My wife has TBX - the first blue one! She's happy with it. Phoned me doing her first supercharge at Winchester on the way back from London, stopping to see an old friend in the city, before coming back to Somerset.
I keep daring myself to drive to Fully Chared in the LEAF and take the logbook, just incase 😂. Drive back in a Tesla. Wife would be like “You did WHAT!?”
@@chandtailor I was actually considering going to Farnbourgh to eye something new but decided if I’m going, it’ll be cheaper for me to hire a Polestar for £90 and drive down charging at SUC, for the same cost as higher price charging driving the LEAF down, probably adding about 2hrs to the journey with slower charging too.
We bought a used model S from you and very happy with it. 5% margin isn’t great.I would have assumed at least £1500-£2000 on a £20k car. Thanks for being so transparent.
Ive been in the industry 40+ years, and I endorse your prep policy 💯 % . Your openess is remarkable, and even then, you've missed some costs, notably stock funding interest and business rates. Live long and prosper!
Brilliant Richard , yes honest dealers like you dont eat cavier for breakfast or burn £50 notes to keep warm ! You'll get more customers off the back of this honest transparent video 👍👏 Best regards Retired EV dealer Jonathan Porterfield 😊
I can't imagine a better advert for your business with such an honest direct video as this. I will keep an eye on your site for the older Model S I'm searching for!
Thank you for this open book approach! As a business owner myself, it challenges my patience when customers ignore hidden costs such as staff, insurance and energy inputs along with property and capital costs just to reliable offer our products and services. Great value cars so wishing you and your customers well.
But there are businesses that really know how to charge, some solar panel companies for instance. I manage a commercial workshop, Daf parts prices go up massively every year, we needed a part the other day £450 from Daf, £25 for a Febi one, go figure.
Big ups the RSEV team - bought an M3P a month or so back and they were great to deal with and put the effort in to make it feel like a “new” car. Really open on a couple of niggles to be covered under warranty by Tesla which were sorted. Would 100% recommend!
Whenever I buy a car I always get the feeling that I'm being screwed over royally by the dealer, so it was interesting to watch your presentation and explanation of things. For what it's worth I'd definitely buy a car off you. Cheers.
I appreciate you helping people get into a used Tesla. As an owner of a few private businesses, I realize how difficult it is to clear a profit that allows you a decent living.
Very good. People have no idea what goes into sourcing, prepping, selling and then backing a used car with decent customer service. Well worth contrasting with a home trader who does none of these things, takes no responsibility and still pitches close to a dealer retail price. To add insult to injury, also then not paying margin VAT and almost certainly dodging income tax as well. I always say that as you head past, what, £10k good quality dealers really start to come into their own over a good private sale. On the other hand, I'd never buy a sub £5k car from a dealer as effectively you're buying a £3-3.5k car. The overhead, refurb, profit and warranty costs are a huge % of what you pay, just about of of which evaporate the minute they hand you the keys. Anyway, a brilliant video to put out: ultimately really good dealers work bloody hard for their money.
Turning over a higher volume at lower rev per unit on clean vehicles sounds like a much tidier business. Don’t want funds tied up like you said. Your margins are pretty close to what I expected. Tax man is always there with his hand out no matter where you do business. Love your videos. Keep up the great work.
Thank you Richard for the transparency, upgrading my car for a model 3 next year & have researched thoroughly. When Tesla Winchester recommended you that was enough for me. See you next year.
Very eye opening video Richard. I’m just beginning my 4th and final year of my current model 3 lease agreement. I know who I will be contacting before September 2025.
Just a quick question, don't you think leasing costs you more than buying a second hand one for £24k? All the money you have spent for leasing is kind of wasted right? Like paying for a rented flat.
I'm up in Nottm. and can already say if I were looking to buy, I really would find a way to come down to you and buy. I'm driving an S3 and am still watching your channel with interest. Just a great team; loads of info; "honest as the day is long" is what keeps me coming back, and of course I enjoy the video's. This one suprised me in that you're sharing your business costs and profit and for that, I am impressed. Totally transparent and very informative for someone like me, who has no clue whatsoever about it and thinks you're making thousands on every car because "you must be". Thanks Richard & team 👍🏻😄
I have been thinking about a Tesla for some time and came across this channel when doing some research. Love this channel, the most transparent and honest bunch of guys :)
Gosh, Richard... 5-7% margins before tax etc seems really low - I would've assumed dealers would have had at least double that, if someone had've asked me.... WOW...! You know what, though... the mere fact that you were 'brave' / honest enough to make this video shouts volumes about your integrity and openness and, without doubt, will increase your reputation and, consequently, your business's sales in the future. Bravo, sir... Bravo... 👏
The 9 years of experience you have is something we buyers can not factor in but should and the trust you have earned is why we buy from you.. great vid, much appreciated..
