CAR DEALERS DISAPPEARING! Car Market Faces Turmoil In 2024!

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In today's video we talk about the state of the car market in 2024, why are dealers closing down and what can we expect to see as the year goes on?!
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#UsedCarMarketCrash
#AutoIndustryCollapse
#EconomicDownturn2024
#CarDepreciationCrisis
#BuyerBeware
#ResaleValuePlunge
#VehicleDevaluation
#RecessionRide
#MarketMeltdown
#SecondhandShakeup
#WorstYearForUsedCars
#TradeInTroubles
#AutomotiveDecline
#FinancialImpact2024
#PreOwnedPanic
#CarValueFreefall
#DismalResaleScenario
#RippleEffectOnCarSales
#ResaleMarketDisaster
#DrivenToDespair
#DealershipShutdown
#AutoRetailCollapse
#CarLotClosures
#EndOfTheRoadforDealers
#DealershipDoomsday
#AutomotiveRetailCrash
#CarSalesDespair
#ShowroomShutdown
#VehicleVendorVortex
#ClosingDoorsAutoBiz

Пікірлер: 448

  • @klawlor3659
    @klawlor36594 ай бұрын

    "Car dealers disappearing"....possibly because the second hand cars are so BLOODY expensive! Ive got nearly 160k miles on my car. Usually I'd have traded it in, but I'm not paying silly money for a 5-6 year old motor. The fact that half the roads around my neck of the woods are like the moons craters is another factor.

  • @janettetaylor8760

    @janettetaylor8760

    4 ай бұрын

    Absolutely true second hand car r expensive I stop looking now and stared using my push bike

  • @danielbishop9077

    @danielbishop9077

    4 ай бұрын

    I bought a 1yr old car 11 years ago that was 40% less than new. Now it's only 10% less for a 1yr old car. It's why I've still got my old 12 year old car with 180,000miles on it. Not gonna change it until I have to.

  • @klawlor3659

    @klawlor3659

    4 ай бұрын

    @@danielbishop9077 That's the way forward matey! Old is the new "new".

  • @SoulTouchMusic93

    @SoulTouchMusic93

    4 ай бұрын

    bro my clapped out honda gave up the ghost and also my clapped out gixxer. i brought a 2011 audi from a work colleague and it has 229k on the clock. i went to look at a newish audi 2021 a6 pretty basic for 27k out the door. the car is THE SAME! even the guy that sold me the car got a merc 2017 for 13k and you could bolt the seats off of my audi onto his merc. i don't see the reason to change it because it ticks over and all i get with the new car is a couple screens that i hate anyway. the interior was exactly the same, the suspension and chassis was exactly the same, the engine was new but for 27k i pay rebuild the curent one 5 times over.

  • @wgascoigne6538
    @wgascoigne65384 ай бұрын

    I think that cars are still way too expensive especially on PCP and people are not buying into it anymore, they realise we are being ripped off by finance companies and big dealer networks generally 😢

  • @andrewevans6765

    @andrewevans6765

    4 ай бұрын

    Bang on I got a claim against Audi Financial Services which really is VW finance.

  • @Smith6265

    @Smith6265

    4 ай бұрын

    Buying a car is one of the biggest scams created. You spend $30,000 The moment you drive it away you’ve lost 10,000 you drive it around for a couple years and then sell it for 7000 what is the point ?

  • @jamesbrowne7601

    @jamesbrowne7601

    4 ай бұрын

    14% interest on used cars from Volkswagen

  • @denaco

    @denaco

    4 ай бұрын

    @@Smith6265index fund too

  • @Arsenal-81

    @Arsenal-81

    4 ай бұрын

    Spot on.

  • @jackcarter66
    @jackcarter664 ай бұрын

    20 years experience in Franchised and non-franchised dealerships and the last 15 years in another more professional industry taught me this: In the Motor trade, absolutely *everyone* bangs on about giving good / great / outstanding customer service but virtually *no-one* gives good customer service. Treat your customers with contempt and guess what? They’ll do the same to you, this is why dealers / traders constantly complain about their customers - but they ignore the fact that they present cars poorly, won’t negotiate, show almost no interest, and then unsurprisingly struggle for sales - if 90% of dealers out there did close - who would care? Not the customers - that’s for sure. The motor trade *never* changes, but the products and the buying public do - that’s why it is dying, end of farce.

  • @dannymurphy4199

    @dannymurphy4199

    4 ай бұрын

    Absolutely spot on. This hit the nail on the head. If they cared about customer service they would reduce salesman’s monthly targets so they can concentrate on delivering a great service, but they don’t they push more sales and customer service goes out the window because salesmen want to get paid. The whole reason I left the industry in October 22

  • @stevenwilkins3687

    @stevenwilkins3687

    4 ай бұрын

    I’m totally with you. The service is just abysmal now, plus the old ‘the price is fixed, it’s in line with current market prices’ every time you ask to do a deal. Makes me sick. Not only all that you’ve said, the finance deals are a disgrace, ŠKODA wanted 14% off me for my Tesla!! I settled with 6.9% from the Halifax. I hate buying cars now, it used to be one of my favourite things to shop for.

  • @colinjones2505
    @colinjones25054 ай бұрын

    You, Chops Garage and High Peak autos have hit the nail on the head IMO. You Tube channels DO help sell your vehicles, I'm sure of it, 'cus we get to know you, and how you operate. No hiding in the shadows wondering what you're REALLY like, unlike some of the shysters out there on the high street that are only interested in having yer kecks down.

