Welcome to Bamford Rose and another question of the week. This week’s question of the week is, ‘Where are all the cars for sale on the fantastic new sales portal?’ If you haven’t already signed up to our sales portal on Facebook, here’s a picture of the opening page. Where you can already see that there’s over 1,200 people looking for cars that we have inspected and reported for sale. 1,200 people have recognized that this is a really really great place to buy a car from. So, the car is going to be inspected and absolutely everything involved related to that car’s health condition is going to be identified and reported on that inspection sheet.
Obviously, you get bells and whistles and after sales care and warranty when buying from somewhere formal. But you don’t get a car which has been prepared perfectly. And that you know for certain is harboring no problems. This sales portal offers a no-frills purchase; therefore, the price is going to be lower. But you do know exactly what you’re getting for the money. If you were a buyer, then that ticks all of your boxes and if you’re a seller too that will tick all your boxes. Because undoubtedly, you’re going to get more money for your car by selling it this way than via a trader who is making a cut out of the value of your car.
So, whilst it’s the very best place to purchase your car from. It’s actually quite a very brave move to sell your car on that platform. But if the car was at the top of its game, then rightfully it would attract no detrimental comments on the inspection report and should go for top money. If the car had a few issues, then that’s not a problem it can still go on the sales portal. But those issues are going to be made explicit in the inspection report and the asking price is going to be a correct reflection of that. It’s quite common in the repair and service world to see cars that have got big problems or wear items that need to be replaced.
They get traded on instead of getting fixed. And obviously, those current owners even though they know the car is harboring some repairs. They want top money for their car, which is understandable the current owner wants to get the most amount of money for their car that they can. The morals of that is a little bit questionable. Because inevitably some un-poor suspecting soul will pick that car up and if they’ve paid top dollar, because it’s been detailed to death and looks well-polished on the surface. When they put it into the workshop for the first time either at service or because it’s got a fault, then they’re going to get a bit of a shock and realize that they were hard done by.
Last week’s question of the week I showed the difference between a V8 Vantage at the top of its game and a V8 Vantage that was clearly distressed and wanted about 15 16,000 pounds just to make it road worthy. all the items I listed on that car last week were needed to essentially make it roadworthy, get it through a MOT. There weren’t any jobs on that list that could have been put on the back burner. I picture a comment posted on a Facebook group here. Now I don’t think the poster is showing those bad morals that I talked about earlier when selling a car. But it sort of shares the same tone or flavor. Let’s have a look at that post. It says, ‘Good luck to the owner potentially selling the tungsten silver V8 Vantage after being featured in the latest Bamford Rose video.’
Well, there should be no good luck needed in selling your Aston. It’s an Aston Martin, especially the Vantage. It’s highly desirable. It should sell overnight but it needs to sell at the right price to be fair to the buyer. Entry point for a 4.3 seems to be about 25 27.50. Maybe privately it’s a bit lower, maybe 22.5 to 25. That car needed a minimum of 16 grand spending on it to make it road worthy. In reality, it puts that car at something like 15K. Because any less than that then clearly someone will buy it, because they’ll just see a shiny Aston at a very low price and then not realize the cost to put it straight. So, 15K is the right price for that car. And if that car was advertised at 15K, then the owner wouldn’t need any good luck. It would sell overnight.
If it was advertised any more than that, then it really wouldn’t be worth it for the buyer. And if the seller did manage to achieve more than that probably by being economical with the truth on the extent of the repairs needed. Then the seller has achieved more money by pulling the wool over someone’s eyes, and that’s not quite right either is it. The purpose of that video was more public service related in the armed with info of potential repairs and the stuff that you need to check at pre-purchase. You can then go make sure you don’t buy a car like that, that’s being advertised at the top end of the market.
There are a number of comments complaining at me as there always is that there’s been a breach of data security. I’ve shown a car with its reg plate on. But these really aren’t just Muppets looking for any excuse to wield an axe. Here’s a picture from that same Facebook group. This is an annoying trend. Someone posts up a picture of hey, I’ve spotted an Aston post up the picture of the Aston on the motorway reg plate in full visibility, and that places that car and the owner at a time and a place where they might not want to be. But on those types of posts, unlike the one where I pictured the red plate, there’s never any, ‘hey, we should really cover the reg plate over data security breach.’
