How Much Profit I Made in My First Month as a Used Car Dealer
HTML-код
- Опубликовано: 3 сен 2023
- Today, I'm taking a look back at the first month of High Peak Autos Trading, what cars I bought, what I remember and how much I made!
If you're interested in getting into the used car industry, check out the website below for more information on my online course. It's only £27 per month! There are nearly 100 videos covering a whole range of topics. Plus you can cancel at any time. Click below.
Visit www.highpeakautosacademy.com or click this link bit.ly/3rNtNhG
I'd be grateful if you could give the video a thumbs up and don't forget to subscribe if you're new to the channel.
Check out my website: www.highpeakautos.com
Check out the HIGH PEAK store: www.highpeakstore.co.uk
Follow Me:
Instagram - / highpeakautos
Facebook - / highpeakautos
Twitter - / highpeakautos
High Peak Property: / @highpeakproperty
Thanks for watching.
#highpeakautos #usedcars 
Авто/Мото
I work in a completely different industry but the principles are similar. It doesn’t need to be purely about margin, throughput is the key route to success. I’m seriously impressed at how you’ve grown your business Matt, moreover the ethical way you trade. Your success is well deserved 👏
Thank you. All the best
Congrats on the 8 years, good to see the empire expanding, demonstrates there really is no substitute for simple hard graft👍👍
Very true! Thanks
The way you treated the people is what got you so far, is like you do good, you find good, thumb up 👍
Hi Matt.I am in Ireland.
I have been self employed in the car sales buisness for the last 23 years.
I found you hit a few solid key points there in this video.
Reassuring to hear,especially the one about being a bit harder with people.
Being in Ireland myself, I think car dealers here could learn a lot from Matt, eg service the cars before you sell them, fix any damage to them before you sell them, provide proper after sales care etc. Car dealers in Ireland are a disgrace, shoddy cars being sold for sky high prices and lousy after sales service.
@@davidmehlhorn726couldn’t agree more with this. Veeeeerry unregulated here.
@@davidmehlhorn726I think it would be more fair to say ‘some’ car dealers rather than all. I sold cars in main dealers for 4 years. I was honest, made sure my cars went out right and people got good value for their trade ins. It didn’t matter though because everyone thought I was a crook, doing them out of money etc. the final straw for me was someone saying during covid ‘now ye can actually wear masks when ye are robbing people’. Applied for jobs in pharmaceutical plants, now work less hours, get paid more, get benefits like heathcare, pension etc. have 4 days off every 4 days. What a wind up selling for a main dealer was.
I have always wondered how you legally drive different cars around ? Do you arrange 'blanket' insurance to cover you in any car? Also what about car tax?
@@michealhaskell7258 a trade policy covers you to drive any car, usually with a value limit. The car needs to be taxed and MOT’d like any other. Although I’m sure the police would give you some grace with the tax if you’ve just bought it into stock etc.
Your last words about taking the profit away from the "stock" is the best advice. I have always told other entrepreneurs about how crucial that is. I started out in 2002 (24 years old) as a farm-gardener you know huge loan etc.. But was able to get a decent margin off of it from the market-sale I did and still do, I think I have made 30-40% profit from the turnover every single year since then. But all the profit has gone to other businesses and investments, so I today have a wide range of individual businesses like a plant-nursery for professionals only with hedge, bush and trees. An online gift-card shop, an online building-material shop(gravel, sand, soil etc), local produced watches and interior-design things, an online biofuel business and a property-investment business as well, and of course just like you I am also running an education/course business. But it all runs and are funded thru' the main business that brings the cash-flow. And do you know what - I also started out with moped and later car-trading and a mail order company with tyres, alloy wheels and such stuff like ski boxes etc.. it all came from that, I started at 16 :D
20 years ago I had some fun selling cars. Acquired a rusty but low miles Metro out of someone's garage who wanted the space, so if I made car disappear I got it for free. Jumped it and drove it home, tidied it up underneath and flogged it with no MOT for £80 a few days later.
From the same person (!) I bought an M-reg Escort saloon, in very nice shape, full history with long MOT but not running well that they couldn't sell for £500, so I offered £300 and they took it. I bet it was a disintegrating CAT, had it changed for £200, problem solved, ran it for 3 months then moved it on for £900. Those were the days, so many decent, simple cars to play around with.
Congratulations on your eight year anniversary. You have an amazing memory of the first few cars you bought and sold. Great video as always.
You sir are an inspiration to all young people, I truly believe hard graft pays off in the end. Keep doing what you do, being mindful to look after your isn't well being. Thankyou for your easy to watch vlogs.
