"Warranty Bollocks" needs to become an industry standard term 😂
@cardealerpro3 ай бұрын
😂😂 T-shirts and mugs coming soon!
@JeffPower-dv3zl3 ай бұрын
😂😂😂😊
@propertydevelopmentlive12233 ай бұрын
I agree with you on most of the points in this video. The two things we have done differently in our businesses is. (1) 25% into our stock pot. This is how we build debt free businesses in both vehicles and property. ( 2) Make sure our dividend never takes us over the 8.75% lower tax rate. Basic £12,571 to £50,270 8.75% Higher £50,271 to £125,140 33.75% Additional More than £125,140 39.35%
@cardealerpro3 ай бұрын
That’s excellent advice, thank you!
@bantamNeil123 ай бұрын
Very insightful video Dave...Good to see how organised you are with your finances and how responsible you are are as an employer towards your staff and overheads...👏🏻👏🏻👏🏻
@cardealerpro3 ай бұрын
Thanks mate 🙏
@KENNY-jq5gg3 ай бұрын
Dave I hope we get content of your new place and the work in progress of it love to see that all the best
@CON1FER3 ай бұрын
Thanks Dave - very helpful & makes alot of sense 👍
@leedee19773 ай бұрын
Excellent video. These are the things that should be taught in schools.
@cardealerpro3 ай бұрын
Thankyou
@LCOF3 ай бұрын
It is if you do business studies or economics as early as gcse (14-16) or whatever it's called now. There's probably a bit of it in maths at an earlier age too, not to mention using MS Excel/Office. Some school kids will pick it up, others won't give a monkeys no matter how hard you emphasise how important it is. It's like teaching cooking (home economics), kids couldn't give a toss despite it being an important life skill - my high school got rid of home ec entirely and gutted the kitchen that was used for it. Ditto woodwork and metal work.
@tomandrews20373 ай бұрын
Very organised! And you speak to the old traders and they used to walk round with a suitcase full of cash🤣.
@cardealerpro3 ай бұрын
Some still do 😂😂
@andrewmcnorton8943 ай бұрын
Great video Dave thanks for sharing.
@MarkChew-w4j3 ай бұрын
Really informative. I’ve been out of the motor trade for a long time doing building work. But my son craves for it dipping my toes atm lol .
@markpierce86743 ай бұрын
Great video showing how to be in business
@cardealerpro3 ай бұрын
Thanks mate 🙏
@thebeardedcartrader3 ай бұрын
Thanks Dave, very helpful and insightful 👍🏼
@danecowan6783 ай бұрын
That’s brilliant you described this on a podcast a while ago and I’d thought about it recently but couldn’t completely remember how it worked. I will use this going forward, thanks for making this 👍🏼
@danecowan6783 ай бұрын
I’m terrible at managing cash so this should be really helpful
@cardealerpro3 ай бұрын
No probs
@paulmoore63453 ай бұрын
Very interesting thanks
@bowensgarageross-on-wye3 ай бұрын
Good video Dave, we've got a very similar setup, makes for a slightly less stressful existence, we do put £150 per car into a 'Warranty Bollocks' account too 😂👍
@cardealerpro3 ай бұрын
😂thanks mate
@jasonellwood33 ай бұрын
Superb breakdown, keep the content coming. Keen to learn more.👍
@cdmotorslogisticsltd3 ай бұрын
Thank you for sharing this with us Dave. Regards
@henrykravitz4683 ай бұрын
Great Insight, and helpful. Thank you for making and sharing. Warranty bollocks 🤣🤣
@1must7233 ай бұрын
Man dropping gold dust 👍👍 thanks
@cardealerpro3 ай бұрын
Thanks mate 🙏
@irishdog20313 ай бұрын
Dj gotti Fantastic is there any chance you could do a break down repair cost purchase price on cars when you purchase them what margins you try to have to be on safe side and repair cost example you take in consideration when purchasing.
@cardealerpro3 ай бұрын
Will do mate
@ShiftingMetal3 ай бұрын
I wish I was this organised 😅
@cardealerpro3 ай бұрын
😂😂 I’m sure you’re more organised than me in other ways mate
@NedLeatham3 ай бұрын
Hi David would I be able to get your spreadsheet? Looks very handy! Thanks Ned
@cardealerpro3 ай бұрын
Send me your email on lovely car Co insta and I’ll ping it across
@NedLeatham3 ай бұрын
I don’t have insta unfortunately. My girlfriend will do it! Cheers. Thanks for all your help
@MCS.20123 ай бұрын
Quality👍
@andrewcairns77193 ай бұрын
Great video👍🏻
@roystonvehicles91293 ай бұрын
All I did in June was blow money clearing old stock out with bad issues, some profit would be nice (!)
@cardealerpro3 ай бұрын
Thought we had a storming month in June! Turns out all the mechanical work swallowed most of it!
@roystonvehicles91293 ай бұрын
@@cardealerpro yes bud, hard game
@tobiasdickinson36153 ай бұрын
Got a question Dave. With "warranty bollocks" is there a financial institution that can offer a blanket warranty for the cars you sell ? That why you can spread the cost of the bollocks and have a financial institution backing your corner with customers that have questionable warranty returns.
@cardealerpro3 ай бұрын
Might aswell just do it yourself in my opinion, if you listen to the podcast with Jamie from car quay he explains it perfectly
@nicecarsdarlington3 ай бұрын
Hi what is that software to separate the money like that? Thanks
@cardealerpro3 ай бұрын
It’s just NatWest bank or if you mean the spreadsheet it’s google sheets!
@seangrant8083 ай бұрын
👍🏻👌🏻
@hughjanus73543 ай бұрын
TAX 20% I presume that's your income tax not VAT, which is also 20%?
@cardealerpro3 ай бұрын
Sorry to confuse you but the 20% always seems to cover vat and tax
@hughjanus73543 ай бұрын
@@cardealerpro at 4:17 the VAT on the sale is 435 (and at 5:40 it becomes 366.67) yet you're setting aside 331.60 (so less than either of the VAT's you calculated), whichever way you want to look at it it's not clear.
@philipapplebywestdowntradi6543 ай бұрын
@@hughjanus7354 VAT on car sale margins is set at 1/6th currently. Used to be 7/47ths for years. So £166 on £1000 profit.
@cardealerpro3 ай бұрын
The vat on the spreadsheet is set at 1/6 but the vat/tax set on the profit for profit first is 20% …it’s not meant to be exact but it always seems to cover the tax/vat bill….it has me for the last 5 years! In the book it says try not to get too hooked on everything being perfect it’s more of an average…if you spread your money across your accounts on an average everything gets covered easily. Hope that makes sense
@cardealerpro3 ай бұрын
Exactly
@DavidEgan243 ай бұрын
Great video.
@TheLlandudno73 ай бұрын
When's the big move happening? 🚗 🚘
@cardealerpro3 ай бұрын
Hopefully soon mate! We’ll keep you posted
@winbig13 ай бұрын
Helps not overpaying like alot of morons at the auctions paying over cap clean. Just because it has a near all green check on it. I swear alot of people just like losing money or are not remotely interested in making it.
@NicholasBamford3 ай бұрын
Great video Dave, would love a copy of the template if that's possible, sent a DM on Instagram but not had a reply.
@cardealerpro3 ай бұрын
I’ll send it when I get a minute mate
@NicholasBamford3 ай бұрын
@@cardealerpro Thank you 👍
@aceace54573 ай бұрын
@Zuzkalaska3 ай бұрын
🥱😴😂❤
@cardealerpro3 ай бұрын
😂😂 should have used that for when you were a taxi driver