  • @CraigMilesYoutube

    @CraigMilesYoutube

    4 ай бұрын

    Totally agree. In fact I think High Peak isn't that far from me. I've been looking for a replacement car for three months. Might pay a visit.

  • @user-Wojciech

    @user-Wojciech

    4 ай бұрын

    Yes, it applies to any business. KZread presence brings in a lot of customers.

  • @DrMikeOxgreen

    @DrMikeOxgreen

    4 ай бұрын

    While us car enthusiasts watch these channels, it's fair to assume the vast majority of buyers that dealerships rely on for the majority of their business simply aren't into this type of content. But a good, well run and honest business is the key, and that's what we like to watch

  • @markfoden765

    @markfoden765

    4 ай бұрын

    I wouldn't hesitate to buy from James or Joe forsure and absolutely KZread does help but also for these 2 word of mouth

  • @Kingdonnerkebab

    @Kingdonnerkebab

    4 ай бұрын

    Car Uk at The Car Pitch also a very honest dealer worth a look.

  • @johnnorth9355
    @johnnorth93554 ай бұрын

    After a brief look around at the second hand market I have just invested £800 in making my beat up Zafira B CDTI safe to use with a further amount needed to replace the clutch and flywheel in a couple of thousand miles or so. Says a lot about the state of the market when it is safer to throw money at an end of life car rather than replace it.

  • @therealunclevanya

    @therealunclevanya

    4 ай бұрын

    You would love the geoff buys cars channel

  • @Ultravox1981

    @Ultravox1981

    4 ай бұрын

    I've got an 09 plated Zafira. Looked at replacing it but have spent nearly £1000 on keeping it on the road. Will keep it now until the government decide we should all be unemployed and not darken their motorways.

  • @klawlor3659

    @klawlor3659

    4 ай бұрын

    Got a fifteen yr old civic. Touch wood 160k trouble free miles. I'd usually have traded it in by now for a newer car, but I'll keep it until there's literally no life left in it. What's the point when the dealer will give me peanuts, the cars on offer are ridiculously overpriced and the roads are like the surface of the moon?!

  • @briansmith9926
    @briansmith99264 ай бұрын

    You are spot on. You might have noticed that in the Estate Agents market, the same thing is happening. The online companies thought they were going to transform the way we bought our homes. It has not happened. As you say, it is customer service that people want. How many of your customers have come back to you because they were so happy with the service you gave them last time?

  • @londonman8688

    @londonman8688

    4 ай бұрын

    if you actually get good customer service

  • @denaco

    @denaco

    4 ай бұрын

    Ye Purp bricks went under

  • @valleysofneptune
    @valleysofneptune4 ай бұрын

    The lack of customer service these days is a major issue across many businesses in many sectors …..the focus on profits, dividends and shareholders while at the same time ignoring their customer bases will bring their businesses down….if you don’t look after your customers, you have no business. I’ve seen this growth across many sectors like House buying, car dealerships, supermarkets , hospitality to name a few …..been in sales for 36 years…and things have got very bad. I spent a few years in the motor trade , inc selling finance as a business manager , when my partner was looking for a car last year, we visited a car supermarket in Peterborough and I was shocked how poor customer service was…we walked away. EV’s would always come down in price the more they sell, over a million units in the uk now. But like I said above, my 36 years experience in sales tells me a lot of businesses are getting customer service wrong.

  • @klawlor3659

    @klawlor3659

    4 ай бұрын

    You're absolutely right. Used to be in sales myself, and the one thing I like is to feel "valued", like my business actually means something. This extends to when I have a meal out with my partner. It's the human interaction and the need to feel like my custom means something. Too many companies focus on the money rather than the end user.

  • @kevinmoffatt
    @kevinmoffatt4 ай бұрын

    Always amazed, when visiting main dealers, that there are so many staff to be seen who don't seem to be doing very much. I know that there will be some downtime, because I've worked in them, but I always found something that needed doing if I looked hard enough.

  • @priteshchampaneri5101
    @priteshchampaneri51014 ай бұрын

    The Cazoo dealer in Leeds closed down last year, I’m glad they have.

  • @londonman8688

    @londonman8688

    4 ай бұрын

    cazoo was the decent one. webuyanycar is the worst

  • @lenanderson753
    @lenanderson7534 ай бұрын

    Years ago ( late 60s early 70s) I dealt with a dealer group, The owners motto was "Service sells sales" The are still trading today!

  • @jonsayce7756
    @jonsayce77564 ай бұрын

    I totally agree with your comment about customer service. It is the one thing which can turn any buisness into a great buisness. Probably the most important things are to tell the truth and never promise something you can't deliver.

  • @highlandmalt6368
    @highlandmalt63684 ай бұрын

    Cazoo launched itself as specifically an online disruptive business....and then started opening traditional dealerships. I couldn't believe what i was seeing.😂

  • @eddthirty4065
    @eddthirty40654 ай бұрын

    Reference to credit only prices - not a problem if you're in the UK. Take out their credit. You have the right to cancel a credit agreement if it's covered by the Consumer Credit Act 1974. You're allowed to cancel within 14 days - the 'cooling off' period. Make sure you have an alternative agreed and in place or just plain have the cash. I did this a few weeks ago. Kept all the dealer and finance incentives.

