30 replies to this topic

[r3k1355]

Wow can you imagine how rough the rest of the stock is??

 

Very odd business IMO, what sort of car dealer sits on relatively cheap classics for years on end?

[leyland73]

They had an 1100 Special for sale a few months back. £11,995, was told in excellent condition except for a small amount of rust under the headlamp. Car stored outside and rust spreading happily along the front seam and also round the side of the grill. For that sort of money would not expect to repair the front end. Pity as all the cars seem to be left outside and are slowly deteriorating. When I asked about the cars being outside was told it was only recently moved outside......  C0269923-F21E-4AC3-A30A-84A3C5C50EDD.jpeg   67.36K   7 downloads  11DB139B-0555-4DD4-A25B-60E41FCC5CFF.jpeg   93.15K   3 downloads

[HUBBA.HUBBA]

I just can't believe they are stored on gravel. Nothing like keeping moisture evaporating up to a car.
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Real shame

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Edited by HUBBA.HUBBA, 22 November 2017 - 10:39 PM.

[Shifty]

Makes mine look cheap!!

[leyland73]

From the pictures of that cooper, rust in most of the seams, interior looks damp and mouldy and rear valance about to crumble, absolutely mad business model to buy stock and let them rust like this. Floors will be wet as most minis leak, and seriously overpriced when looking at the condition of the stock.

[CityEPete]

What a waste.

[DomCr250]

Makes mine look cheap!!

Yours are cheap, that's why you sell them.

[DomCr250]

The issue here is more about the economy, since the financial crash banks have been very reluctant to push the companies hard to repay loans.  On top of this the interest rates are still very low for business. 

 

It's known as Zombie companies, no pressure from the banks equals no action. The banks are driven by governments not wanting a high rate of business failure. 

 

So it means they can get cheap finance.  Say all the stock is worth £400K and the interest rate is 2%, this results in just paying £670 a month in interest.

 

So you can see having the stock and playing the market becomes worthwhile ... just one sale a month covers all the costs.

[r3k1355]

Like you said though, a Zombie company.

Little to no sales means little to no growth, they exist but they're not doing much and pulling in unimpressive amounts of profit.

Besides while they "play the market" all their stock is sat rotting outside, depreciating like a stone.

 

Don't forget the owners tried to sell the place not too long ago, no-one is going to invest in a company run that way, in effect it's becoming worthless.

Edited by r3k1355, 23 November 2017 - 02:47 PM.

[Wiggy]

It annoys me that they misdescribe every Sportspack as a Cooper Sport.

They are not the same thing!

[YJO]

The benefit of gc is that if you are a first time buyer you can see a good variety of minis and see where the main rust spots are and know what not to pay !!, and it's a diversion off the m25 if the management needs a bluewater fix.

[surfblue]

A commercial unit in which to keep all that stock would make a lot of sense!

[DeanP]

Like everything in life you can't dictate how someone makes/throws away money.

 

It's just unfortunate this one involves an adorable cheeky looking motor.

[HUBBA.HUBBA]

I find it really frustrating as I'm trying to get something different that's ready to use, but they always seem to be with dealers that sit on them indefinitely

[r3k1355]

Happened with various cars over the years to be fair, speculators buy up lots of available stock when the price is low and sit on them till the price rises.

 

They usually do a better job of looking after them though.