And the next would be comments that I’ve breached the confidentiality and data security of giving out all of the repairs that that car needs. I get many phone calls here from prospective buyers of cars saying, ‘Hey, I found a car for sale. I’m thinking about buying it. I see from the service records that you serviced it three years ago. Can you tell me anything you know about that car?’ So, you know no one’s got anything to hide. Yes, I help out the best I can and just tell you at that point in time what was on that inspection sheet. So, I look back in my records from three years ago, dig out that service inspection and go through on the phone with the things that we noted at that point in time.
I’m helping a buyer out. Should I do what the corporate network would do, which is say oh data protection couldn’t possibly give you that data. We want transparency, we all want to achieve the correct end deal, buying a car at a correct price. Knowing the repairs evolution, it might need. And like I said before there should be no good luck needed in selling a car. Because if the car was priced correctly, it will sell overnight. So, even if that tungsten silver car ended up on the Bamford Rose sales portal as long as it was priced correctly even though it had a big long list of stuff it needed, then that wouldn’t be an issue.
Two successful sales on that portal, already here’s Peter’s car, the absolutely lovely V8 Vantage. And here’s another silver V8 Vantage, which sold through that portal as well after only one day. Tim has done a really nice transparent advert on his Vantage S, which is another cracking car. So, if we look at a car like peters then he’s owned it for some time he’s racked up quite a few miles in it. He’s really proud about the level of care that he’s spent on that car and putting it for sale. He’s had the transparent inspection report done and his price has been a correct reflection of the cars market value age and mileage and taking into consideration any repairs it might need. That takes out all the pitfalls of purchasing a car. Everything is transparent and out in the open what’s not to like about it and it goes back to that cycle that I spoke about earlier.
Where someone wants to tick the aspirational. I’ve owned the Aston box and maybe they know that they’re only going to own the car for a few years. So, they buy at a certain price, it’s agreed they’re only going to keep it for a few years. They want to sell pretty much the price that they paid for it. And along the way, they’ll get their dealer service stamp even though they know that the car would be better cared for in the independent world. The naive new buyer when they come to sell is going to see a dealer stamp and think that’s the best. Meaning that they’re going to have every opportunity possible to get the best sale price closest to what they paid for it. And during that ownership period, they’re not going to involve the car at all repairs. Really don’t want to do any repairs because they’ll just be evolving it and maintaining it for the future owner.
So, this is where you see cars stack up quite some problems on the back burner that need fixing, brakes, tires, suspension, wishbone bushes. Maybe the aircon system is leaking, maybe that gets gassed every year instead of being fixed. And then when they come to sell it, well they’ll go and trade it in. Maybe they trade in a generic sports car outfit and they trade the Aston in and get a normal run-of-the-mill car out of all those problems that the car was harboring and then get taken on by that new seller. Who then puts it on the forecourt without any real checks. And it’s the new buyer that’s gonna cop for everything, until that cycle is broken and like the owner of the distressed silver car that we featured last week. Actually, sell responsibly not try and stitch anyone up by getting a few extra quid for the car, knowing that it needs quite some serious work done.
And until that cycle is broken where people sell the car for a value which will make it sell for overnight, because it’s correctly priced. Means that that traditional old way of trading your car in maybe a franchise dealer maybe a generic independent sports car reseller. And then new buyers buying cars with problems, that whole cycle would just keep going on and on and on. So, we’re going to do our best and try to kick this sales portal into life. We’re going to have an open day here on Saturday the 3rd of July. On Saturday the 3rd of July, the first 20 cars from now until then that arrive here for a pre-purchase inspection, we will offer that free of charge. And on Saturday the 3rd of July, those cars can line up outside on our open day and be for sale completely free of any charges from us.
If you’re a buyer, then you can come on Saturday the 3rd of July. And if there’s any cars that you like we’ll quite happily bring them inside and put them on the ramp. And talk through with you about the inspection report results, and look at the price that the car has been advertised for and just check that that’s all correct. So, we look forward to seeing anyone who wishes to get into the Aston world on Saturday 3rd of July. If you have a car for sale or you know of someone who wants to sell their car, then if you’re one of the first 20 then do get here we’ll we can do the inspection report before Saturday the 3rd of July.
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