We've been waiting for this one Richard! My wife is very happy with TBX and we see her trade-in (that you gave a very fair price for) get advertised and very promptly sold, or at least not listed any more, still in the showroom during your introduction. I highly recommend buying from you - the way you handled the sale to her was exemplary. Some of the horror stories I have seen from people buying from car 'supermarkets' where many of the staff appear have no idea of what needs to be done when you sell one are just ghastly. Thanks to you and Joe, Serge and Lewis for your time and patience.
I was one of the commenters on the other video saying why didnt tell us the prices Profit isnt a dirty word, I think this video will beneficial to your business. Good video, good bloke, seems like a good business to me, I'd buy from you
Another great video following on from when you first bought these cars, another video that I loved. Fair play to you for being so candid about your process; very brave !! I could never see myself doing anything like this with my business. I just hope people watching this appreciate that your figures could even be optimistic as buildings, staff and other overheads are cash burning machines and I’d say from your figures you have to sell at least 1 car per member of staff per week plus 2 cars to cover other overheads BEFORE you pay yourself and I hope your efforts are rewarded well as you seem to run a great business sand do so with integrity. Thanks so very much for this exceptional and unbelievably honest video 👏👏👏
Thank you for the honest transparent video. Honesty is a rare commodity these days and if anything it would greatly increase my trust in you / your dealership and it would make drive miles further to buy from you because I know I’ll be buying a car to a minimum standard. Just my humble opinion but I think you should be able to make more in each car for your efforts. Great video and sets people’s expectations
Such a great video. I handed back my Model 3P to the finance company in July and took delivery of the new one a few days later straight from the docks. I hadn't realized that the margins are so tight on the used cars. You will certainly get my business if I buy a used EV.
I called on you a few weeks ago seeing a client locally and actually met you and a lovely young man working there and you seemed very friendly I spoke a little to the young man and he struck me as very professional. I have since put a new order for a model Y. I test drove one and could not believe it having been a petrol head. Your right about profits we do works for the Penton Group and can say they really don’t earn what they are thought to. It’s about volume at the end of the day. The days you get caught out. Was very impressed with your prep work especially in tyres. Well done great video and thanks Damian Ringwood New Forest
I think you and your team do great service for ev buyers and for Tesla owners. It's super to see you bringing these cars back to showroom condition. I recommend you to friends looking for their first ev and/or used Tesla. Hope you make lots of money too!
These are typically low risk with minimal post sale or warranty implication. One in and out each day is just fine. Other things can yield bigger margins but the 3s are as I say, bread and butter
Very interesting video. I've was in the machine tool business for many years and have always said that anyone can sell, it's the buying that's the difficult bit. What a good dealer does is take the risk out of buying for the end user. Thanks for being so honest - I'd definitely buy a car from you!
The thing that impressed me most about your setup is your mechanic using a notebook/pen to record the work to be done - low cost, more efficient and easy for others to find out what's going on. No mucking about with a tablet... quite ironic considering the leading-edge techno world that is associated with Teslas.... 🤓
Great video, I tried to buy a mode 3 from you back in December, but you didn't have any in stock when I called. I found another at a different dealer, when I need to upgrade you'll be my first call.
Looks like a 3 to 5 percent ROI before tax. It really is a volume game isn't it? Great video. Thanks very much. Strangely, it actually makes me feel better about paying a premium price for my Tesla M3 LR in 2021 and comparing it to what it is worth now.
Respect, Richard and Team! Very eye opening. Thanks for being so transparent around your business in recent videos. Looking forward to dropping off my Model 3 for brokerage sale soon!
Fantastic video! Your experience and honesty absolutely shines through all of your content. You’re 3 hours away from me but I promise I’ll be coming to you when the time is right to buy my first Tesla! Thank you. 👏
Great Vid. Shows how precarious buying and sellling is for proper reselling dealers like RSymons. Retaining between 3 and 5% profit and having to keep at least 20 (time pressured) cars in stock at an average of 23k each!!. Having building and staffing costs to consider also. It’s not for the faint hearted. Thanks for giving a glimpse behind the curtain.😊
Love the transparency, Richard. I’ve been watching your videos for years and this is yet again showing me the honesty you have in your business. I would certainly be checking out your dealership if I were in the UK and not California.
Great video to help people understand the concept of margin and especially the impact of overheads and taxation. Plus the hidden costs - giving your own time to make videos. But if a gamble being so open but I for one think it’s a success
Something tells me these guys are the exception to the norm. Most car dealers see you coming, and dollar signs start rolling over in their eyes. This proves there are still honest people in the world. My motor mechanic also has the same philosophy does good work and is also very reasonably priced. Great to deal with these sorts of people, they are a real rarity.
RSEV sold my M3P for me on sale or return in 2020 and they were amazing to deal with. When the time comes to replace our petrol Mini Cooper, I’ll be looking at their website first!
