ingenium engine one last year, cleaned out no problem, selling cars bud you've got to be ingenious
Great insight I didn’t realise just how risky this business is, keeping them cars sold and no returns ☺️ I’d be careful on showing invoices your full name and address 🤨 looking forward to your next video 🤝👍
Great channel reminds me of the england of old , i just reasoned re your analysis of the landriver bill. Since your in the early days of business , i can only imagine the amount of talking a shinny landrover can create amongst customer and friends as they say reputation is everthing, i did wonder what is the % difference in your sales price as compared with say landrover out from their forecourt
Yes I would! But you have to expect some low points. The highs out way the lows and if you have funds to be able to see you through while selecting your niche and figuring out what vehicles work for you then you’re in a great spot. I’ve been doing it for 4 months now and I’m now focusing on certain cars where before I was flying blind.
@@WattsOnCourt That's good to hear! many thanks for the reply, I'm trying to plot a course after 20 years of policing but this will be in addition to another business so won't solely rely on the income 👌🏻 look forward to tracking your progress!
I like the 31p for the locknut and the 85p for the screw on the LR quote. That must have made a big difference the overall outrageous cost. On the Mazda , the fact he fitted a tow bar , does that not invalidate the return as it’s not as you sold it to him ?
RE Mazda, I did check over the legals and no, it doesn't invalidate it. I did hold back 2K as you will see in episode 4 coming out this weekend and had the car and tow bar checked over to make sure it was done correctly though
He's probably tried towing his caravan with the Mazda and realized how under power it is to pull it. You defiantly need to up the stock range more choice needed.good luck.
Your wish is my command! Im going to try and do a separate vid on AI this week if i don't have any more horrors to deal with. I feel this week is going to be pretty special though!
If I was to do this, would a bank give you a business loan so you have funds to buy vehicles? or would you need money behind you before even attempting this? Just come across your channel and loving the videos. Love to learn more about this.
You may be able to get a personal loan but you won't get a business bank loan straight off the bat. You'll need some money to get started not just to buy the cars but to also prep them and then allow for that money to be tied up in that car for at least 30 days possibly. Good luck!
Arhhh yes ...... Land Rover Products, or "How to make your life miserable and lose money" just one piece of advice, do not think because it says Land Rover on the showroom or Workshop that they will have more skills than a cheaper and maybe even more competent engineer, I still buy them very occasionally but I have a team of very very good independent mechanics that not only know them inside out, their hourly rate to me is £50.00 and they have the same diagnostics as LR........ Damage Limitation is what this job is really about, both to you and your customers .... Good Luck !
@@WattsOnCourt I buy all my own parts and supply them, I guarantee the parts as per the manufacturers guarantee and my legal obligation, no more, no less .... I learnt long ago that no matter how much you do for a customer it will never be enough, so now I know the law and my responsibilities backwards, I'm incredibly fair, but I'm also no fool, having said that, because I've done it for so long I only buy vehicles that have a superb reputation, I don't touch certain models and as many in the trade who know me will say "That's Retail Mark, he's fussier than a retail man even though he's a dealer" .... I admit I am, but I truly cannot tell you the last time I had a problem that involved taking a car back or giving out money for a fault ..... I buy the most proven bullet proof cars I can, and although I walk away from many so called " Motor Trade Essentials" it has stood me in good stead so far, but I'm lucky, over 40 years has taught me well and given me immense knowledge, and as I always say .... "that" is the real key to success without many of the pitfalls Sir.
I'd love to have the in depth knowledge, I really would. Doing this gives me opportunities to hear what you all say and i thank you for your time commenting. Stay Tuned Mark. Keep an eye on me!
@@WattsOnCourt If I sound negative sometimes it is really just the realism of what this job is about ..... I still love it and enjoy what I do, but I'm super lucky, Its given me a great living and I've been involved in classic cars, racing, writing, and getting to know my profession in depth since 1977 when I started out at a "Perrys" Ford Dealership ..... Wow ! how things have changed, wishing you all the best.
I have bought and sold cars for 40 years you need to use local independent garages for repairs that will help you out, you won't make any profit using main dealers, they are very expensive and want to have your pants down especially land rover
True but the local garages just didn't have the equipment to properly diagnose. I had 3 garages try, all of whom claimed to know Landrovers like the back of their hands. Its done now and its all fine. Happy customer coming to collect and i still make a margin.
@@leedstownyes, my scanner picked up dpf problems St away, a litre of wynns dpf cleaner and sorted for say 20 quid, I think his LR was coming up egr codes, that usually point to egr, boost leak or turbo, anyway hopefully it's all OK now, as you say you'll not make anything going to main dealers.
Just randomly landed on these vids last night. Had watched all 3 by this morning. Fair play to you for making things happen. Yes please show more of the AI stuff. Any reason why you use chat gpt instead of Bard? Also do you have the enhanced version of GPT? It may be an idea to just explain what "book price" and other industry jargon means for the people who dont know. Good luck
Ha! Im glad you liked all the videos so far, episode 4 comes out at 6pm and i go into AI later in the video. I'll be sure to explain any jargon in future videos! Thanks for watching!