  • @eddthirty4065

    @eddthirty4065

    4 ай бұрын

    If you do lease or buy on HP, make sure you are shown and understand how much you are paying over the life of the loan or agreement, not just the monthly payment. Any money you do spend on your car (or boat or holiday or whatever) has an opportunity cost of not being able to do something more productive with it like build a larger deposit for your house, a bigger pension or other investment. It's very easy to jeopardise your future financial well being by overspending for the now. Also applies to your daily lattes, smokes, your poison of choice or whatever.

  • @royfontaine5526

    @royfontaine5526

    4 ай бұрын

    Or don’t bother wasting time with dealers like this.

  • @eddthirty4065

    @eddthirty4065

    4 ай бұрын

    @@royfontaine5526 they tend to have the 'pick of the crop' older 2nd hand cars and very good warranty backup, so why avoid them? Make maximum use of the dealer and finance incentives.

  • @s111nps
    @s111nps4 ай бұрын

    I was under the impression that the fines for not achieving new EV sales levels, were against the manufacturer? Not the dealer. It’s not surprising that the really expensive EV,s are depreciating quickly. However, the “normal “ EV,s seem to be finding their own level in the market place. IMO the likes of Cazoo,who spent fortunes on sponsorship etc,have now had the rug pulled out from under them. More will follow this year. Thanks for the content, informative and enjoyable.

  • @holford98
    @holford984 ай бұрын

    100% right about the bigger the business the more problems and believe it or not less money!! My step brother fits kitchens and had 4 guys working for him and he was doing great. He then got in with a big kitchen supplier and there was to much work for the guys he had so had to take on more people which lead to loads of problems and organisation and in the end he was earning less money!! So went back to being a small business with less stress and more money!!! I personally wouldn’t buy a car online and to be honest I’m not a big fan of buying privately for a car over a certain price. I think buying a car from someone like yourself is the way forward as second hand cars will sometimes have problems so a service like you provided is the way to buy a second hand car over a certain price point..

  • @williamfence566
    @williamfence5664 ай бұрын

    Many years ago the anecdote was " if there are two dealers selling identical cars which one do you buy ? . The guy you liked the most as the cars are the same. Still applies.

  • @Silks-

    @Silks-

    4 ай бұрын

    Are you implying that these dealerships are closing down because people don't like the owners?

  • @williamfence566

    @williamfence566

    4 ай бұрын

    Customer service might be the only differentiation in a competitive market. Sadly the bigger the "group" the less they pay attention to it in most cases. @@Silks-

  • @davidcox8838
    @davidcox88384 ай бұрын

    New to the channel, struck instantly by your honesty. Wish you all the best for 2024 and the future,

  • @monturrahman878
    @monturrahman8784 ай бұрын

    Used car sales will go down following US market trend and the massive hike in car insurance costs in the UK is making car ownership more difficult to justify.

  • @VegasMilgauss

    @VegasMilgauss

    4 ай бұрын

    I’ve found Wally!

  • @ieatlotsoftoast

    @ieatlotsoftoast

    4 ай бұрын

    I've read that after the car insurance hike the next thing they plan on hiking is car repairs

  • @MattCharlie88
    @MattCharlie884 ай бұрын

    Have been considering changing my 09 plate Mondeo. To get something 3-4 years old of equivalent spec is astronomical. I’ve been offered pretty much scrap value for it, so decided to stick a new timing belt on it and will keep it going. It’s been well maintained and reliable and so makes more financial sense to keep it running for as long as possible.

  • @blueman46
    @blueman464 ай бұрын

    the thing i hate most about dealers is stuff like admin fees and i will not buy from a dealer that charges an admin fee, in my opinion its very cheeky especially as they have staff that do the admin and are already being paid a wage

  • @ianmontgomery7534

    @ianmontgomery7534

    4 ай бұрын

    where does the money to pay that wage come from?

  • @Ben-jq5oo

    @Ben-jq5oo

    4 ай бұрын

    @@ianmontgomery7534From the retail markup surely? There shouldn’t be a need to charge additional fees.

  • @justsomeone9267

    @justsomeone9267

    4 ай бұрын

    ​@@ianmontgomery7534Who pays the wage for those staff, when an admin fee is not included?...... Should I have to pay extra to Doris at the checkout till in Tesco for scanning my item?

  • @londonman8688

    @londonman8688

    4 ай бұрын

    admin fee seems like a tip for doing their job

  • @thedelaminator

    @thedelaminator

    4 ай бұрын

    @@ianmontgomery7534 Do you really need that question answering?

  • @BuySellCarsTV
    @BuySellCarsTV4 ай бұрын

    Good video Pal, I agree with the ending, having that relationship with a customer and going the extra mile makes all of the difference.

  • @tomh3802
    @tomh38024 ай бұрын

    You are absolutely correct when you said some dealers are charging more than the advertised price if you don't take out a credit agreement, this happened to a friend of mine just last week

  • @ianeccles111
    @ianeccles1114 ай бұрын

    You are 100% right, personal service is best, when I buy a car I like to kick the tyres, never buy one without viewing it up close. Those who buy a car over the internet at auction are crazy.

  • @PhilS-F
    @PhilS-F4 ай бұрын

    Hi Joe. I tried to buy a used car from Carbase in Bristol and when I asked if I could pay using bank transfer or cards I was told there was a £1000 limit. They obviously are only interested in finance deals which seems awful and no way to run a business. I’d much rather buy a car from a dealer like yourself.

  • @nectafarious8842
    @nectafarious88424 ай бұрын

    The thing about cash versus finance is easily overcome. You buy on finance with all the discounts and incentives, then cancel the finance within the 14 day legal window and pay off the finance company. Easy. I bought two cars like this and saved a good three or four large.