Fascinating! I would be interested in knowing if you buy any cars from car rental companies (e.g. Hertz) and if so, what has been you experience prepping and selling those cars. Here's an idea for another fun video: walk us through a few of your money-loosing car stories.
Real eye opener, I’ve been looking for the right priced, right year, right spec’s Model 3 for a few months and although I been following you since well before I bought my last Tesla I always regarded you card as too high quality for my wallet but having seen how little margin you make but what an effort you make in prepping them I will have to take a closer eye on your stock.
Great video 👍. You're right, people will see the auction purchase price and then your sale price and think you're making a killing. Looks like it's a numbers game of getting them in and out to make the money though. I'll be sure to check you out in the spring for my first ev purchase.
Great video, surprised how little you make on each car, good that you specialise in a certain car, I bought a Audi Q4 40 s line with 7 miles on at £44,000, really pleased with the car, am aware EV's have dropped in price a lot, but got a feeling EV's will stabilise now. Yours are great value
For such a honest video And very reasonable mark up and not being greedy like many dealers are Im gonna like and subscribe to this channel to watch more
Thanks Richard for such a transparent video. Loved the buying process from RSEV, knowing that you are buying from a reputable and knowledgeable dealership. Will definitely buy my next EV from them.
really informative video, seeing that breakdown I'd be more than happy to buy a car from you, everyone who has a business has to make money or they are not in business!
I love your video and plain taking. Margin is necessary; we all gotta eat. I also love your attention to detail; especially on things like bodywork and my pet peeve (I can't mismatching tyres). That often tells me more about a car than many other details.
That's really interesting! My lease car (March 2021 M3LR) went back to the lease company in July this year with 63k miles in pretty good condition (apart from a scuff on the NS rear wheel arch), all wheels and tyres very good. It was sold through BCA very soon after. In August, completely by chance I found it for sale (at a notoriously bad car supermarket!) and decided I wanted it back because it had been such a great car for me and I obviously knew the history. They'd smart repaired the scuff (OK but maybe a 8/10 repair) and I drove it away for £20k. The mats, memory stick and service receipts were missing, but other than that it's been fine. Based on your shared experience I think I did OK!
Great video and satisfied my long standing curiosity! Given the quality standards you set, the markup seems completely reasonable for the peace of mind it will give your customers.
In our case (my wife bought TBX) we certainly agree. Looking on Autotrader similar cars are close to £24k and I very much doubt they would be as well prepared and carefully handed over. Well worth the 'additional' £550 and Richard gave her what we hoped for her trade-in (which they have already sold) and dealing with an honest car dealer, who we 'know' through the RUclips videos gave her a lot of confidence too.
Interesting video thanks - the moral for me is, if I was buying a model 3, best buy it from you: worth paying your price for peace of mind - knowing that the car is properly sorted
Not as much profit as I thought, small margins but good quick turnover spreads the overheads I suppose. Still enjoying my black Model X with the Kermit green badges I bought from you last summer. Brilliant car 😁
Wow - very very thin margins indeed! Definitely not worth taking the risk of buying privately if you are only making that little! I assumed you would be making at least £3k per car gross
He’s realistic with margins for volume. The traders or youtube “bros” always going for huge profits get burned and units sit on floorplan forever. I sell my cars 1000-1500 profit. Actually id try to unload at a wholesaler first before private. Wholesaler means no reconditioning needing
Good video and shows the unseen costs and potential pitfalls of being a dealer, thanks for heads up regarding the steering wheel, my 2021 RWD has a mild issue but will leave it until next Nov before booking it in for replacement under warranty …hopefully.
Hi Richard, another great video, very transparent. A lot of work goes in with tight margins, but it is great to see for buyers who may want to make the move to electric. This shatters some of the misinformation on secondhand EV’s.
Great Video......keep up the content people dont realise the costs ....they just think u magically buy them for nothing and live the life of a millionaire 🙂
Just had to spend £6.3k on my 108,000 mile Mod 3 long range 🤑. Rear suspension issues, leaking rear dampers, new brake discs & pads. It also turned out that the front brake caliper bolts had completely seized up so had to get new calipers and hoses and a few underbody panels. Oh aye, and the tow bar cover had fallen off on mine as well. I'd recommend getting the brakes checked and loosened off and re tightened every 18months or so.
Great video, Richard! You definitely earn those profits, and it wouldn't make sense to be in business if you made any less. If I lived in the UK, I'd buy my used EV from you.
I keep an eye on your channel because it’s interesting. I’ll now seriously consider you when looking for my next car. I Like your perfectionism and professionalism!
Very interesting and insightful content. While I am sure margins are thinner on some cars versus others, making a profit is not a dirty word, profit is a living just like any trade or profession.
