Learning from Past Mistakes in the Motor Trade | Motor Trade Mentors Ep14

[@riptideblue]

I listened to this on Spotify while driving ,my job, I often relisten to previous podcasts , interesting content chaps.

[@paddydunne774]

Sometimes it feels like I’m earwigging on a private conversation I shouldn’t be listening to. You boys deserve to do well. Hopefully chatting with a fellow trader takes some of the pressure off. 🤘

[@thatcheapguy525]

getting into this channel. its a bit like listening to a car trader radio station but with pictures. would be great to have Mike Brewer and Lee back together for a head-to-head as they have a lot of commonality

[@markfoden765]

Great chat with just the 2 of you guy's

[@danielthomas9259]

Love you guys big fans of both of your channels I know you both will be a success and it’s great to see your journey as you progress, I’ve seen both of your channels from the early stages of shifting metal and then beginning of car dealer pro and the difference in the last 18 months is huge! Love both of your stocking profile, keep up the good work!

[@FactTV-rj6sh]

Still a good podcast with just you 2, good chat as usual, look forward to these podcasts well done keep em coming..

[@ianrobinson68]

Dave , with the PX’s that have profit but don’t fit your stock profile , what about selling those under a sub brand but viewing by appointment only at the prep centre ? Everything sold can still be underwritten by the lovely car company and the sale still goes through the lovely car company , it just disassociates those cars from your main business model and the usual stock profile that buyers expect you to sell. Just a thought and by all means shoot me down if you thinks it’s daft.

[@dadsholiday7302]

This was actually my favourite one of these ❤ and I’ve watched them all! 👏🏻👏🏻

[@pdglisa9087]

Great to have just the two of you. Really interesting, you’re both so great to listen to 👍👍👍

[@allyclarke6505]

If you trade the cars on that have been on your forecourt for 60 days or more. I think this is a great idea to do this as it also gives people who are looking on your website, regularly that you have a great turnover, which give’s possible customers confidence.

[@treacadelic]

Interesting hearing you talk about a company handbook. I've worked in an area where we use Standard Operating Procedures and Handover packages so in theory, anybody can do your job (almost) the level you can or you could handover the entire operation to someone else if you got ill or something and the company wouldn't miss a beat. It's well worth writing up a sort of Motor Man's Manifesto for your operations no matter what matket sector you're aimed at.

[@alancraigie7951]

Enjoyed this one Joe. It's good to hear all the stories from your business interactions. I can't believe what you have to deal with re: part changes.

[@paulmoore6345]

Love listening to you to two.

[@normanstephens5391]

Hi Guy's. That was a very good chat. All the up's and down's of the trade. Improvements and a clearer state of mind's - paths of where you both want to head to. Have either of you heard of or seen "Harley Trent" ( you tube ). He is a very young Motor Trader from. Poole/Dorset area. I think he would be an excellent person to be on your podcasts. See you all in the next one. Cheers from Merseyside. 👍👍

[@dangosypethau]

Important "efficiency chat" here. Metal sharpening metal. Trim all the excess. Make it lean.

[@allthatwanderarelost18]

What gets me with finance is why for cars do people always go to a car finance company (I know it sounds silly, but, as the dealer you wouldn’t have to be apart of the process). Whenever I have brought a car (always 2nd hand not brand new) I have borrowed the money from my bank. If they refuse you the money, you probably shouldn’t be borrowing that level of money. Car finance companies will always lend the money unless your credit score is zero(0).

[@jontheodore8450]

I always test drive part exchanges run a paint meter all over the body checking paint thickness for painting plug in check for any fault codes check on HPI and price accordingly..

[@dan44zzt231]

Joe have you ever thought about moving the mechanics off site and having more indoor showroom space for the really high end stuff? I know its a lot of work but I do feel like the higher end buyers expect a more premium experience, like what Rob at Cubit does.

[@RealTorquePodcast]

Certainly thought about it, making it a reality is another challenge though!

[@dandare8225]

Stock turn is a tool to control management at a big plc,it doesn't work with used cars,look at the state the big dealer groups are in.In my experience guys who made proper money in the motortrade worked on Big Margins across the cars and stayed clear of stock turn policy, the art of the selling is in the buying,so therefore if stuff sticks probably best to look at what your buying.

[@jonsayce7756]

That Fiesta is an eco BOOM! would you buy one?

[@DaleSteel]

Joe. Did you sell that e92 m3? Im going to sell mine if you can do anything with it? Its on about 48k miles. Really top spec thing. It just stands out with my usually 3 to 7k stuff

[@blazer688]

I could be interested what’s the best way to contact you?