  • @asb1619

    @asb1619

    4 ай бұрын

    Spot on.

  • @Car_Porn

    @Car_Porn

    4 ай бұрын

    Please explain more lol I need to use this trick

  • @ferenczsinko6770
    @ferenczsinko67704 ай бұрын

    thank you for chatting to all your followers :)

  • @Chris-yc3mm
    @Chris-yc3mm4 ай бұрын

    Wish i could filter cazoo and cinch out of autotrader results

  • @Kingdonnerkebab

    @Kingdonnerkebab

    4 ай бұрын

    And Ireland, I have no interest in trying to get a car from there.

  • @neilt7145
    @neilt71454 ай бұрын

    Because of the way prices have gone the last few year, I change my car every 6 year instead of 3. I do all of my own maintenance and do it well, will mot be mugged by a car dealer ever again. Dealers post Covid have mugged buyers.

  • @DavidJames-ms6rt
    @DavidJames-ms6rt4 ай бұрын

    I would imagine the smaller and 'one man band' dealers always live deal to deal and its always a tough gig, but I'm staggered at some of the things that I have experienced of late. I want to buy a 71/72 plate Audi A5 SLine Coupe and just want to buy a good example at a sensible price....well, I would have more chance of winning the lottery! To add to this the price has increased by another £2-2,500 in the last month. As a cash buyer I would be more welcome if I turned up with Leprosy, VD and Ebola wanting to buy on Finance, no one is interested in doing a cash deal. Looks like my 8 year old Insignia will remain good friends for at least another 6 months, its pathetic whats happening with bigger dealers!!

  • @alanlee2751
    @alanlee27514 ай бұрын

    Interesting video. I’ve always preferred non-franchised dealers for buying a used car, and HATE the pathetic’ dance’ and shenanigans of “take a seat, can I just get a few of your personal details, would you like a coffee…..” blah, blah, blah from a mail dealer “sales executive” I much prefer a decent independent approach “ are you ok. Give me a shout if you need any info. I’ll be in the office.” Most people just want to find a half-decent deal, from an honest trader - and yes, being treated to some old-fashioned customer service would be a much better add-on than Gap insurance, seat stain protection, or paint gleam !! Rant over.

  • @Ben-jq5oo

    @Ben-jq5oo

    4 ай бұрын

    Spot on !!

  • @gu7717

    @gu7717

    4 ай бұрын

    Put you on the email list is massive profits long term. Go figure.

  • @ianmontgomery7534
    @ianmontgomery75344 ай бұрын

    Very informative. I am Australian and no one has suggested a tax on the sale of non-electric vehicle here. I guess if it works in the UK they will suggest. I am still driving a 1999 Ford Fairmont wagon (wagon version of Hubnut's Betty) as it is still going strong structurally. I have replaced both the engine and gearbox but she has now done 380,000k and I will keep her going as long as I can.

  • @aslandama

    @aslandama

    4 ай бұрын

    We love Betty!

  • @lapisredux

    @lapisredux

    4 ай бұрын

    the time will come when petrol and diesel vehicles will be taxed out of existence so we will be forced into EV shit bins.

  • @ianmontgomery7534

    @ianmontgomery7534

    4 ай бұрын

    @@lapisredux I think that might create a political backlash.

  • @aslandama
    @aslandama4 ай бұрын

    Very interesting Joe, thanks for the variety of content as always!

  • @roystonvehicles9129
    @roystonvehicles91294 ай бұрын

    Good video, cazoo was just crazy, buying all sorts, massive ads, sponsor ship, big floatation on the NY stock exchange, Alex chesterman, who started it got his money out early on.

  • @TheDarkUnicornGaming
    @TheDarkUnicornGaming4 ай бұрын

    I am looking for a car at the minute and have been amazed by the prices for basically bangers! I think you have nailed it with the personal service aspect and the ability to communicate and build rapport. So I have changed my approach and am now trawling the stock lists of dealers I know to be competent and will make my choice accordingly. Definitely will not be a franchised dealer though, all fur coats and no knickers!

  • @Westexec

    @Westexec

    4 ай бұрын

    Different story if you are selling one though, especially from WBAC

  • @miguelblanco9912
    @miguelblanco99124 ай бұрын

    Appreciate for the upload, keep them coming! 👍

  • @ruk2023--
    @ruk2023--4 ай бұрын

    Lots of good points but I'm only going to comment on 2 of them. 1. Scaling up is the hardest thing for any business and has all sorts of holes to fall in - just confirming your thoughts about it being on all businesses. My business is a tech startup but I have friends in various industries that have all struggled with scaling up. 2. Typical government stupidity forcing through a scheme to force EV sales without having any idea how it can be executed.

  • @user-jy4oi2mu1s

    @user-jy4oi2mu1s

    4 ай бұрын

    Why aren't the manufactures talking the govt to task and even withdrawing there cars from the UK market in protest dealerships or doin the right thing withdrawing from selling new cars this lets the govt know they can't dicktact what a dealer sells . Manufacters should be stepping up and giving the govt food for thought so they know they won't tolerate being told what they can or can't sell like bloody Russia lol

  • @At_the_races

    @At_the_races

    4 ай бұрын

    What a stupid comment it has nothing to do with EV’s

  • @ruk2023--

    @ruk2023--

    4 ай бұрын

    do you listen? Or read? The government is forcing dealers to sell EVs or face a large fine. What bit did you stumble on?@@At_the_races

  • @garethjudd5840
    @garethjudd58404 ай бұрын

    Let's not forget Hertz are selling off "All" their Evs and replacing them with petrol and Diesel cars. 😂. I wonder why?