Well done mate. Thanks for being so transparent frightening how all the margins are for you as a business to try and make some money out of it and profit.
Some dealers seem to cost labour at a high rate for things like changing a TPMS sensor. At a 'prestige' marque it can be expensive. Bottom line, Tesla is a 'bread and butter' car in the UK. Great video!!
The great thing about your set up is that when you buy a car in, you sort out all the problems before you sell on. The Tesla is a great car, but getting work done is very expensive and time consuming for someone who buys their car from the auction, or dealers who know little about the car.
Great video, if I was in the UK I would come and see you but am in New Zealand. It seems to be getting a lot more acceptable to buy used EVs, Tesla is my go to. Cheers.
REALLY appreciate that video as a tesla owner. I’d say you should be making more! Very fine margins sir! How do you pay the salaries of your staff? I can’t imagine RUclips adds much at the moment. Amazing work flying the flag and running a quality business associated with a progressive car brand worth supporting IMO
Richard, great enlightening video. The video's you produce are always interesting, have you ever determined the value your RUclips channel added to the RSEV?
Love the honesty about the costs and profits Here in Canada(well i’m in the UK now) the ex Hertz rental cars were all auctioned with buy it now prices. Many good examples to choose from and price points. Now you have people trading in for highlands and good private ownership older models heading to auction.
❤😊 thank you most interesting and informative 👍 I visited you, you' all came across very professional, honest very friendly most of all, you all seem to love what you do and know so much about clean transport well done a model business ... 😊. maybe second-hand car dealers have a reputation because they sell toxic cars and behave in toxic ways 😂 People that sell Tesla's are nice enthusiasts ❤ it helps sell good products ❤️✌️ ❤ definitely recommend RSEV and when I'm in the market for a Tesla the first call will be RSEV 😊
Great video, glad to get some insight into the way you do business. Would definatly buy from you but your a long way from me. Look forward to seeing more content from your chanel
Great video thanks for sharing, quite refreshing and I pretty sure most people are quite happy to pay that bit more for a car they know is in great used condition.
Always the same, as a business you take all the risk but the government takes a significant portion of the profit. Says a lot about you as a businessman that you are prepared to be so transparent about your expenses and margins 👍
Your reputation amongst Tesla owners is second to none. If you do 20 cars a month's not bad money I would buy used from you just from your experience . I just leased new Model Y Dealers in Surrey want to make £3 on a 25 k car
Well done putting the real figures out there. Enough to turn some business and make an honest living for you and your employees. But by no means lucrative to be away on a jet set lifestyle. As you say some folks see the gross, less the unit cost and forget about all the other overheads especially the tax man, the hidden overhead.
I think some of the maths was out on the white car and profit margin. Interesting to see a breakdown of figures - a sales rep in a Nissan dealer told me there was around £500 profit in most car sales recently and I didn't believe them at the time
I'm currently the proud owner of the white one! Thank you guys again for your help and professionalism. I could not find a better dealer!
My wife has TBX - the first blue one! She's happy with it. Phoned me doing her first supercharge at Winchester on the way back from London, stopping to see an old friend in the city, before coming back to Somerset.
Thanks guys for your custom! 🤝 glad to have your business and your involvement in our videos. It’s all very transparent and great for it.
How's the handling with the odd pairs of tyres ?
What a massively transparent video Rich. I dont think many would be so open with us. Thank you for continuing to showcase your industry.
Very honest video. When I am ready to buy my first EV. I will be calling you first 👍.
🤝
Same, either from Tesla or RSEV
I keep daring myself to drive to Fully Chared in the LEAF and take the logbook, just incase 😂. Drive back in a Tesla.
Wife would be like “You did WHAT!?”
@@salibaba do it!
@@chandtailor I was actually considering going to Farnbourgh to eye something new but decided if I’m going, it’ll be cheaper for me to hire a Polestar for £90 and drive down charging at SUC, for the same cost as higher price charging driving the LEAF down, probably adding about 2hrs to the journey with slower charging too.
We bought a used model S from you and very happy with it. 5% margin isn’t great.I would have assumed at least £1500-£2000 on a £20k car. Thanks for being so transparent.
Ive been in the industry 40+ years, and I endorse your prep policy 💯 % . Your openess is remarkable, and even then, you've missed some costs, notably stock funding interest and business rates. Live long and prosper!
Brilliant Richard , yes honest dealers like you dont eat cavier for breakfast or burn £50 notes to keep warm !
You'll get more customers off the back of this honest transparent video 👍👏
Best regards
Retired EV dealer
Jonathan Porterfield 😊
Do crooked dealers burn £50 notes to keep warm then? 😏
@@disarchitected no i mean good dealers are not ROLLING in cash !
Very honest and helpful video. Thanks.