I'm actually re adjusting the insurance as we're making some big changes and adding more stock. When I have it in place i'll let you know. i'll include it in a video soon.
Hi, I wont be buying through BCA for a while. All the cars Ive had from them have been problematic. They seem to be cars that traders just dont want or cars that have filtered through from We buy Any Car. Sign up to Car wow or Motorway. I'm going to be looking at these cars in a lot more detail soon. Manheim is a good auction but keep an eye on where the car has come from and make sure they are a reputable dealer.
Hi Sam probably worth spending a grand on a decent second hand diagnostic machine it will save you running about mate just dont buy cheap one you can pick up a solus pro or something
As you took the car out to show him, I don't think it's a distance sale, he was free to walk away, a distance sale is that they whole deal was done remotely, I'd have deffo not had that back.
Unfortunately I had it all checked over by lawyers and it was a distance sale. I tried to argue it wasn’t but didn’t get anywhere. Hey ho, it’s done now and I may be able to make £700 out of it.
I know 100% it could have been done cheaper. After three garages attempting to properly diagnose, along with a deposit taken in the car, I just had to get the car into Landrover and get it done. There’s still a margin and I’ve got a great price on a part ex. I’m happy it’s done and that chapter with this particular LR tucked away! We move on wiser!
I have just watched all 3 episodes, I was feeling your stress on the landrover. I am a mobile mechanic and fixed a evoque after it had been into landrover and had 3 dpfs fitted. Hopefully yours is all sorted now and you can move on. Loving the content, I do buying and selling as well and thinking of pushing it more. You seem very fair and friendly so you will do very well
@@tomcoleman7288 thank you for your kind words and thank you for viewing the videos. I’m just trying to show exactly what it’s like. I’ll crack on and just learn the whole way. Taking advice and listening to what people say is great so keep watching and commenting!
@WattsOnCourt I have found that to be the best way, just crack on an learn. I always struggle with being a salesman, being a mechanic for 20 years I'm better with the cars then I am people 🤣
Enjoying your channel and journey. Whilst I appreciate you live in a lovely part of the world where most people are trust worthy, It will only take one dodgy person with fake ID to drive off in one of your vehicles during a solo test drive and in turn destroying your insurance NCB. This would be a bad move! I would suggest opening the car, letting the “family” review the car in peace ( head back inside and ask them ring you when they are ready). Secondly taking your issues to Land Rover/dealers is going to be a quick way to going out of business. There is no way you can sustain this, a reputable “Land Rover” specialist would have had the same effect at half the cost.
Good point. I live in a very trusting area but probably need to still have some guard in place. I'll give that a go! I only took this one to landrover as i just wanted to get to the bottom of it. The car was also sold and the part ex was a really good one so i kept the customer informed and he was thrilled Landrover were doing the works and the deal still went ahead. It gave him confidence and i still made a margin despite the bill! I wont be doing that on a regular basis!
Hmmmmmmm. Cheap bangers best , but, mid range also good. Starting off I’d be offering budget under £2999. No big bills on JLR products and buying back cars people lost faith on. Looked sunny last week. Cheshire was nice too until well. Today
Mid range is my market, i dont want high milage stuff really mainly 30-60k miles. I may get a banger for me once the astra dies and just see how that goes. just playing the field and currently need some money to shift through stock! stay tuned!!
I'm struggling with Traders Insurance, cause i'm only 23 they want £6000 a year from me for the most basic package! Also it wont cover my girlfriend to drive our main car, so be another £1100 for her policy. So I have to day insure and tax them all individually it's a nightmare!
Oh gosh what a nightmare. £6000 is a chunk you dont want to be paying. Try getting insurance in your name only, this will all depend on whats on your license, points etc if any. I just added my partner onto the insurance and it increased by £300 but shes 48, no points but she had a smash last year which was her fault!
@@WattsOnCourt Yeah its not good! I have a clean licence so does my partner but i've only held it for 3 years which also doesn't really help and thats what ive been trying if i wanted to add my girlfriend it went up too like £7000 plus, i have no option it's just not fair on the younger people i guess, maybe next year when im 24 "and more trustworthy or something" it will hopefully be around £3000!
I found that when I’m with a customer for a test drive it’s better because like somethings they don’t have clue on how select reverse or or even adjusting the seats I’m down in urban area so it’s a must for me to be with them at time of test drive .could definitely include how use ai 🤖 for helping you pick cars also margin you want to be achieved.very honest content about the trade.fantastic
I think i'm going to try and give them some space and time to discuss but i have to be there in person in the car. maybe ill go and make a cup of tea or respond to comments on the channel or even have a cheeky pint while they decide! I'll do an AI vid this week i think, its super cool what it can do in a spreadsheet. Stay tuned!!