  • @smoothmicra
    @smoothmicra4 ай бұрын

    The free market can create some crazy situations, it's not like cars have become passe because someone has perfected the Marty McFly hoverboard. Demand is strong, especially for Euro 5/6 cars, as a consumer the cost of buying second hand or new has gone up and stayed up. I'm getting on, so maybe that is why I look with disbelief at ads for tired hatches maybe 8 years old with 100K+ on the clock and the vendor still wants £5K (Autotrader says "great price"🙄). Despite this car vendors are struggling? I guess we are all happy about the big faceless corporate entities struggling, especially when it is these businesses you would expect to see cashing in right now (wrong business model chaps, bad luck!). I think there is truth in what you say about customer service. The purchase of a car is for most of us an occasion, it's not like buying a new pair of pants. If the car goes wrong you don't want to be put through to a customer services droid, you want to talk to a person who is invested. Good luck mate, your kind of dealership is getting it right.

  • @J1M1F

    @J1M1F

    4 ай бұрын

    8 years at 100k miles is nothing nowadays…

  • @mickyeverton
    @mickyeverton4 ай бұрын

    Many Thanks, very insightful!! Peace From London. 🙏

  • @davidoldboy5425
    @davidoldboy54254 ай бұрын

    Two dealers closed down in my town the last month, both established for many years

  • @davidhayes4814
    @davidhayes48144 ай бұрын

    Governments getting involved fiscally has always been fraught at best and at worst dysfunctional….. the law of unintended consequences.

  • @Nick-from-norfolk
    @Nick-from-norfolk4 ай бұрын

    You provide a very good service. Really enjoyed your video. Not a car guy but found your video very interesting

  • @flippingcars101
    @flippingcars1014 ай бұрын

    Great video bro 😎 keep up the good content ❤❤

  • @TheOffroader7458
    @TheOffroader74584 ай бұрын

    Car's and getting very expensive to run and repair. Car insurance has double this year 😊

  • @jonathanpork-sausage617
    @jonathanpork-sausage6174 ай бұрын

    Excellent overview. Your obs on selling customer service matches the old thing "people buy people". PS in 20 years++ time we'll all be driving lekkys but we will have them on lease. service contracts with big companies like the phone market.

  • @tomjardine100
    @tomjardine1004 ай бұрын

    I remember about 20 years ago, in main dealers you got really good customer service. I took my car to a ford main dealer and the staff were unfriendly and a bit hostile and the cost of repair was ridiculously expensive. Went to a independent garage and got it fixed for trade price!

  • @minimeee04
    @minimeee044 ай бұрын

    Yep our dealership has just pulled the plug on GAP insurance last week.

  • @VincentComet
    @VincentComet4 ай бұрын

    Hatfields Jaguar in Sheffield have closed down due people not wanting EVs

  • @michaeljohnson1006
    @michaeljohnson10064 ай бұрын

    Yes and don't forget all the costs have gone up for materials and any work that needs doing to repair cars.

  • @paulthyer4809
    @paulthyer48094 ай бұрын

    Buying online is nonsense. Can't beat customer service and seeing and test driving the product. Your information update on the state of the market and advice is excellent. Thank you

  • @ammo4184
    @ammo41844 ай бұрын

    Interesting content, a scary but interesting time to be in the car trade. Subscribed 👍

  • @CrustyLumber
    @CrustyLumber4 ай бұрын

    Why is there even a product called GAP insurance, the insurance companies have to pay you the market value of your car, when you get a quote they ask the value, then try and sell you short by not paying out, this drives me mad, its called INSURANCE, not we might give you some sort of low blow price for your write off, it stinks, it absolutely stinks.................things need to change, just my opinion !!!!!!!!!!!

  • @andyo2088

    @andyo2088

    4 ай бұрын

    Because the market value can be many thousands less than the cost of replacement The key is in the word “Gap” ie it enables you to replace your car with an equivalent new one by bridging the gap between the two values

  • @CrustyLumber

    @CrustyLumber

    4 ай бұрын

    well just replace what I have lost, that's what I pay you for, surely, its a con a damn right con...........

  • @roystonvehicles9129

    @roystonvehicles9129

    4 ай бұрын

    It's mostly for finance deals, you probably owe more than the card worth for the first few years, certainly in the first year you'll be way underwater on the deal.

  • @AnotherYoutuber460

    @AnotherYoutuber460

    4 ай бұрын

    GAP pays difference with the price you paid on the invoice vs what the insurance claims to be the market price. For those with new cars on PCP etc it’s worth getting however never ever get the dealer supplied one as they are overpriced and ofc commission based.

  • @roystonvehicles9129

    @roystonvehicles9129

    4 ай бұрын

    @@AnotherKZreadr460 fca are banning dealer supplied gap, due to them making commission on it.

  • @rogermurphy1154
    @rogermurphy11544 ай бұрын

    I dealt with Klassified cars in rugby, great indy garage, nice gents and very transparent- car detailed and polished on pick up. Good warranty as well. 5 star reviews well worth a look

  • @mattdedasc
    @mattdedasc4 ай бұрын

    I have been following 30 cars on Autotrader. Until last year, 50% would be sold within 3 weeks. Now all the 30 cars are still there. Taycans in particular. Market is in gridlock.