I can't imagine a better advert for your business with such an honest direct video as this. I will keep an eye on your site for the older Model S I'm searching for!
I love a model S, drive one myself at the moment, but you have to be careful with them. I don’t usually buy them though as they’re more risky…
Thank you for this open book approach! As a business owner myself, it challenges my patience when customers ignore hidden costs such as staff, insurance and energy inputs along with property and capital costs just to reliable offer our products and services. Great value cars so wishing you and your customers well.
But there are businesses that really know how to charge, some solar panel companies for instance. I manage a commercial workshop, Daf parts prices go up massively every year, we needed a part the other day £450 from Daf, £25 for a Febi one, go figure.
Blimey, you need to shift a lot of cars to make any money 😬
I met the person who bought the first of the three. Very pleased with it and spoke very highly of your team.
Big ups the RSEV team - bought an M3P a month or so back and they were great to deal with and put the effort in to make it feel like a “new” car. Really open on a couple of niggles to be covered under warranty by Tesla which were sorted. Would 100% recommend!
Whenever I buy a car I always get the feeling that I'm being screwed over royally by the dealer, so it was interesting to watch your presentation and explanation of things. For what it's worth I'd definitely buy a car off you. Cheers.
I appreciate you helping people get into a used Tesla. As an owner of a few private businesses, I realize how difficult it is to clear a profit that allows you a decent living.
I appreciate your honesty, I thought you’d make more than that. I also like that you want these cars going out as pristine as they can, well done!
Still the UK’s Best EV specialist,cheers guys 👍
Good to see that you do a good job at refurbishing the cars despite your thin profit margins.
Very good. People have no idea what goes into sourcing, prepping, selling and then backing a used car with decent customer service.
Well worth contrasting with a home trader who does none of these things, takes no responsibility and still pitches close to a dealer retail price. To add insult to injury, also then not paying margin VAT and almost certainly dodging income tax as well.
I always say that as you head past, what, £10k good quality dealers really start to come into their own over a good private sale.
On the other hand, I'd never buy a sub £5k car from a dealer as effectively you're buying a £3-3.5k car. The overhead, refurb, profit and warranty costs are a huge % of what you pay, just about of of which evaporate the minute they hand you the keys.
Anyway, a brilliant video to put out: ultimately really good dealers work bloody hard for their money.
Turning over a higher volume at lower rev per unit on clean vehicles sounds like a much tidier business. Don’t want funds tied up like you said. Your margins are pretty close to what I expected. Tax man is always there with his hand out no matter where you do business.
Love your videos. Keep up the great work.
Thank you Richard for the transparency, upgrading my car for a model 3 next year & have researched thoroughly. When Tesla Winchester recommended you that was enough for me. See you next year.
Very eye opening video Richard. I’m just beginning my 4th and final year of my current model 3 lease agreement. I know who I will be contacting before September 2025.
Just a quick question, don't you think leasing costs you more than buying a second hand one for £24k? All the money you have spent for leasing is kind of wasted right? Like paying for a rented flat.
@@Manoharan You couldn’t buy a £24K second hand model 3 in 2021.
@@robinparkes988 I know but when you initially bought it, didn't you think this through?
I'm up in Nottm. and can already say if I were looking to buy, I really would find a way to come down to you and buy. I'm driving an S3 and am still watching your channel with interest. Just a great team; loads of info; "honest as the day is long" is what keeps me coming back, and of course I enjoy the video's. This one suprised me in that you're sharing your business costs and profit and for that, I am impressed. Totally transparent and very informative for someone like me, who has no clue whatsoever about it and thinks you're making thousands on every car because "you must be". Thanks Richard & team 👍🏻😄
I was guessing £4000 profit before i watched the video... quite surprised by the figures.
I have been thinking about a Tesla for some time and came across this channel when doing some research. Love this channel, the most transparent and honest bunch of guys :)
Gosh, Richard...
5-7% margins before tax etc seems really low - I would've assumed dealers would have had at least double that, if someone had've asked me.... WOW...!
You know what, though... the mere fact that you were 'brave' / honest enough to make this video shouts volumes about your integrity and openness and, without doubt, will increase your reputation and, consequently, your business's sales in the future.
Bravo, sir... Bravo... 👏
The 9 years of experience you have is something we buyers can not factor in but should and the trust you have earned is why we buy from you.. great vid, much appreciated..
We've been waiting for this one Richard! My wife is very happy with TBX and we see her trade-in (that you gave a very fair price for) get advertised and very promptly sold, or at least not listed any more, still in the showroom during your introduction.
I highly recommend buying from you - the way you handled the sale to her was exemplary. Some of the horror stories I have seen from people buying from car 'supermarkets' where many of the staff appear have no idea of what needs to be done when you sell one are just ghastly.
Thanks to you and Joe, Serge and Lewis for your time and patience.