Great video again Matt! Really enjoyed it and great respect of how you work, your honesty and transparency!! Keep up the good work, you deserve it!!
Thanks! Will do!
Facinatingly frank. Shows how far you've come, better premises, better stock, the property. For all the hassle and frustration there must be some satisfaction in what you've achevied.
I am not a binge watcher by nature but have found myself bulk watching the various posts you have submitted with some a few years ago the last few weeks. Really interesting and insightful, love your honest and open views. I find myself laughing with customers annoyed that consumables light wiper blades have failed or bulbs have blown!!
4 weeks before lockdown I decided to jack in my high salary High Street Agent job and start a franchise with Yopa. When lockdown came I had to think fast and find a way of standing out as Yopa was an unknown in The Highlands. Your vidoes gave me the idea and inspiration to do vidoes for property. Up here no one was doing that. I now have no1 for market share, just taken on my 3rd agent and have 2 additional staff. My facebook page is now used to help train new people to Yopa as we now get 400k targeted reach a month - and it started with me watching you! Thank you.
The look on Matt’s face when he remembered the first car he sold was a ringer 😂😂
🤣
Lmfao!! You beat met to it!!...... but I recon When he ends his career.... his last car to sell should be a ringer 😅😅🤣
Well done Matt - an arduous journey I am sure but it has paid off and your reputation is intact. Knowing the market, targeting a customer base and diversifying will help - your social media/RUclips promotion is excellent and it creates that aura of professionalism and trust. I have been in the business for years (modern cars, classics and motorhomes of a certain budget) and keep learning, but a well prepared, genuine and good value vehicle will sell if there is demand. As you know, customers will often return or generate business based on a recommendation if they can see a good business and sales team beyond the banter. We have to deal with tightening legislation I know but honesty and a good warranty are worth the investment. Good luck for the future.
That was really interesting Matt,from where you were to where you are now hard work has paid off,well done.
Great video matt, honestly love all your videos!!
Great to hear you made a success of your business. Well done. Being so down to earth is what makes it so enjoyable!
Thanks so much!
Wow!! what a milestone! Well done Matt, crazy to see you've came so far!! Nice video. I'm proud!
Thank you! Very kind
Excellent vid, nice hearing about your history in selling cars, Matt. I do quite a lot of mechanicals on cars and wondered about buying a cheap fix up and selling on for a profit.
Genuinely fascinating video, Matt.
Loved the look back. 👍
Well done, Matt. The world needs more people with entrepreneurial get up and go like you. Keep at it.
I don’t know why but I find your point of view refreshing. Just that you’re much more candid than the predictable lines of the average UCS
Good for you with starting from nothing, and getting to where you are. You come across as a good honest bloke, plus all the RUclips you spend time on, even though its a good earner for you maybe as much as you make from the cars. Be proud, be VERY proud.
I'm a uni student in Seattle and I flip bicycles on the side and it's really profitable. Really enjoy your videos!
Brilliant video Matt and certainly this type of business focused video could be a great form of content moving forwards. There's quite a few general business lessons that can be learnt from having traded cars - customer service, consumer behaviour, market trends, stock rotation, cashflow , marketing, sourcing etc etc. I spent about 20-25 grand on my MBA but when I think about it now, I could have learnt quite a bit by doing what you did instead !
You've just explained, by accident, why I've owned 55 cars since 2002 - because they used to be cheap!! I remember buying them on a whim back in the 2000s; like a Citroen AX for £100, a Clio for £400 a trio of Jaguar XJs for less than a grand each. I couldn't do that today. Well I could but it would be silly and a lot more expensive! I'm 45 now not 25 and I've other things to spend my cash on.
Those cars you used to see by the side of the road for £500. Like a 1988 Ford Escort XR3i Cabriolet for £750! Wish I'd never sold that. Or the BMW 740i for £900! Jeez this brings back some memories!
Agree. I’ve recently bought a ‘new’ car on a budget. The prices have def gone up.
That XR3i would be worth £££££ nowadays if kept in good nick.
@@Sam-gw5pl PLEASE don't remind me of that lol ;)
Great video Matt, I bet it brought some memories back. Keep up the good work 👏
Fascinating! You deserve your success Matt. Cheers
Hey Matt, I started in the trade when I was 18 and now nearly 60!, mostly working in main dealers selling new and used cars and vans, until weekends got too much with a young family so started a car and van leasing company 22 years ago, I still miss the cut and thrust of selling used cars, but not the unrealistic expectations of customers spending a grand or two but expecting it to perform like a new car 10 to 20 times more money.
