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Platform for high value private car sales

24

Comments

  • #32
    sk8board
    Registered Users, Registered Users 2 Posts: 4,239 ✭✭✭sk8board


    OP posted and vanished. This idea is vastly ill-conceived for a tiny market like ours IMHO.

    You’re limited to private sellers of expensive cars, of which we have very few. The lack of hassle of selling privately has a value to many people, and even moreso to people who can afford high value cars.

    Donedeal is great value when you just consider it has massive car-buying traffic. You post your car when the traffic is.



  • #33
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    I really appreciate all the comments on the thread so far. I guess Im guilty of using poor terminology in my OP. By high value I meant ~€10K+ i.e. not bangers but certainly not Beshoff stock either.

    I am of the view that there is a market for a buyer focused platform which rewards the seller and buyer selling direct and bypassing the dealer - allowing the delta between dealer price and private sale price to benefit the buyer and potentially the seller

    I will address some of the other points tomorrow as I ddon't have time this evening



  • #34
    galwaytt
    Registered Users, Registered Users 2 Posts: 12,717 ✭✭✭✭galwaytt


    https://www.boards.ie/discussion/comment/123549715#Comment_123549715

    tell me about it.

    I have a car on Carzone & CarsIreland atmo, and the first two enquiries were out & out scammers. Dunno how that's filterable.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



  • #35
    sk8board
    Registered Users, Registered Users 2 Posts: 4,239 ✭✭✭sk8board


    https://www.boards.ie/discussion/comment/123550823#Comment_123550823

    €10k is well well below the level that someone would be prepared to pay for an expensive warranty, a PPI, and the platform margin on top.

    we already have somewhere to buy the cars you’re referring to - it’s any main dealer in the country :)



  • #36
    carsfan2
    Registered Users, Registered Users 2 Posts: 3,889 ✭✭✭carsfan2


    I have always been under the impression that one of the impediments to selling more expensive cars privately is the lack of dealer financing available to purchasers.

    The site would possibly need to partner with a financial services firm able to offer competitive loans I think.



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  • #37
    goochy
    Registered Users, Registered Users 2 Posts: 5,194 ✭✭✭goochy


    There's dealers who do all this



  • #38
    User1998
    Registered Users, Registered Users 2 Posts: 9,925 ✭✭✭User1998


    https://www.boards.ie/discussion/comment/123553951#Comment_123553951

    There are plenty of businesses that offer services nobody knows about. If OP markets their business correctly customers may choose them. There are practically no dealers openly advertising that they provide SOR. Just because other businesses offer a similar service doesn’t mean a new business can’t surpass them.



  • #39
    goochy
    Registered Users, Registered Users 2 Posts: 5,194 ✭✭✭goochy


    Sor has a bit of a bad rep in uk . Dealers running away with money or using cars to just fill showroom space. A dealer just doing sor might not be a good idea . There is alot to be said for a dealer buying in stock. I would have thought owners of high end cars would know to contact the many high end used dealers around the country . If a dealer did not want to buy car outright I am sure they would do sor if car was spot on



  • #40
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123553858#Comment_123553858

    We are partnering with a car finance provider. The warranty will be funded by the car finance provider as an acquisition cost so the buyer doesnt pay for it.

    The only cost which will have to be paid for by the seller, to access this marketplace is the physical inspection (80 point vehicle check) at the outset. This will cost €60 and no car will be allowed to enter the marketplace without this vital inspection to ensure only genuine cars enter this ecosystem



  • #41
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    Yes, of course dealers do this - thats the point. We are trying to create an alternative for sellers and buyers, removing the dealers margin but maintaining safeguards



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  • #42
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    https://www.boards.ie/discussion/comment/123555580#Comment_123555580

    The finance company is going to take on the warranty liability?!

    How much interest is this car provider charging? No such thing as a free lunch comes to mind.



  • #43
    goochy
    Registered Users, Registered Users 2 Posts: 5,194 ✭✭✭goochy


    Is the market big enough ?



  • #44
    Buddy Bubs
    Registered Users, Registered Users 2 Posts: 6,017 ✭✭✭Buddy Bubs


    https://www.boards.ie/discussion/comment/123555580#Comment_123555580

    Who is providing the 80 point check and at what locations?

    60 euro seems very cheap. Too cheap. I used to give my mechanic cousin 50 as a gesture to check over cars for me when he didn't want to be paid!