Two things I would never let anyone take my cars for a roadtest on their own apart from anything else insurance companies don't like that either . People can't drive and no amount of damage can be done if they can't drive . Let alone the possibility of it being stolen Mazda is probably because as others have said it won't tow his caravan ( probably weighs too much) Don't be too easy going. Your a businessmen not a walkover
Quite true, I just need to find a way to conveniently give them 5 min to discuss then close the deal. Unfortunately, i didn't have a choice with the Mazda. If i said i wont buy it back, i could potentially HAVE to buy it back 1 year and 14 days from the date of sale because i didn't get him to sign the bloody 14 day distance selling form! I would then have to give him a FULL refund with no mileage deduction and have a car with 12K miles extra on the clock.
Not sure I’d be keen on being creative with the truth when it comes to KYC checks - NatWest are happy to open accounts for used car sales businesses and although they’re a bit slow and clunky in that traditional bank kind of way I’d like to think are less likely to decide they have an issue with your business activity in the future. Some of the challenger banks are very hard line if they decide there’s something they don’t like - so be careful.
No you dont. If you buy through auction, the car has already been put into trade, if you buy private you then go onto DVLA and register the car as sold into the trade and fill your details out, that way, if you or your colleague speeds through a red light, they know who to send the bill to. I hope that helps. sam
Always prep the car prior advertising, you never know what you might come up against, take that mazda, mot, advisory free first, an advert with a short test isn't very appealing, you need to run it for a while, trusting there's nothing up with it is folly, guy could have said that so you'll take it back.
“Distance sell waiver”? Distance selling is covered by the Consumer Rights Act 2015. Those are Statutory Rights, meaning you can’t give or otherwise sign them away There is no such thing as a distance selling waiver
There is a 14 day distance selling form you must have the customer sign, otherwise they have the right to hand the car back for no reason for a whole year and 14 days. I didn’t have them sign that form unfortunately.
Thanks for the info have been looking into trade insurance so will give Gallaghers a look into… £1100 seems like a great deal compared to some I’ve seen keep up the solid work 👍
If nothing was wrong with the mazda I'd have just said no tbh, pretty poor behaviour from the guy returning it after a few mths, if you read car dealer magazine a guy was doing this a few times on teslas, the last Garage fought it and won thru.
By law I would have to buy the car back even if there was no issue and he had changed his mind. The problem was that I didn’t get him to sign a 14 day waver so he automatically has the right to reject for no reason for up to 1 year and 14 days. It’s utter madness.
@@WattsOnCourt no bud, you took it out for him to view and did the deal before he handed his money over, distance selling is if everything was done remotely, ie like buying off amazon, if he picked it up at your premises it's double not a distance sale, youll learn to fight your corner mate in car sales or you'll go under.
I found limited company very restrictive. You were forced to file corporation tax early, you could not put car expenses against the business, unless you use a van! Banks will require a personal guarantee for any loans so they can still come at you and your property for the money. A sole trader business has much more freedom..I’d dump the limited company personally.
I've run LTD companies for some years and never really had to have personal guarantees for funding if the accounts are in shape. As a sole trader its all on you! Limited liability when so much can go wrong is good protection for a director if you manage the business well. Thanks for the comment.
@@chrisaris8756 hi, I also just started out and opened a Ltd company, I will really love to know how the sole trader will be better in my case as I’m already in a full time job in the military. Do you recommend I ditch the LTD company for a sole trader ?
Of course, don't get me wrong I APPLAUD you for having a conscience, but stealers are called STEALERS for a reason 😮 and you don't fit the category 😂😂😂😂
Do you think it’s wise to be seen parking outside the pub then downing a pint with your car outside? What happens to your business if you get breathalysed? Do you think it’s wise to be seen in your vids drinking around selling cars? You actually film yourself pulling up outside the pub on more than one occasion with the next shot of you supping your pint! With your car parked outside! Do you think it’s also wise to rave about having a pint? Do you think that’s a good image to project for your car sales business? What will you do if you lose your licence? Food for thought! You’re not even discreet about it! Every cop in the district now knows where you drink and what car you drive to get there! They also know you’re a car dealer! All this info you gave them on your vids!!! Booze an Cars ……. not clever!!! Just a thought!!!
@@Rowdy-Yates I do what many people love to do. I go to a lovely country pub and enjoy a beer. I’m sorry you have drawn your own conclusions to what happens off camera.
Some cop watching might ask himself that question. Did he down a pint? Let’s find out!! If he’s seen all 4 of your vids with you either holding a pint or expressing your desire for a pint. I’ll repeat myself ….. food for thought. If you can’t grasp what I’m saying then there’s no more to say!!
You're a brave man Sam. Setting up a new business is one thing but selling cars to the ever demanding public is another! Thanks for the insight by the way, very interesting! 🙂
Thank you! Yes, I was asking myself the same question!
I think “lost confidence in the car” is code for “I’m skint and need the money back”!
By the way if the V40 has start/stop and the locks are a bit iffy, radio is odd etc, it has a secondary “motor cycle” battery behind the left side of the front bumper that goes flat and causes many odd issues. People don’t seem to know it’s there!!!
Awesome hint! Thank you! Yes, prob wanted the money but he's a train driver so recently had a bit of a leg up!