  • @Mo_R9

    @Mo_R9

    4 ай бұрын

    Yup totally agree. I have been looking on autotrader and eBay and cars are just not getting sold. Jus getting re listed over and over again. Plus the insurance hike on cars isn’t helping either

  • @steveloader
    @steveloader4 ай бұрын

    Thanks for pointing the facts out Joe. It’s been tough running a small van dealership in the south west and by the grace of god we are still here. Blood sweat and tears don’t come close to describe how it’s been. Keep up the good work buddy

  • @anthonybragg4844
    @anthonybragg48444 ай бұрын

    Sunak is disgusting with this stupid quota of EV cars and resultant fines. Problem is it opens the doors to more manipulation of a capital market eg "government don't like 4x4 or sports cars, or alcohol so it fines companies. Our predecessors fought for a free country and now look at us!!

  • @eddthirty4065

    @eddthirty4065

    4 ай бұрын

    nothing to do with Sunak ...

  • @aerial558
    @aerial5584 ай бұрын

    Excellent video 👍I always have time too watch. It seems the car trade is heading into hurricane winds this year? The bigger you are the harder you will fall.

  • @rallycrosscraig
    @rallycrosscraig4 ай бұрын

    Another great video. Please do an update video on cazoo. The market is changing and dealers need to use more of the data that we can get from the likes of autotrader dealer portal, motorway etc … As new car prices keep rising and finance gets more expensive I expect used car prices to continue to strengthen for good used stock. Bangers will always be cheap and good stock will keep going up as supply reduces. Not for 2024 but regulations will get harder and force more budget price range dealers to quit . The whole EV thing is politically driven forcing people into something they don’t actually want - brutal depreciation for early adopters will scare a lot of ev buyers off when they come to change - the used ev market still up in the air as the market has to adjust between company buyers paying fortunes for new EV’a and when they get to the used market the price point has to massively drop. To stay safe in this uncertain market I’d stock up with a load of budget 7 seaters and 5 door economy hatches and stay away from anything that might drop suddenly due to strange market changes .

  • @eatsinabeat
    @eatsinabeat4 ай бұрын

    Online shopping, used to love going round dealers and different car pitches haggling, last week I bought the Mrs a new ish kuga from pictures, delivered tomorrow free from a big ford dealers, been trying for a few months, none of them interested in cash 'pound note's' got to be bank transfer, the car was at a very good price and we got a cracking part ex price for our old kuga, win win but I miss the car pitches and dodgy salesman.

  • @GeekOfShaves
    @GeekOfShaves4 ай бұрын

    Bravo, so true. Well done you will be fine and do amazing. Opportunity for Berrow Motors for sure. Chris BuyThisReg 😊

  • @danstimelessclassics5899
    @danstimelessclassics58994 ай бұрын

    It's no surprise most of these so called big players are bank rolled and ofcourse that has a cost to in ie " interest " which ofcourse has been rising a lot in 2023 plus the cost of living really hurts there monthly outgoings ...added that the price crash in November and December many would have been on the edge so it was the final push. Selling from home has been hard enough I'm so glad i pulled the plug in the first big lockdown it was hard enough running a 35 car site in 2018 2019 let alone in this decade...best of luck to all of us remaining 🙏

  • @ianmontgomery7534
    @ianmontgomery75344 ай бұрын

    I have noticed and interesting thing in Australia. Subaru doesn't have dealers anymore - they have retailers. I hope that doesn't mean they will stop servicing them.

  • @SloopyDog
    @SloopyDog4 ай бұрын

    I am not surprised they are going bankrupt, people can not afford their inflated prices. The price of new cars is ridiculous, they have more than doubled in the last few years and they depreciate by about £3,000 or more every year. Second-hand car prices have trembled plus they are all high-mileage vehicles. it's rare to get a low-mileage car now. Greed is killing the motor industry.

  • @Mike-hx7yn
    @Mike-hx7yn4 ай бұрын

    Hi joe Having been in a non related business to yours But I think after the obvious things like sales and marketing people forget about overheads as they expand This is where one man bands can survive

  • @davidellis279

    @davidellis279

    4 ай бұрын

    There’s people on here that are not that bright,all the wages and overhead’s in big dealerships have to be paid for by someone and it’s you the customer who pays for that not the dealer,he couldn’t afford all those overhead’s like rent and rates for the fancy showrooms without you the customer paying over the odds for vehicles plus he has to stand by what he sells in the way of a warranty. People are slagging off main dealers haven’t a clue how much money it takes to run these places before any profit is made. The guy who bought the Volvo and then wanted the dealer to take it back and was shocked at the price offered is living in Lala land,what did he expect ??? a full refund and if he thinks going to another dealer is going to change anything he’s more stupid than he’s made himself out to be on here,get real man business are there to make a living and a profit to exist,it’s your choice wether you buy the vehicle or not,don’t blame others for your mistakes and then winge about it.

  • @richardtaylor3086
    @richardtaylor30864 ай бұрын

    Totally agree won’t buy online want to do face to face deal 👍👍

  • @markrandle4782
    @markrandle47824 ай бұрын

    I have no sympathy for big franchised dealers or the car supermarkets. They are greedy in wanting high mark ups and also really pushing the after sales products. Last year I bought an approved used Volvo from a main dealer for under £25k and realised within a few weeks I had made a mistake so asked them to buy it back, they said they would but offered me only 70% of the purchase price despite the fact that they didn't need to prep or service the car again apart from a quick valet. When checking the sale prices my car had probably fallen by only £1k at the time. They had made a big profit on me and then wanted to make an even bigger one straight away again. Hence I will never be going there again. All profit driven, no customer care or satisfaction/loyalty. I obviously expected to make a substantial loss for my 'mistake' but they really wanted to have my pants down, what makes it worse is that I had previously bought 2 cars from them so was a fairly loyal customer. It's tough for the buying public out there, we are squeezed for every penny on everything so I agree more companies should look after their customers if they can rather than raping our pockets.