Thanks for being a customer! 🤝
I was one of the commenters on the other video saying why didnt tell us the prices
Profit isnt a dirty word, I think this video will beneficial to your business.
Good video, good bloke, seems like a good business to me, I'd buy from you
Another great video following on from when you first bought these cars, another video that I loved. Fair play to you for being so candid about your process; very brave !! I could never see myself doing anything like this with my business. I just hope people watching this appreciate that your figures could even be optimistic as buildings, staff and other overheads are cash burning machines and I’d say from your figures you have to sell at least 1 car per member of staff per week plus 2 cars to cover other overheads BEFORE you pay yourself and I hope your efforts are rewarded well as you seem to run a great business sand do so with integrity. Thanks so very much for this exceptional and unbelievably honest video 👏👏👏
Thank you for the honest transparent video. Honesty is a rare commodity these days and if anything it would greatly increase my trust in you / your dealership and it would make drive miles further to buy from you because I know I’ll be buying a car to a minimum standard. Just my humble opinion but I think you should be able to make more in each car for your efforts. Great video and sets people’s expectations
Everone thinks there is easy money to be made. This is an excellent video that shows whats involved. I wish all dealers were like this.
Such a great video. I handed back my Model 3P to the finance company in July and took delivery of the new one a few days later straight from the docks. I hadn't realized that the margins are so tight on the used cars. You will certainly get my business if I buy a used EV.
I called on you a few weeks ago seeing a client locally and actually met you and a lovely young man working there and you seemed very friendly I spoke a little to the young man and he struck me as very professional. I have since put a new order for a model Y. I test drove one and could not believe it having been a petrol head. Your right about profits we do works for the Penton Group and can say they really don’t earn what they are thought to. It’s about volume at the end of the day. The days you get caught out. Was very impressed with your prep work especially in tyres. Well done great video and thanks Damian Ringwood New Forest
Honest videos like this actually helps you a lot in different ways. People always like honest people and happy to pay for their work.
I think you and your team do great service for ev buyers and for Tesla owners. It's super to see you bringing these cars back to showroom condition. I recommend you to friends looking for their first ev and/or used Tesla. Hope you make lots of money too!
This shows that is it is easier to make £1k on a thousand cars rather than £1m on one car…Rotation, rotation, rotation…Great video
These are typically low risk with minimal post sale or warranty implication.
One in and out each day is just fine.
Other things can yield bigger margins but the 3s are as I say, bread and butter
Very interesting video. I've was in the machine tool business for many years and have always said that anyone can sell, it's the buying that's the difficult bit. What a good dealer does is take the risk out of buying for the end user. Thanks for being so honest - I'd definitely buy a car from you!
The thing that impressed me most about your setup is your mechanic using a notebook/pen to record the work to be done - low cost, more efficient and easy for others to find out what's going on. No mucking about with a tablet... quite ironic considering the leading-edge techno world that is associated with Teslas.... 🤓
Great video, I tried to buy a mode 3 from you back in December, but you didn't have any in stock when I called. I found another at a different dealer, when I need to upgrade you'll be my first call.
Looks like a 3 to 5 percent ROI before tax. It really is a volume game isn't it? Great video. Thanks very much. Strangely, it actually makes me feel better about paying a premium price for my Tesla M3 LR in 2021 and comparing it to what it is worth now.
Love the video Richard and team. Amazing to see a dealer that will go the extra mile improving even minor issues.
Respect, Richard and Team! Very eye opening. Thanks for being so transparent around your business in recent videos. Looking forward to dropping off my Model 3 for brokerage sale soon!
Fantastic video! Your experience and honesty absolutely shines through all of your content. You’re 3 hours away from me but I promise I’ll be coming to you when the time is right to buy my first Tesla! Thank you. 👏
If I lived in the UK I’d 100% be buying from your place, good honest trader 👍🏼
Great Vid. Shows how precarious buying and sellling is for proper reselling dealers like RSymons. Retaining between 3 and 5% profit and having to keep at least 20 (time pressured) cars in stock at an average of 23k each!!. Having building and staffing costs to consider also. It’s not for the faint hearted. Thanks for giving a glimpse behind the curtain.😊
Great video. You have to put a value on reputation and integrity and developing consumer trust. Anyone watching this who wants a tesla, go buy.
Love the transparency, Richard. I’ve been watching your videos for years and this is yet again showing me the honesty you have in your business. I would certainly be checking out your dealership if I were in the UK and not California.
Great video to help people understand the concept of margin and especially the impact of overheads and taxation. Plus the hidden costs - giving your own time to make videos.
But if a gamble being so open but I for one think it’s a success
Something tells me these guys are the exception to the norm. Most car dealers see you coming, and dollar signs start rolling over in their eyes. This proves there are still honest people in the world. My motor mechanic also has the same philosophy does good work and is also very reasonably priced. Great to deal with these sorts of people, they are a real rarity.