Another enjoyable episode from you.
I really do like your laid back and honest presentation style which, is a refreshing change from some of the other UA-cam channels that seem to come and go.👏👏👏👏👍
Well done Sir, and looking forward to the next exciting episode of .Watts On Court.. 😁
Well, I'm delighted you like the content and its people like you that make me want to continue. Thank you to you and I'm thrilled you like the videos. Stay tuned.
Definitely worth starting with a few lower priced vehicles 🚗. But on a positive note we all seem to be loving you and your content mate so keep up the amazing content ❤
Thanks so much! I love bangers and the price you can get them for but as a business, i feel they may be more problematic, and there's me buying a dicso sport with its guts being replaced! I'm literally going to try everything and will eventually settle on some belters and crack on from there! Thanks for watching and your comments!
I have been trading since 1983. Over the years I have learned that when someone says, "I will let you know either way" it actually means "I don't want the car. You will never hear from me again."
Its funny that people dont have the balls to say, its not for me to your face. We're all the same in some ways!
Totally Agree ....... or "Thanks, I'll be in touch" ...No you won't !
Great Channel Sam, really enjoy your videos. Hope you have better luck with your next purchases.
Thanks so much. So do I!
Enjoying watching your videos. What a beautiful cottage and a beautiful village. Keep up the good work.
It's a cracking spot. Thank you!
Just found your channel earlier today and love it.Ive always wanted to buy and sell cars but never has the guts to do it.I live in Plymouth so no far from Totnes
Ah, a local chap. If you can, go for it. The highs outweigh the lows, you just need to stay positive and keep a cool head! pop in when were at the new office
@WattsOnCourt hey mate appreciate the invite I'll keep a eye on the channel and when your settled in I may just take you up on the offer
Good morning, just like to say very much enjoy the videos I think you’re going to make a great car dealer if not already you come over very professional and I also say you’re Junior sales team are Doing a great job too. Best of luck, Peter😊
Well thats very kind of you. Thank you Peter!
Hi Sam, I absolutely love the videos and the professional production - it has a TV show quality about it. I'm watching with great interest as I had to retire from my corporate job a few months ago due to health issues and am looking for an income stream. Unfortunately I don't have any room for a forecourt at my house (only a one car driveway). Have you thought about how you would store cars when you grow and have more cars than can fit on your upper and lower forecourts? All the best and keep up the excellent work.
Ah, Thanks so much for your kind words. I'm sorry to hear you have had to move on due to health. Its a fun business to be in if you keep an open mind. Well, If you tune in to episode 4 coming up this weekend (hopefully) you will see whats happening with the car space. All is about to change!
Hi Sam very informative and a very good watch
Thank you so much, Stay Tuned!
Tough week, keep the spirits up, love the videos
Thanks so much. I’ll expect to have the highs and lows!
Great video, enjoying your journey in the car trade👍🏻
Thanks, It has its ups and downs but I'm thoroughly enjoying it! Stay tuned
Great video u are a natural on camera wishing you every success 👍
Well, thats very kind of you. I don't feel I am but I'm just documenting things the way I see them, as me!
You are a very pleasant guy nice to listen to hope all goes well.👍👍👍
Well thank you very much, see you on the next episode!
Interesting point about the banking setup. As most of these online banks don't like car traders for some reason. I may do the same as you and put myself down as a consultant 👍🏼
Yes, they seem to hate us! Thats what I've done and no one has asked any questions!
Great content, thoroughly enjoying watching your journey. My dream is to do exactly what you have done this year ....."maybe ..... one day" 🤞
Thank you so much, I'd say do it. remember I haven't a clue what I'm doing half the time and I know nothing about cars, although I'm learning so much every day and through this channel. So if you want to do it, just go for it! you have loads of support here from me and others.
Hi Sam Very much enjoying your content, I own a repair garage/MOT station/car sales business in Bovey Tracey not a million miles from you, we have an independent Land Rover specialist across the road from us called Mike Harding who are a fraction of the cost of a JLR main dealer, just in case you make the mistake of buying a JLR product again (we've all done it !!)
Oh you're just down the road! I know Mike Harding but unfortunately, he didn't have a slot for about 3 weeks. I then called Landrover and basically offered them my first child and they told me to bring the car in the following day. They diagnosed it there and then and completed the works less than 48 hrs later. I just now have to arrange the handover of Teddy for the Discovery! Lovely to meet you!
bloody nice house you've got there
well explained on the insurance and trade plates etc
👍
Its a belter isn't it! Lovely views and a peaceful environment. No probs on the trade plates etc, glad it helped.
Hoping you have a great week 4!
Its going to be an exciting one for sure. Lets get these cars SOLD!
Aha ideal did think it was dpf as per last comment all the best with the sale 🎉
Yup, DPF cracked and now replaced! cooler filter all new too, fingers crossed!
I think I will start following you. You have a great manner, I really hope you make enough money to keep trading and keep doing the posts. It cheers me up. 😊😊
That's really kind! I'll keep going while I can! Stay Tuned
Enjoying your videos 👍
Thank you, Keep watching !