  • @JacobSmith-hz2tr

    @JacobSmith-hz2tr

    4 ай бұрын

    You’re wrong. In order to issue a new warranty they will need to put the car through the workshop and probably issue a new MOT. The car will have another owner and frankly why shouldn’t the dealer want a small profit ? They also pay VAT on the difference between what they pay and what they sell for. It sounds like they’ve been extremely fair with you.

  • @davidellis279

    @davidellis279

    4 ай бұрын

    I think the government are hell bent on ruining the car industry with their stupid attempt to force customers into an EV which in my case will never happen,I will run my BMW into the ground before I will be told what I can or cannot have. If everyone sticks together and resist these government regulations then we might have a chance to get them changed.

  • @johnristheanswer

    @johnristheanswer

    4 ай бұрын

    So , does the company you work for not make maximum profits to pay your wages or do they act as a charity ?

  • @kerrysutton3382
    @kerrysutton33824 ай бұрын

    Joe 100% spot on with your observations regarding the personal service. I’ve not purchased a car from from you but Berrow Motors appear to epitomise that ethos. I will certainly be looking at Berrow on my next purchase.

  • @flybobbie1449
    @flybobbie14494 ай бұрын

    Plot on a corner down the road, often cars disappear for a few weeks then reappear. Not sure if it's merry go with new business, or if cars are just moved between sites to try and shift them.

  • @kevinromania
    @kevinromania4 ай бұрын

    Another factor could be personal car leasing. Myself and a lot of people I know, who do low mileages, now lease rather than buy cars. It suits us for ease and worry free car use, plus a new car every two years.

  • @danlovelock778
    @danlovelock7784 ай бұрын

    Brought here by mr sinclair. Good move going in his podcast! 👋

  • @adamtarrington6541
    @adamtarrington65414 ай бұрын

    It’s a weird time. I’m in the market for an L320. You have private sellers asking more than used dealers. I just want to find a dealer who’s got a decent customer rating on auto trader and I’ll just pay the asking price. I think most folk like me know a dealer has to make money but like you said I’m not really up for ceramic coatings, tyre cover etc which isn’t great for the dealer.

  • @JudyHudson-db5bd
    @JudyHudson-db5bd3 ай бұрын

    Cazoo launched itself as specifically an online disruptive business....and then started opening traditional dealerships. I couldn't believe what i was seeing.

  • @volt8684
    @volt86844 ай бұрын

    There are some very cheap lease deals on EVs at moment making me think they are registering them for figure meeting then leasing them at much lower prices than were 12 months ago. I think any product that are necessities which are priced well, the public will buy. Ithink eating out and pubs are going to be finished. Where I live a price of the same pint of beer can vary up to £2 and eating out nearing £100for two with drinks. Even if you can afford it - is it worth it. I think a vital service you offer at Berrow is customer service and you fix things because you can. I do my own diy spannering within limits but I hear from friends who have had repairs done to their cars costing over a grand. For the first time I am believing the hype that maybe I wont be able to afford a car much longer

  • @youraveragejoe1
    @youraveragejoe14 ай бұрын

    Also, please do do a video on Cazoo

  • @NorthernsoulBoy63
    @NorthernsoulBoy634 ай бұрын

    I always have a look for a change of car but recently the car forcourts aren't moving cars. Iv decided to stay put with the merc

  • @dipladonic
    @dipladonic4 ай бұрын

    All aspects of the second hand vehicle sales business are challenging. Only the best, most knowledgeable, and most efficient can survive.

  • @iancraig6070
    @iancraig60704 ай бұрын

    The main big brands hit smaller indipendant dealers when car electronics were introduced. Information regarding the sytems and how to reset faults wwere with held from smaller idependants.

  • @leewescombe3812
    @leewescombe38124 ай бұрын

    Can’t wait for the Cazoo video 😂

  • @greatwhitesharky3261
    @greatwhitesharky32614 ай бұрын

    Only 2 days ago I drove past inchcape and thought how sparse the forecourt looked. Now I may know the reason why.

  • @markmac44
    @markmac444 ай бұрын

    So you think used prices with go up, but EVs with have a rough time eg drop further? Im looking to buy a newer car (used) but it will be an EV. Should I hold out?

  • @michaellakey3565
    @michaellakey35654 ай бұрын

    A video discussing individual car and van owners' valuation buying / selling situation as you see it... would be good - probably get more views too.

  • @mikelucas7171
    @mikelucas71714 ай бұрын

    Ace video I am just a normal punter, but great to get some insights! That fine for not selling enough electric cars is a total joke. Its going to destory dealers which then will only add to the issues in the car market 👿

  • @PhantomMark
    @PhantomMark4 ай бұрын

    Locally we have a favourite car dealer spot which has opened and closed more times than Katie Price's legs, on many occasions it has been observed they have been fronts for money laundering / drug operations, could you speak to that ? do you think that could explain some of these here today , gone not long later business's ?? Turkish Barbers and Nail Salons are the new favourite it seems :)

  • @geoffreywhittaker4108
    @geoffreywhittaker41084 ай бұрын

    Great video Joe. Please continue in the same vein. Geoff Whittaker.