I feel your pain when you talk about having to refund whining customers for trivial and expected faults.
Love the channel mate keep up the good work 👍
Brilliant one Mat. I cant believe how cheap those early cars were - I guess thats where bangernomicks originated
I couldn't do what you do because I don't like dealing with people. They always seem to let you down or make your life difficult. Your persona is what makes it all work. Very laid back, firm but fair. Impressed with your whole operation. 👍😎👍
Thanks!
What a cracking story. Genuinely can relate to all ur saying here mate. I'm doing car sales here and there when I find time but constantly thinking of pulling the trigger of starting legit and leaving my day job 😊
Brilliant video mate. Always keeping an eye on the website, when im 100% in need of a new car i know where im heading
I think you’d be successful in whatever you turn your hand to Matt. Keep up the great content!
Thanks for that Video, Matt. It is entertaining and informative as usual.
Glad you enjoyed it!
Very interesting and entertaining. Reminds me of my brief spell buying/selling cars in the Midlands in the early 2000s. I always regret not having the confidence to continue after getting divorced. I ran away to West Wales and still here now after 20 years! Thinking that at the age of 52 I might look into whether I could start again - as a very part time business, especially as we want to retire from farming sooner rather than later.
Really interesting video. Thanks for doing this.
I've been a cultist follower of this channel for year's now and you really inspire me. Thanks for sharing such invaluable information showing your humble beginnings. I hope to start my own yard someday, and I'll have some hacks because of you. Watching from Nairobi, Kenya🇰🇪
Thank you for watching over the years. All the best
Great video as usual, much appreciated.
Matt I just bought my first trade car today, it’s a 2007 Honda Jazz and I am loving every minute, even when it stinks of cigarettes and there’s old food in the back seat, it feels so good to have started my journey, you inspired me big time
Well done. Best of luck
When you get it sold, I would immediately get on the hunt for something else. As Matt said, get the money spinning round and round as much as possible.
That’s my biggest fail, I like having the money back nevermind the profit and I use it for other things and bills etc. In my eyes the only way to get ahead is to ‘grow the pot’
All good as long as its not rot as they are so nown to rust
Good video Matt. Sums up running a small biz and putting everything into growing it 👏 well done mate
Thanks 👍
That's one of the best videos you've done. Really interesting.
Glad you think so!
My new favourite channel.
Your a good sales man mate your honest and polite and that's why your business is where it is today plus alot off hard work it pays off in the end mate 👍💯
Thanks 👍
For someone who has recently gone full time into the car trade, you are truly inspirational. Hard work and good ethics definitely pays off!
Just subbed toyou buddy 👍👍
@@flippingcarsrepairs Thank you mate!
You've worked hard and taken a few punches on the way but You've definitely made a successful business and kept your sense of humour
In Australia, a car dealer’s license is required if you sell more than 6 cars per year.
Hi Matt. Love your work 👍
Great video Matt. Really enjoyed it
Loved that Toyota Hilux, Love your work ethic and honesty.
Love every signle video you make ❤️
Great video matt and well done 👏
Very interesting video, Your work ethic and perseverance does you credit. The prices you quote seem more like last century not just a few years back but things have changed a lot recently. The price of new cars seem really high now (not that many people buy them outright!) so I guess the price of used ones will have increased as well.
8 years!! Congrats!
Thanks for the overview - really helpful and encouraging (although I never thought of setting up a business of my own or maybe too late for me) but an interesting story. Well done and keep going!
Its Never too late😁
Really enjoyed your story. You're an inspiration to many. Keep it up!👍
Thank you! Will do!
Well done Matt to these first 8 years, here's to many more👍
Thanks
Really interesting story. Well done and good luck moving forward.
Great accounts and summary of how you started Matt
Enjoyed this one, I bought my first flip car today in years, had some bad experiences in the past that knocked my confidence. Very much had your tips in my head when finding/ buying (08 plate VW Fox if you’re interested)
Was a straight car anyway but ordered new plates, new centre caps, spent an hour cleaning and polishing inside and out, let out a noise of excitement when I saw the timing belt had been changed and once the log book is back through will be up for sale hopefully with some profit.
Haha very good. All the best with that
You have a good mind for business Matt.