I clean dpf, s out, just done one on a corsa, dpf cleaning fluid is 40 quid and that'll do 4 or 5 cars, corsa was in limp, light on, now it's sorted.
I thought about going down that route but the DPF was actually broken unfortunately
@@WattsOnCourt weld it up bud if it was split, tbh I've never known one split, I did a jag ingenium engine one last year, cleaned out no problem, selling cars bud you've got to be ingenious
Really interesting content. Keep going.
Well thank you. And please stay tuned!!
You've got to close the sale when they're in front of you, once they've gone maybe 1 out of a hundred comes back.
Absolutely. I hate to be pushy but probably need to brush up on my closing pitch!
@@WattsOnCourt yes bud.
Great insight I didn’t realise just how risky this business is, keeping them cars sold and no returns ☺️ I’d be careful on showing invoices your full name and address 🤨 looking forward to your next video 🤝👍
Its very risky! Thought i had blocked the address out, it is now! thanks for pointing that out!
Great video. The hourly rate for LR is a bit of a shock. I wonder what the technicians get paid? Cheers.
Its eye watering! not much probably
Labour rate £198 really????
That's ridiculous.
Hope you have a deposit from your man
I would avoid JLR products like the plague
Very interesting
Thanks!
Great channel reminds me of the england of old , i just reasoned re your analysis of the landriver bill. Since your in the early days of business , i can only imagine the amount of talking a shinny landrover can create amongst customer and friends as they say reputation is everthing, i did wonder what is the % difference in your sales price as compared with say landrover out from their forecourt
Probably no where near the same!
Splendid video chin up old boy ....
Thanks old chap!
Great channel! 👌🏻 Can i ask knowing what you know now would you still set up a car sales business?
Yes I would! But you have to expect some low points. The highs out way the lows and if you have funds to be able to see you through while selecting your niche and figuring out what vehicles work for you then you’re in a great spot. I’ve been doing it for 4 months now and I’m now focusing on certain cars where before I was flying blind.
@@WattsOnCourt That's good to hear! many thanks for the reply, I'm trying to plot a course after 20 years of policing but this will be in addition to another business so won't solely rely on the income 👌🏻 look forward to tracking your progress!
Go for it. Its great fun.
I like the 31p for the locknut and the 85p for the screw on the LR quote. That must have made a big difference the overall outrageous cost. On the Mazda , the fact he fitted a tow bar , does that not invalidate the return as it’s not as you sold it to him ?
RE Mazda, I did check over the legals and no, it doesn't invalidate it. I did hold back 2K as you will see in episode 4 coming out this weekend and had the car and tow bar checked over to make sure it was done correctly though
He's probably tried towing his caravan with the Mazda and realized how under power it is to pull it. You defiantly need to up the stock range more choice needed.good luck.
Over the coming months i'll be adding a few more cars with more variety for sure!
Would love you to do an AI video on selecting cars. Good luck!
Your wish is my command! Im going to try and do a separate vid on AI this week if i don't have any more horrors to deal with. I feel this week is going to be pretty special though!
@@WattsOnCourt Looking forward to it.
If I was to do this, would a bank give you a business loan so you have funds to buy vehicles? or would you need money behind you before even attempting this? Just come across your channel and loving the videos. Love to learn more about this.
You may be able to get a personal loan but you won't get a business bank loan straight off the bat. You'll need some money to get started not just to buy the cars but to also prep them and then allow for that money to be tied up in that car for at least 30 days possibly. Good luck!
Good luck but steer clear of landrovers.
😁
Yes and thank you!!
I grew up around the corner from there, if I remember correctly your cottage burnt down years ago. Lovely place though!
Hi, Yes it did, many years ago i think. I believe it burnt down twice! Good to see you on the channel!
Arhhh yes ...... Land Rover Products, or "How to make your life miserable and lose money" just one piece of advice, do not think because it says Land Rover on the showroom or Workshop that they will have more skills than a cheaper and maybe even more competent engineer, I still buy them very occasionally but I have a team of very very good independent mechanics that not only know them inside out, their hourly rate to me is £50.00 and they have the same diagnostics as LR........ Damage Limitation is what this job is really about, both to you and your customers .... Good Luck !
Will they also supply a 2 year guarantee on the parts?
@@WattsOnCourt I buy all my own parts and supply them, I guarantee the parts as per the manufacturers guarantee and my legal obligation, no more, no less .... I learnt long ago that no matter how much you do for a customer it will never be enough, so now I know the law and my responsibilities backwards, I'm incredibly fair, but I'm also no fool, having said that, because I've done it for so long I only buy vehicles that have a superb reputation, I don't touch certain models and as many in the trade who know me will say "That's Retail Mark, he's fussier than a retail man even though he's a dealer" .... I admit I am, but I truly cannot tell you the last time I had a problem that involved taking a car back or giving out money for a fault ..... I buy the most proven bullet proof cars I can, and although I walk away from many so called " Motor Trade Essentials" it has stood me in good stead so far, but I'm lucky, over 40 years has taught me well and given me immense knowledge, and as I always say .... "that" is the real key to success without many of the pitfalls Sir.