  • @danstimelessclassics5899
    @danstimelessclassics58994 ай бұрын

    The EV market is going to crash harder ...people already feeling forced and the more you force them the more they know it's a scam

  • @CiarayBoyDJ
    @CiarayBoyDJ4 ай бұрын

    The fact dealers are still ripping us off by thousands is shocking. I'm holding on to my Car, my misses is and my friends are. I normally change every three years, like my friends and misses I'm keeping hold of my car till it goes bang, I point blank refuse to be ripped off the way dealerships are and the only person that is to blame for their demise is themselves! I have absolutely no sympathy whatsoever for any car dealership that goes under at this moment in time

  • @ShiftingMetal

    @ShiftingMetal

    4 ай бұрын

    OK 👍

  • @PicturebikeMXphotography
    @PicturebikeMXphotography4 ай бұрын

    The APR on finance for used cars is crazy now, I purchased a van for my business 3.5 years ago put 10k down and the rest on finance (not PCP) I got it at 6 percent APR. Was thinking of changing our personal car this year for a used one maybe few years old same finance company now quoting 14.5 percent APR and thats with us both having a very good credit rating, so we are hanging on to the car we have for now especially as its only got 90k on the clock. And the dealer we purchased our current car from has recently sold the exact same model/spec same year even same colour for what we paid for ours nearly 4yrs ago!

  • @jablot5054

    @jablot5054

    4 ай бұрын

    Instead of paying the extortionate interest ,just save the equivalent amount until you can afford to buy cash. I've never taken out a loan for anything. I was taught if you want it work hard saved for it

  • @Tedmason897

    @Tedmason897

    3 ай бұрын

    ​@@jablot5054that obviously doesn't make sense in every situation though.

  • @SurprisedAquariumFish-je8kw
    @SurprisedAquariumFish-je8kw4 ай бұрын

    Simple reason nobody Can afford anything. Because the prices Are to high. Nobody Has any money to Spend prices need to Come down or no sale. It's that simple.

  • @wynhughes9072
    @wynhughes90724 ай бұрын

    If the government fails to reach its EV target sales an article i read today says that it will make the ownership of ICE cars a lot more expensive i.e.higher VED and fuel prices to 'Encourage' people to buy EV cars. Also the article stated that it was unhappy about some parts of the media giving EV's a bad name

  • @colinjones2505

    @colinjones2505

    4 ай бұрын

    I've quietly been wondering if this was going to become a possibility. Seems I'm on the right track here. Pigs claws in your pocket and wallet. What a shock ey?

  • @alanbest3984
    @alanbest39844 ай бұрын

    Last new car I bought 3 years ago was through a broker. Factory order, delivered to my door in 8 weeks with 19% off list price, at the time best I could get from a dealer was 5%.

  • @karmanline2005
    @karmanline20054 ай бұрын

    On Gap insurance it is the size of the commission margin which is at issue. It is often excessive.

  • @dondraper2488
    @dondraper24884 ай бұрын

    Trade and auction prices have levelled out…. Dealers have been taking the p*ss.

  • @stevenrobinson5864

    @stevenrobinson5864

    4 ай бұрын

    HEY! don't you mention that! It's one of his pet peeves don't ya know? he's really angry about it

  • @neilmckay8649

    @neilmckay8649

    4 ай бұрын

    Was tricked by your ID curved line, I thought it was a hair on the phone screen 😅

  • @crimsonpirate1710
    @crimsonpirate17104 ай бұрын

    Please do a video on Cazoo

  • @johnpassey3176
    @johnpassey31764 ай бұрын

    Last time I bought any cars worth any money were from SAAB dealers, I just kept going back, the cars were great but the service was even better. I had a turbo go 363 days into the year warranty but it wasn't knackered enough, luckily they had a box of properly broken components..... I miss them

  • @rameezbutt5588
    @rameezbutt55884 ай бұрын

    I think if you buy the right cars for the area your working from, prepare them properly and dont be too greedy pricing then you can do well, remember cars are a necessity now

  • @rrrated
    @rrrated4 ай бұрын

    I've just sold my car and bought another one. Try selling your car as P/X or to Motorway or WBAC. See how much you get. Also, look at any car you want to buy from a dealer and then check on WBAC how much they would pay for it. The moment you come out of a dealer with let's say £25k car, you're around £5k down if you wanted to px it.

  • @petershepherd6889
    @petershepherd68894 ай бұрын

    I live near a city in Portugal and the local Renault dealership has shut down.

  • @toy838
    @toy8384 ай бұрын

    Thanks read

  • @stevieoneill1599
    @stevieoneill15994 ай бұрын

    I know two used car traders and wanted to go into the market, what people don't realise is since the pandemic it's got ridiculously hard, cars at auction that used to go sub 5k where selling at thousands more for a prolonged period of time, add the cost of living to customers and its almost become un-manageable at this moment in time

  • @donaldduck5731
    @donaldduck57314 ай бұрын

    With inflation, the cost to borrow and the credit crunch, its all about watching your pennies, looking after things and buying used. If anything this will benefit the second hand car market and independent garages. Environmentally throwing less stuff away and looking after what you have is a massive C02 output reducer, sure I'd love a Porsche Taycan or the New Porsche Mecan EV, but a used Audi A3, just sticking to 60/70mph on boring to drive straight motorways and cycling to work is seriously reducing my C02 output without needing a£50k loan for an EV.

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