Dealer’s Diary
Business model
Could you imagine if it was announced that M&S was responsible for taking back your old underwear once you’d finished with it? What’s more, they then had to re-sell it – at a price you decided? Their share prices would be worthless as the business model would be derided as lunacy. Yet that’s effectively what us car dealers are expected to do time and again. During the corona crisis I got a phone call from a customer I’d sold a car to seven years previously. They’d had their licence taken away for health reasons. Their car had stood unmoved, outside for the past six plus months.
A former colleague of mine is a buyer for one of those firms that will absolutely buy your car. During lockdown he was buying cars for 50% of book, but with the proviso that the cars being offered were both highly desirable and in top nick. Brutally,