I'd love to have the in depth knowledge, I really would. Doing this gives me opportunities to hear what you all say and i thank you for your time commenting. Stay Tuned Mark. Keep an eye on me!
@@WattsOnCourt If I sound negative sometimes it is really just the realism of what this job is about ..... I still love it and enjoy what I do, but I'm super lucky, Its given me a great living and I've been involved in classic cars, racing, writing, and getting to know my profession in depth since 1977 when I started out at a "Perrys" Ford Dealership ..... Wow ! how things have changed, wishing you all the best.
I was looking forward to your rendition of Sweet Caroline ! maybe Karaoke at the "Tally HO" one night Sam ?
Oh my! Well, the Tall Ho would certainly kick me out! It seems like the perfect pub to conclude my episodes don't you think?
@@WattsOnCourt For sure..
I have bought and sold cars for 40 years you need to use local independent garages for repairs that will help you out, you won't make any profit using main dealers, they are very expensive and want to have your pants down especially land rover
True but the local garages just didn't have the equipment to properly diagnose. I had 3 garages try, all of whom claimed to know Landrovers like the back of their hands. Its done now and its all fine. Happy customer coming to collect and i still make a margin.
@@WattsOnCourt any garage should be able to diagnose dpf problems
@@leedstownyes, my scanner picked up dpf problems St away, a litre of wynns dpf cleaner and sorted for say 20 quid, I think his LR was coming up egr codes, that usually point to egr, boost leak or turbo, anyway hopefully it's all OK now, as you say you'll not make anything going to main dealers.
The DPF was cracked, strangely 3 garages missed it!
Just randomly landed on these vids last night. Had watched all 3 by this morning.
Fair play to you for making things happen.
Yes please show more of the AI stuff. Any reason why you use chat gpt instead of Bard? Also do you have the enhanced version of GPT?
It may be an idea to just explain what "book price" and other industry jargon means for the people who dont know.
Good luck
Ha! Im glad you liked all the videos so far, episode 4 comes out at 6pm and i go into AI later in the video. I'll be sure to explain any jargon in future videos! Thanks for watching!
Great video, and great info of setting up as a trader. Can I ask how much your public liability cost, total cover and from which company ? Many thanks
I'm actually re adjusting the insurance as we're making some big changes and adding more stock. When I have it in place i'll let you know. i'll include it in a video soon.
@@WattsOnCourt thanks 👍🏻
Enjoying your content, I am trying to get a BCA account and want to know if they are any good ?
Hi, I wont be buying through BCA for a while. All the cars Ive had from them have been problematic. They seem to be cars that traders just dont want or cars that have filtered through from We buy Any Car. Sign up to Car wow or Motorway. I'm going to be looking at these cars in a lot more detail soon. Manheim is a good auction but keep an eye on where the car has come from and make sure they are a reputable dealer.
@@WattsOnCourt Thank you kindly for the advice, it is a minefield
My pleasure
Great video. What job did you have before becoming a Car Dealer?
I had a furniture business for 10 years where we made bespoke tables. Before that I was a professional yachtsman and boat stunt driver!
@@WattsOnCourt Outstanding. It's a very good to see how you can start off on the car buying and selling journey. Great work...
I seen on chops garage he had trouble with a automatic Nissan.
And many others possibly?! James seems like a lovely chap
Hi Sam probably worth spending a grand on a decent second hand diagnostic machine it will save you running about mate just dont buy cheap one you can pick up a solus pro or something
I have an icarsoft CRMAX which was about £350. it seems to do a great job but its not as detailed as LR. One day maybe!
@@WattsOnCourt I don't know Sam what there like as I use snap on and launch
As you took the car out to show him, I don't think it's a distance sale, he was free to walk away, a distance sale is that they whole deal was done remotely, I'd have deffo not had that back.
Unfortunately I had it all checked over by lawyers and it was a distance sale. I tried to argue it wasn’t but didn’t get anywhere. Hey ho, it’s done now and I may be able to make £700 out of it.
@@WattsOnCourt hope so, it's OK if that's the case.
The land rover can be fixed a lot cheaper, I have fixed loads of them now with the egr b flow fault.
I know 100% it could have been done cheaper. After three garages attempting to properly diagnose, along with a deposit taken in the car, I just had to get the car into Landrover and get it done. There’s still a margin and I’ve got a great price on a part ex. I’m happy it’s done and that chapter with this particular LR tucked away! We move on wiser!
I have just watched all 3 episodes, I was feeling your stress on the landrover. I am a mobile mechanic and fixed a evoque after it had been into landrover and had 3 dpfs fitted. Hopefully yours is all sorted now and you can move on. Loving the content, I do buying and selling as well and thinking of pushing it more. You seem very fair and friendly so you will do very well
@@tomcoleman7288 thank you for your kind words and thank you for viewing the videos. I’m just trying to show exactly what it’s like. I’ll crack on and just learn the whole way. Taking advice and listening to what people say is great so keep watching and commenting!
