Anyone else just fed up of customers at the moment

[Paddy1000111]

4 minutes ago, eggsarascal said:

it certainly did, then things moved on, people (on the whole) don't hand over lumps of cash when they can get very low interest rates to finance stuff. The vast majority of car salesmen ain't selling the motor they are selling finance.

And the vast majority of salesmen can't have a 20-30k+ vehicle just disappear of the books. Vat needs to be paid, invoiced need to be seen and papertrails have to be made. The good old days of cash in hand are long gone 😫

[Will C]

You are right paddy but I think you missed the point/difference between cash in hand and “a cash buyer” - having the cleared funds ready to purchase the item in question

[topchippyles]

32 minutes ago, Paddy1000111 said:

And the vast majority of salesmen can't have a 20-30k+ vehicle just disappear of the books. Vat needs to be paid, invoiced need to be seen and papertrails have to be made. The good old days of cash in hand are long gone 😫

We are not referring to cash as cash paddy but the vehicle is paid for outright without any finance so to speak. Debit card to make payment for example 

[topchippyles]

44 minutes ago, eggsarascal said:

it certainly did, then things moved on, people (on the whole) don't hand over lumps of cash when they can get very low interest rates to finance stuff. The vast majority of car salesmen ain't selling the motor they are selling finance.

So without a vehicle where is the finance ?? I know what you means eggs but they are really selling the vehicle honestly 🙄

Edited March 6, 2021 by topchippyles

[Paddy1000111]

Ahh sorry I thought eggs was on about cash cash. I mean, I paid cash (cleared funds) for my van and didn't get anything at all for it, just a set of keys.

I agree with eggs though on the finance front. Everything seems more pushed towards finance than the vehicle. They don't make that much on the vehicle but it's 100% profit on interest and for no "investment", the finance doesn't need a warranty etc. I imagine the salesmen makes money/commission on finance packages as it's the best way to make cash.

The salesmen will sell you a vehicle, they may make a little commission on the optional extras or extended warranties but it's the finance packages, interest, etc that really makes them the money. 

[topchippyles]

9 minutes ago, Paddy1000111 said:

Ahh sorry I thought eggs was on about cash cash. I mean, I paid cash (cleared funds) for my van and didn't get anything at all for it, just a set of keys.

I agree with eggs though on the finance front. Everything seems more pushed towards finance than the vehicle. They don't make that much on the vehicle but it's 100% profit on interest and for no "investment", the finance doesn't need a warranty etc. I imagine the salesmen makes money/commission on finance packages as it's the best way to make cash.

The salesmen will sell you a vehicle, they may make a little commission on the optional extras or extended warranties but it's the finance packages, interest, etc that really makes them the money. 

I know a few of the lads at trade centre wales and ron skinner who sponsor mark williams the snooker player who i have done work for a few times. Salesmen are on a basic wage then every car they sell is £100-Get customer on finance £100-extended warranty £50. Skinner as the dealer gets £500 backhander min for every finance package they pass on but trade centre wales is so big it has its own in house finance company now.

Edited March 6, 2021 by topchippyles

[Paddy1000111]

Well, when you consider that the total amount payable for the finance package is ~£5000 for a new transit it's a hefty cash amount for whoever the finance company is 

[topchippyles]

13 minutes ago, Paddy1000111 said:

Well, when you consider that the total amount payable for the finance package is ~£5000 for a new transit it's a hefty cash amount for whoever the finance company is 

A lot of the finance is tax deductible against the business 

[doobin]

9 hours ago, topchippyles said:

A lot of the finance is tax deductible against the business 

So is a new machine for the 5k you’ve wasted on finance...

[Paddy1000111]

9 hours ago, topchippyles said:

A lot of the finance is tax deductible against the business 

A lot of people push that but if your payments are say £600 a month you're still paying out 600 a month and you're still paying the interest, you're just not paying tax on what would have been 600 profit.