RSEV sold my M3P for me on sale or return in 2020 and they were amazing to deal with. When the time comes to replace our petrol Mini Cooper, I’ll be looking at their website first!
Fascinating! I would be interested in knowing if you buy any cars from car rental companies (e.g. Hertz) and if so, what has been you experience prepping and selling those cars. Here's an idea for another fun video: walk us through a few of your money-loosing car stories.
Real eye opener, I’ve been looking for the right priced, right year, right spec’s Model 3 for a few months and although I been following you since well before I bought my last Tesla I always regarded you card as too high quality for my wallet but having seen how little margin you make but what an effort you make in prepping them I will have to take a closer eye on your stock.
Great video 👍. You're right, people will see the auction purchase price and then your sale price and think you're making a killing. Looks like it's a numbers game of getting them in and out to make the money though. I'll be sure to check you out in the spring for my first ev purchase.
Great content. Margins look very reasonable for what you actually do. I'd happily buy from you.
Great video, surprised how little you make on each car, good that you specialise in a certain car, I bought a Audi Q4 40 s line with 7 miles on at £44,000, really pleased with the car, am aware EV's have dropped in price a lot, but got a feeling EV's will stabilise now. Yours are great value
For such a honest video
And very reasonable mark up and not being greedy like many dealers are
Im gonna like and subscribe to this channel to watch more
Thanks Richard for such a transparent video. Loved the buying process from RSEV, knowing that you are buying from a reputable and knowledgeable dealership. Will definitely buy my next EV from them.
really informative video, seeing that breakdown I'd be more than happy to buy a car from you, everyone who has a business has to make money or they are not in business!
Great to see an honest perfectionist at work.
I love your video and plain taking. Margin is necessary; we all gotta eat. I also love your attention to detail; especially on things like bodywork and my pet peeve (I can't mismatching tyres). That often tells me more about a car than many other details.
Good watch thanks . Had a laugh at the add on swivel mount, admission of design error :D
I am very happy my screen doesn’t swivel. My ocd would be continously adjusting it
Breaks the stereotype a lot of people apply to all dealers, very interesting too 👍
That's really interesting! My lease car (March 2021 M3LR) went back to the lease company in July this year with 63k miles in pretty good condition (apart from a scuff on the NS rear wheel arch), all wheels and tyres very good. It was sold through BCA very soon after. In August, completely by chance I found it for sale (at a notoriously bad car supermarket!) and decided I wanted it back because it had been such a great car for me and I obviously knew the history. They'd smart repaired the scuff (OK but maybe a 8/10 repair) and I drove it away for £20k. The mats, memory stick and service receipts were missing, but other than that it's been fine. Based on your shared experience I think I did OK!
I honestly thought you were swimming in money! With your knowledge, experience and margins, I will definitely be coming to you for my next car.
Great video if I was going to buy a Tesla I would find were out where you guys are my type of people.
Great video Richard, if only all dealers were so transparent.
I find myself feeling sorry for a used car dealer. Sheeesh! Honestly, I don't know why you bother at those margins.
Great video and satisfied my long standing curiosity! Given the quality standards you set, the markup seems completely reasonable for the peace of mind it will give your customers.
As a customer, paying the margin for your expertise in checking and preparing the car plus after sales support is money well spent in my opinion.
In our case (my wife bought TBX) we certainly agree. Looking on Autotrader similar cars are close to £24k and I very much doubt they would be as well prepared and carefully handed over. Well worth the 'additional' £550 and Richard gave her what we hoped for her trade-in (which they have already sold) and dealing with an honest car dealer, who we 'know' through the RUclips videos gave her a lot of confidence too.
Interesting video thanks - the moral for me is, if I was buying a model 3, best buy it from you: worth paying your price for peace of mind - knowing that the car is properly sorted
Not as much profit as I thought, small margins but good quick turnover spreads the overheads I suppose.
Still enjoying my black Model X with the Kermit green badges I bought from you last summer.
Brilliant car 😁
Wow - very very thin margins indeed! Definitely not worth taking the risk of buying privately if you are only making that little! I assumed you would be making at least £3k per car gross
He’s realistic with margins for volume. The traders or youtube “bros” always going for huge profits get burned and units sit on floorplan forever. I sell my cars 1000-1500 profit. Actually id try to unload at a wholesaler first before private. Wholesaler means no reconditioning needing
Good video and shows the unseen costs and potential pitfalls of being a dealer, thanks for heads up regarding the steering wheel, my 2021 RWD has a mild issue but will leave it until next Nov before booking it in for replacement under warranty …hopefully.
Hi Richard, another great video, very transparent. A lot of work goes in with tight margins, but it is great to see for buyers who may want to make the move to electric. This shatters some of the misinformation on secondhand EV’s.