@WattsOnCourt I have found that to be the best way, just crack on an learn. I always struggle with being a salesman, being a mechanic for 20 years I'm better with the cars then I am people 🤣
I did the same as you for ages... Camera not screen......
As a newbie I've got so much to learn including looking in the right direction!
Enjoying your channel and journey. Whilst I appreciate you live in a lovely part of the world where most people are trust worthy, It will only take one dodgy person with fake ID to drive off in one of your vehicles during a solo test drive and in turn destroying your insurance NCB. This would be a bad move! I would suggest opening the car, letting the “family” review the car in peace ( head back inside and ask them ring you when they are ready). Secondly taking your issues to Land Rover/dealers is going to be a quick way to going out of business. There is no way you can sustain this, a reputable “Land Rover” specialist would have had the same effect at half the cost.
Good point. I live in a very trusting area but probably need to still have some guard in place. I'll give that a go! I only took this one to landrover as i just wanted to get to the bottom of it. The car was also sold and the part ex was a really good one so i kept the customer informed and he was thrilled Landrover were doing the works and the deal still went ahead. It gave him confidence and i still made a margin despite the bill! I wont be doing that on a regular basis!
Thats a good attitude to take with the Mazda, hopefully its gone soon
Thanks! Me too!
Evening evening
Evening!
Have you become VAT Registered yet? Thanks
I'm just about to!
Hmmmmmmm. Cheap bangers best , but, mid range also good. Starting off I’d be offering budget under £2999. No big bills on JLR products and buying back cars people lost faith on. Looked sunny last week. Cheshire was nice too until well. Today
Mid range is my market, i dont want high milage stuff really mainly 30-60k miles. I may get a banger for me once the astra dies and just see how that goes. just playing the field and currently need some money to shift through stock! stay tuned!!
@@WattsOnCourt just like chops. Not high miles. Old medium mile superminis first time driver cars
I'm struggling with Traders Insurance, cause i'm only 23 they want £6000 a year from me for the most basic package! Also it wont cover my girlfriend to drive our main car, so be another £1100 for her policy. So I have to day insure and tax them all individually it's a nightmare!
Oh gosh what a nightmare. £6000 is a chunk you dont want to be paying. Try getting insurance in your name only, this will all depend on whats on your license, points etc if any. I just added my partner onto the insurance and it increased by £300 but shes 48, no points but she had a smash last year which was her fault!
@@WattsOnCourt Yeah its not good! I have a clean licence so does my partner but i've only held it for 3 years which also doesn't really help and thats what ive been trying if i wanted to add my girlfriend it went up too like £7000 plus, i have no option it's just not fair on the younger people i guess, maybe next year when im 24 "and more trustworthy or something" it will hopefully be around £3000!
Try Gallagher Insurance. I'm paying 1200 per year or there abouts
I found that when I’m with a customer for a test drive it’s better because like somethings they don’t have clue on how select reverse or or even adjusting the seats I’m down in urban area so it’s a must for me to be with them at time of test drive .could definitely include how use ai 🤖 for helping you pick cars also margin you want to be achieved.very honest content about the trade.fantastic
I think i'm going to try and give them some space and time to discuss but i have to be there in person in the car. maybe ill go and make a cup of tea or respond to comments on the channel or even have a cheeky pint while they decide! I'll do an AI vid this week i think, its super cool what it can do in a spreadsheet. Stay tuned!!
@@WattsOnCourt yes i will look forward to new content.
Two things
I would never let anyone take my cars for a roadtest on their own apart from anything else insurance companies don't like that either .
People can't drive and no amount of damage can be done if they can't drive .
Let alone the possibility of it being stolen
Mazda is probably because as others have said it won't tow his caravan ( probably weighs too much)
Don't be too easy going. Your a businessmen not a walkover
Quite true, I just need to find a way to conveniently give them 5 min to discuss then close the deal. Unfortunately, i didn't have a choice with the Mazda. If i said i wont buy it back, i could potentially HAVE to buy it back 1 year and 14 days from the date of sale because i didn't get him to sign the bloody 14 day distance selling form! I would then have to give him a FULL refund with no mileage deduction and have a car with 12K miles extra on the clock.
Not sure I’d be keen on being creative with the truth when it comes to KYC checks - NatWest are happy to open accounts for used car sales businesses and although they’re a bit slow and clunky in that traditional bank kind of way I’d like to think are less likely to decide they have an issue with your business activity in the future. Some of the challenger banks are very hard line if they decide there’s something they don’t like - so be careful.
Virgin now do a bank account and I’ve now switched to them. Sorry for delayed response!
@ good call! 👍
Do you have to set up an account with DVLA to transfer a vehicle into the trade? Or can anyone do it?
No you dont. If you buy through auction, the car has already been put into trade, if you buy private you then go onto DVLA and register the car as sold into the trade and fill your details out, that way, if you or your colleague speeds through a red light, they know who to send the bill to. I hope that helps. sam
Always prep the car prior advertising, you never know what you might come up against, take that mazda, mot, advisory free first, an advert with a short test isn't very appealing, you need to run it for a while, trusting there's nothing up with it is folly, guy could have said that so you'll take it back.
