How to Make Profit Selling Cars

[@GuitarCinemaOfficial]

"Warranty Bollocks" needs to become an industry standard term 😂

[@cardealerpro]

😂😂 T-shirts and mugs coming soon!

[@JeffPower-dv3zl]

😂😂😂😊

[@propertydevelopmentlive1223]

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%

[@cardealerpro]

That’s excellent advice, thank you!

[@bantamNeil12]

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...👏🏻👏🏻👏🏻

[@cardealerpro]

Thanks mate 🙏

[@KENNY-jq5gg]

Dave I hope we get content of your new place and the work in progress of it love to see that all the best

[@CON1FER]

Thanks Dave - very helpful & makes alot of sense 👍

[@leedee1977]

Excellent video. These are the things that should be taught in schools.

[@cardealerpro]

Thankyou

[@LCOF]

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.

[@tomandrews2037]

Very organised! And you speak to the old traders and they used to walk round with a suitcase full of cash🤣.

[@cardealerpro]

Some still do 😂😂

[@andrewmcnorton894]

Great video Dave thanks for sharing.

[@MarkChew-w4j]

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 .

[@markpierce8674]

Great video showing how to be in business

[@cardealerpro]

Thanks mate 🙏

[@thebeardedcartrader]

Thanks Dave, very helpful and insightful 👍🏼

[@danecowan678]

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 👍🏼

[@danecowan678]

I’m terrible at managing cash so this should be really helpful

[@cardealerpro]

No probs

[@paulmoore6345]

Very interesting thanks

[@bowensgarageross-on-wye]

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 😂👍

[@cardealerpro]

😂thanks mate

[@jasonellwood3]

Superb breakdown, keep the content coming. Keen to learn more.👍

[@cdmotorslogisticsltd]

Thank you for sharing this with us Dave. Regards

[@henrykravitz468]

Great Insight, and helpful. Thank you for making and sharing. Warranty bollocks 🤣🤣

[@1must723]

Man dropping gold dust 👍👍 thanks

[@cardealerpro]

Thanks mate 🙏

[@irishdog2031]

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.

[@cardealerpro]

Will do mate

[@ShiftingMetal]

I wish I was this organised 😅

[@cardealerpro]

😂😂 I’m sure you’re more organised than me in other ways mate

[@NedLeatham]

Hi David would I be able to get your spreadsheet? Looks very handy! Thanks Ned

[@cardealerpro]

Send me your email on lovely car Co insta and I’ll ping it across

[@NedLeatham]

I don’t have insta unfortunately. My girlfriend will do it! Cheers. Thanks for all your help

[@MCS.2012]

Quality👍

[@andrewcairns7719]

Great video👍🏻

[@roystonvehicles9129]

All I did in June was blow money clearing old stock out with bad issues, some profit would be nice (!)

[@cardealerpro]

Thought we had a storming month in June! Turns out all the mechanical work swallowed most of it!

[@roystonvehicles9129]

@@cardealerpro yes bud, hard game

[@tobiasdickinson3615]

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.

[@cardealerpro]

Might aswell just do it yourself in my opinion, if you listen to the podcast with Jamie from car quay he explains it perfectly

[@nicecarsdarlington]

Hi what is that software to separate the money like that? Thanks

[@cardealerpro]

It’s just NatWest bank or if you mean the spreadsheet it’s google sheets!

[@seangrant808]

👍🏻👌🏻

[@hughjanus7354]

TAX 20% I presume that's your income tax not VAT, which is also 20%?

[@cardealerpro]

Sorry to confuse you but the 20% always seems to cover vat and tax

[@hughjanus7354]

@@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.

[@philipapplebywestdowntradi654]

@@hughjanus7354 VAT on car sale margins is set at 1/6th currently. Used to be 7/47ths for years. So £166 on £1000 profit.

[@cardealerpro]

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

[@cardealerpro]

Exactly

[@DavidEgan24]

Great video.

[@TheLlandudno7]

When's the big move happening? 🚗 🚘

[@cardealerpro]

Hopefully soon mate! We’ll keep you posted

[@winbig1]

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.

[@NicholasBamford]

Great video Dave, would love a copy of the template if that's possible, sent a DM on Instagram but not had a reply.

[@cardealerpro]

I’ll send it when I get a minute mate

[@NicholasBamford]

@@cardealerpro Thank you 👍

[@aceace5457]

[@Zuzkalaska]

🥱😴😂❤

[@cardealerpro]

😂😂 should have used that for when you were a taxi driver