[@RealTorquePodcast]

Sent it to auction Dale!

[@DaleSteel]

@RealTorquePodcast no way!!!! I thought I heard you'd sold it. Not a good time of year to sell them.

[@OleGitRule]

isn't that Fiesta a black and red edition

[@Harleytrentcarsales]

Poor dave, nice genuine bloke and gets tucked up by the general public on a part ex, hence why you gotta check over every single part ex out in person before you can even think about a deal as you don't know who is honest or not these days!

[@alistairjenkins7973]

Hey boys I met my wife at Blackhorse finance they are not all bad!!

[@allyclarke6505]

Eco sport is that the ‘boom’ engine?

[@RealTorquePodcast]

If it's the 1.0

[@allyclarke6505]

Are there any other makes that are 1.0 litre, and use the wet-belt? I would be grateful for your knowledge, please.

[@philipapplebywestdowntradi654]

Ford 1.0 Ecoboost Peugeot/Citroen/Vauxhall 1.2 Puretech Both are a nightmare!

[@dan44zzt231]

Dave looking for desirables stuff in black, grey and white, buys the Barbie edition Range Rover 🤣🤣🤣

[@dj4myparty]

Mja had a good business model as have RS centre in Bristol. They made their own way and had loads of followers made a sensible amount of money and didn't sell shit Most cars under three years old and in manufacturers warranty. He made around £1400 a car never gave a penny off for anyone. Trade ins priced to send to auction,so they made money on the px as well ( Not saying they didn't get the odd headache) Minimise your outgoings and stresses. If you want to earn more money go into property leave cars for people who are prepared to loose money because this next few years will be the hardest ever as we head to 2030 .

[@austinwalters]

When you have to discount a car to sell it, make it part of a promotion - e.g this week all XYZ cars have 10% off. That way you’re not looking like it’s a reduction because it won’t sell. Also it then has an expiry date so forces someone to make a buying decision before the discount ends. Also I would rather make £1000 selling three cars that give me no headaches than sell one car that makes me £3000 now but costs me in time, brain strain & warranty later. Look after your pitch profile like you look after your health. Great video - I like these guestless sessions now and again where you just shoot the shit about what’s going on.

[@RealTorquePodcast]

Thanks, we enjoy them too!

[@speedonwheels]

THE PRICE YOU PUT ON THE CAR IS THE PRICE THAT PEOPLE PAY, UNLESS PEOPLE ARE PAYING CASH WITH NO TRADE IN.

[@Smithstar1976]

You should understand the car trade by now I sold cars years ago and it goes up and down all the time it drives you crazy keep yourself busy while you are quiet all you will do is wait for the phone to call people are struggling with bills cars are luxury remmember and the car trade is hard

[@mbak7801]

You need a trade wide register of bad customers.

[@propertydevelopmentlive1223]

You're in a roller-coaster business, so don't complain about the ride!

[@zzhughesd]

You're

[@propertydevelopmentlive1223]

@zzhughesd Thank you

[@zzhughesd]

@@propertydevelopmentlive1223 I make loads of typo and grammar mistakes, odd when dad was a teacher and I did public relations BA at Uni

[@propertydevelopmentlive1223]

@@zzhughesd I am dyslexic

[@Smithstar1976]

Just remember selling higher end cars is different to selling cars for 2 3 grand bread and butter cars think about it

[@razorfox8466]

I felt genuinely insulted at 12:09 with the bad taste in your mouth after saying astra! Astra H owner here 🙋‍♂️😂

[@oww6467]

Just do every aspect of the job right and you will always be busy.

[@bikechannel2819]

Autotrader do ppc stick £30 on the car before you trade them on

[@bikechannel2819]

Joe you can set up a typo form As a checklist for the drivers to check Once the driver has completed the form will have a list / photos of the damage or things that need doing Adding the bank details at the bottom You will be able to see all the damage or problems before the car is paid for

[@andrewcairns7719]

Too much hassle for little money, am guessing that’s why many traders turn to You Tube for extra pennies

[@dalesmith1275]

Forget stocks and shares buy crypto

[@zzhughesd]

Everyone bombed. Voice lost. Must be hard.

[@aaronwilson8624]

I buy from AutoTrader. Why do I care about what cars you stock. I’m only interested in your car if it’s the best one on autotrader and local.

[@Lewis714]

Why do you continue to post when all you do is post negatively, just grow up mate

[@aaronwilson8624]

@🥲🥲🥲

[@bowensgarageross-on-wye]

👌 good to see you boys chewing the fat. Trust your gut on the PXS, be ruthless, always works in the long run 🫡