Great Video......keep up the content people dont realise the costs ....they just think u magically buy them for nothing and live the life of a millionaire 🙂
Just had to spend £6.3k on my 108,000 mile Mod 3 long range 🤑. Rear suspension issues, leaking rear dampers, new brake discs & pads. It also turned out that the front brake caliper bolts had completely seized up so had to get new calipers and hoses and a few underbody panels. Oh aye, and the tow bar cover had fallen off on mine as well. I'd recommend getting the brakes checked and loosened off and re tightened every 18months or so.
And that’s why you have to service a car every year even evs but all the ev fanboys say you don’t
Breaking my bloody heart, never seen a poor car trader yet.
Great video, Richard! You definitely earn those profits, and it wouldn't make sense to be in business if you made any less. If I lived in the UK, I'd buy my used EV from you.
I keep an eye on your channel because it’s interesting. I’ll now seriously consider you when looking for my next car. I Like your perfectionism and professionalism!
Very interesting and insightful content. While I am sure margins are thinner on some cars versus others, making a profit is not a dirty word, profit is a living just like any trade or profession.
When I’m ready to buy an EV I’ll know where to come Richard, as you know your stuff! 🙂👍
Problem is EVs are failing big style in the UK and no one I should think would want to buy a second hand one
Thanks for the video. I think your profit margins are very reasonable. Good wishes
Great video & I had no idea the margins were so tight; assumed you'd make at least 10%
If you don't mind me asking, how many cars do you sell a month (on average) Richard..?
Very honest and open review….vey fair indeed considering all the unknowns you could have…thank you!
Excellent and interesting vlog, you’ve just acquired a new subscriber kind regards and take care, Mark from Billericay 😃😃👍👍
Well done mate. Thanks for being so transparent frightening how all the margins are for you as a business to try and make some money out of it and profit.
Some dealers seem to cost labour at a high rate for things like changing a TPMS sensor. At a 'prestige' marque it can be expensive.
Bottom line, Tesla is a 'bread and butter' car in the UK.
Great video!!
The great thing about your set up is that when you buy a car in, you sort out all the problems before you sell on.
The Tesla is a great car, but getting work done is very expensive and time consuming for someone who buys their car from the auction, or dealers who know little about the car.
Great video, if I was in the UK I would come and see you but am in New Zealand. It seems to be getting a lot more acceptable to buy used EVs, Tesla is my go to. Cheers.
REALLY appreciate that video as a tesla owner. I’d say you should be making more! Very fine margins sir! How do you pay the salaries of your staff? I can’t imagine RUclips adds much at the moment. Amazing work flying the flag and running a quality business associated with a progressive car brand worth supporting IMO
Richard, great enlightening video. The video's you produce are always interesting, have you ever determined the value your RUclips channel added to the RSEV?
Love the honesty about the costs and profits
Here in Canada(well i’m in the UK now) the ex Hertz rental cars were all auctioned with buy it now prices. Many good examples to choose from and price points. Now you have people trading in for highlands and good private ownership older models heading to auction.
❤😊 thank you most interesting and informative 👍 I visited you, you' all came across very professional, honest very friendly most of all, you all seem to love what you do and know so much about clean transport well done a model business ... 😊. maybe second-hand car dealers have a reputation because they sell toxic cars and behave in toxic ways 😂 People that sell Tesla's are nice enthusiasts ❤ it helps sell good products ❤️✌️ ❤ definitely recommend RSEV and when I'm in the market for a Tesla the first call will be RSEV 😊
Great video, glad to get some insight into the way you do business. Would definatly buy from you but your a long way from me. Look forward to seeing more content from your chanel
Great video thanks for sharing, quite refreshing and I pretty sure most people are quite happy to pay that bit more for a car they know is in great used condition.
Always the same, as a business you take all the risk but the government takes a significant portion of the profit. Says a lot about you as a businessman that you are prepared to be so transparent about your expenses and margins 👍
Your reputation amongst Tesla owners is second to none.
If you do 20 cars a month's not bad money
I would buy used from you just from your experience .
I just leased new Model Y
Dealers in Surrey want to make £3 on a 25 k car
Well done putting the real figures out there. Enough to turn some business and make an honest living for you and your employees. But by no means lucrative to be away on a jet set lifestyle. As you say some folks see the gross, less the unit cost and forget about all the other overheads especially the tax man, the hidden overhead.
A great honest video there. Need more dealers like this . I would buy from them for sure
Appreciate your honesty and transparency, I will be contacting you when I look to purchase my next car
I think some of the maths was out on the white car and profit margin. Interesting to see a breakdown of figures - a sales rep in a Nissan dealer told me there was around £500 profit in most car sales recently and I didn't believe them at the time
You should see what they go for at auction. we often wonder how some dealers make any profit these days