Absolutely, it’s booked in for Monday and I’m driving it around all weekend. It will be perfect Monday PM and ready for viewings.
“Distance sell waiver”?
Distance selling is covered by the Consumer Rights Act 2015. Those are Statutory Rights, meaning you can’t give or otherwise sign them away
There is no such thing as a distance selling waiver
There is a 14 day distance selling form you must have the customer sign, otherwise they have the right to hand the car back for no reason for a whole year and 14 days. I didn’t have them sign that form unfortunately.
Did mazda man accept your deduction for mileage etc?
Yes he did and I also held back 2k until my garage have given the car a good inspection.
Erm erm erm erm erm doh.
A man needs to think about what he has to say!
@WattsOnCourt never worry. I still subbed to your channel and enjoy your erm erm content.
Thanks for the info have been looking into trade insurance so will give Gallaghers a look into… £1100 seems like a great deal compared to some I’ve seen keep up the solid work 👍
Yes, give them a go. They were great for me. best of luck with everything!
Why do you look to the side of the camera and not into it when you are holding it?
Because i'm a dollop and not got used to how all this camera stuff works. I'll get the hang of it one day!
If nothing was wrong with the mazda I'd have just said no tbh, pretty poor behaviour from the guy returning it after a few mths, if you read car dealer magazine a guy was doing this a few times on teslas, the last Garage fought it and won thru.
By law I would have to buy the car back even if there was no issue and he had changed his mind. The problem was that I didn’t get him to sign a 14 day waver so he automatically has the right to reject for no reason for up to 1 year and 14 days. It’s utter madness.
@@WattsOnCourt no bud, you took it out for him to view and did the deal before he handed his money over, distance selling is if everything was done remotely, ie like buying off amazon, if he picked it up at your premises it's double not a distance sale, youll learn to fight your corner mate in car sales or you'll go under.
@@WattsOnCourthi what do mean by the 14 day waver when selling a vehicle ?
Going to be honest, a bit gutted we didn't get to see you singing sweet Carolinr whilst hanging out of your arse.
@@mattblackledge9068 I’m sure there will be plenty of opportunities in the future! 😂
I found limited company very restrictive. You were forced to file corporation tax early, you could not put car expenses against the business, unless you use a van! Banks will require a personal guarantee for any loans so they can still come at you and your property for the money. A sole trader business has much more freedom..I’d dump the limited company personally.
Can you still get public liability insurance as a sole trader ?
@@andyjonesfitness oh yes. No problem. I also had to have professional indemnity insurance.
I've run LTD companies for some years and never really had to have personal guarantees for funding if the accounts are in shape. As a sole trader its all on you! Limited liability when so much can go wrong is good protection for a director if you manage the business well. Thanks for the comment.
Absolutely, yes.
@@chrisaris8756 hi, I also just started out and opened a Ltd company, I will really love to know how the sole trader will be better in my case as I’m already in a full time job in the military. Do you recommend I ditch the LTD company for a sole trader ?
lol paying md prices for that job , theres a guy on these comments been doing it since 83 , id be friend him proper if i was you , just saying .
Please just avoid anything Land Rover theyre all terribly built endless money pits!
I'll be steering clear of them for now!
I would block out your name and address on that invoice you dont know who's watching..
Thought i had but it didnt update. thanks for pointing it out. should be done now!
AN HONEST CAR DEALER ! you defo will NOT earn a lot of money in the car trade i`m afraid ............................
By being honest?
Of course, don't get me wrong I APPLAUD you for having a conscience, but stealers are called STEALERS for a reason 😮 and you don't fit the category 😂😂😂😂
Thank you
Do you think it’s wise to be seen parking outside the pub then downing a pint with your car outside? What happens to your business if you get breathalysed? Do you think it’s wise to be seen in your vids drinking around selling cars? You actually film yourself pulling up outside the pub on more than one occasion with the next shot of you supping your pint! With your car parked outside! Do you think it’s also wise to rave about having a pint? Do you think that’s a good image to project for your car sales business? What will you do if you lose your licence? Food for thought! You’re not even discreet about it! Every cop in the district now knows where you drink and what car you drive to get there! They also know you’re a car dealer! All this info you gave them on your vids!!!
Booze an Cars ……. not clever!!!
Just a thought!!!
@@Rowdy-Yates did I down a pint?
@@Rowdy-Yates I do what many people love to do. I go to a lovely country pub and enjoy a beer. I’m sorry you have drawn your own conclusions to what happens off camera.
God you’re a bundle of laughs rowdy! What are you,his wife?
Some cop watching might ask himself that question.
Did he down a pint?
Let’s find out!!
If he’s seen all 4 of your vids with you either holding a pint or expressing your desire for a pint.
I’ll repeat myself ….. food for thought.
If you can’t grasp what I’m saying then there’s no more to say!!
I live within walking distance.