  • #45
    Del2005
    Registered Users, Registered Users 2 Posts: 19,085 ✭✭✭✭Del2005


    https://www.boards.ie/discussion/comment/123555580#Comment_123555580

    Is the whole thing going to be €60 to the seller? How are you getting the car inspected, finance and a warranty for this amount? Then you have your own costs to run the website.

    How do you plan on making money from this?



  • #46
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123555604#Comment_123555604

    The 80 point check will be completed by a very reputable chain of garages with nationwide presence.

    €60 is the price - I'm glad you think its cheap or too cheap. I hope the general public agree with you



  • #47
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123555600#Comment_123555600

    No. The finance company will contribute the cost of the warranty. The warranty itself will be provided by a reputable insurer



  • #48
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123555609#Comment_123555609

    With all due respect, the "making money" is commercially confidential so I won't divulge it here. Ultimately I believe that the current marketplace can be disrupted. It is inevitably a zero sum game so the winner is the private sellers and buyers and the loser is the car dealers (if the plan succeeds)



  • #49
    User1998
    Registered Users, Registered Users 2 Posts: 9,925 ✭✭✭User1998


    https://www.boards.ie/discussion/comment/123556350#Comment_123556350

    It could work, I think the price the car buyer pays needs to be lower than the equivalent dealer price. The seller of the car needs to get more than if they sold privately, and you as a business need to make profit too. Weather its possible for all 3 to happen simultaneously I’m not so sure



  • #50
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    https://www.boards.ie/discussion/comment/123556328#Comment_123556328

    And the finance company do this for free, and don’t add it on? Business doesn’t work like that.



  • #51
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    That alone works. It’s the warranty that’s the problem. I don’t see how this works (warranty included) and the seller charges materially less than a “dealer”.



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  • #52
    magicbastarder
    Moderators, Category Moderators, Arts Moderators, Sports Moderators, Paid Member Posts: 53,832 CMod ✭✭✭✭magicbastarder


    is this an expansion of the car buy&sell site you were researching five years ago? or did that get off the ground?



  • #53
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    Not sure if already mentioned, aren’t you also missing out on a large chunk of sales… those buyers wishing to use a trade in. While you could offer to sell the trade in it’s unlikely to coincide sufficiently well to be useful.

    Anyone know the % of cars, especially high blvalue, bought without a trade in?



  • #54
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123556464#Comment_123556464

    We are catering for trade ins our platform has a feature to upload trade in vehicle details and the platform seeks best offers from a large network of car dealers. It will obviously only achieve trade prices so it remains to be seen if it will be a success



  • #55
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123556430#Comment_123556430

    Thanks for the business studies tip 😆. All businesses pay acquisition costs, one way or another (commission etc) - that's how business works as I understand it. Acquisition costs here involves paying for warranty



  • #56
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123556447#Comment_123556447

    No. Was researching but didnt execute for whatever reason at the time - possibly the global pandemic



  • #57
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    https://www.boards.ie/discussion/comment/123557002#Comment_123557002

    call it what you like, businesses don’t take on unlimited warranty for a year on €10k cars without passing it on.



  • #58
    carfinder
    Registered Users, Registered Users 2 Posts: 372 ✭✭carfinder


    https://www.boards.ie/discussion/comment/123557220#Comment_123557220

    Im not sure if you're trying to be helpful? I suspect not to be honest!

    Earlier in the thread I mentioned that the warranties will be provided by a reputable insurer - the finance company is paying fixed cost of acquisition (the insurance premium) so there is no "unlimited warranty" exposure - thats how insurance works (another business studies 101 lesson 😆)



  • #59
    User1998
    Registered Users, Registered Users 2 Posts: 9,925 ✭✭✭User1998


    I suspect there is some good owl Irish begrudging going on in this thread.. God forbid someone trys to take on the market place who have increased their add prices from €5 to €50 in the past 5 years



  • #60
    goochy
    Registered Users, Registered Users 2 Posts: 5,194 ✭✭✭goochy


    I think the markets too small . Also when inspection company does report on car they are bound to find some faults. Most people will only buy a car with no known faults . If you don't know about cars any fault would put you off



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  • #61
    Avatar in the Post
    Registered Users, Registered Users 2, Paid Member Posts: 895 ✭✭✭Avatar in the Post


    https://www.boards.ie/discussion/comment/123557271#Comment_123557271

    Buddy, you’ll be fine. You’ve all the answers 💪



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