Well done amazing start
2015 was the year I just started getting into cars. Having purchased a Rover 75 CDT for commuting I became hooked to AutoTrader. Used to love how many cars you could get for £1500 back then. The prices on used cars today are just insane compared to then. I do think the super cheap finance artificially dropped the prices pre-2020 though. I remember my mate getting a PCP on a brand new MK7 Golf R for well under £300, an F82 M4 was only another £100 or so a month.
Thats mental cant even get a fiesta for that price now 😂😂😂
You have definitely come a long way👌👌Hopelly you still support Stockport County 👍👍
Hi Matt!
I cant wait to work for the Main Porsche dealer in 2 years as a salesman!
Great video as always! :D
Best of luck!
Reflection is a very valuable exercise. It's interesting to hear how you started from next to nothing
Living in Cheltenham I was able to park them all over the roundabout outside my home free of charge, when the phone rang I was always able to say "Oh, you're interested in the black Ford KA" and then parked one in my driveway for customer inspection. Great fun.
Brilliant video. I used to own a Proton Impian very good reliable car.
You’ve obviously got a work ethic and a head for the trade mate….. I’ve been watching you since the start, and I can see you’ve done well in some respects, but have suffered elsewhere.
Fair play to you chap, I hope business continues to grow for you 👍
Thanks!
We love you Matt ! Looks like you've got quite a few catchphrases looking at the comments 😂 Mostly along the lines of 'Massively overspent' 😂 seriously, well done on your business and your highly entertaining channel👍👍👍
Thank you Matt. Insightful and interesting.
My pleasure!
Matt never ceases to entertain. His cander is so refreshing in the car biz.
Cheers!
@@HighPeakAutos hey Matt l think your totally brilliant at this lm hooked. I was thinking of buying a W210 e320 wagon l no there a bit old in UK but what do U think? I'd be keen to hear your opinion. BTW l loved your XC 70 video as currently have one & they are great. Thanks Brigitte
i really like your channel and sometimes I think I should start doing my own business, just don't know where you can find cheap bangers and turn them for profit, everything I see out there is super overpriced. keep it up I love watching your videos!
Very interesting Matt, thanks for sharing that. I have one car for sale at present and I'm stressing about it, I don't think I could do what you do! Best of luck going forward as well.
Cars are hard to shift at the mo unless they are cheapies im struggling to sell my 6k scooby wrx 🙄
What an honest and interesting video.
Hey Matt great video😁, I just got your hoodie and it’s amazing thank you so much 😊
Thank you. Glad you’re happy with it
Brilliant Matt authentic real and refreshing if you were in Cumbria I'd buy off you mate
Fascinating. Thank you.
Looking forward to High Peak Hotels!
Well done young man 💪👏😎
Brilliant insight humble beginnings .Arthur Daley would be proud 😊
Really good insight in to what it was like for you.
Great insight into the car dealer world 🎉
Well done you took the risk worked hard and it’s paid off you’ve obviously done well good luck to you as you seem a nice guy
Thanks!
Real insight the Matt, built it on whits and work ethic, it’s why I watch
Thanks!
Interesting video, that first month was very impressive.
I’m not in the car trading industry, i just like cars, sometimes i do the service on my cars if it’s something small. However, i like your content, your useful information and knowledge. Not planning to sell cars for living soon but i learned some things:
- 90% of the cars need a new set of number plates
- doesn’t matter how worst it’s, it will buff out
- never give a Halfords gift card as a present to someone
😂
awesome video, glad you manged to bulid up a susccesful business
Nice vintage poster of Bermuda. One of my best holidays.
Its my favourite place
I used to buy load's of cheap bangers from a local BCA car auction,some hit some miss but i made a bit of profit on them
I did it in my spare time and loved it other than the few buyers who expect a 20 grand car for £500 and expect a refund.
Unfortunately The BCA has closed down and second hand car prices are crazy now.
Really hard to find cheap second hand cars now.
Love the video matt😊😊
I wish you were local seeing what you spend on preparing your cars I think you’d be a good person to buy off
Great video 👍 Matt keep it up
Couple of questions "how many cars in total did you sell in your first month?" And what was your average profit for each car?
Matt, your presentation always looks great, Mark from Holland 🙂
Thanks! 😃
Good to see the the results from the start. So what has been your best and worse months since starting out
Very interesting Matt,enjoyed the content 👍
Thanks 👍
Very interesting stuff, cheers 👍
You are a talented car dealer .
I would buy any car from you knowing I've got a good car
Kevin
Ps coming to see your show room very soon Matt
2015 i bought a toyota auris for 7000 pounds, 2 year old and 20,000 mls on the clock. still got it 155,000 on the clock now and all its had is regular services, now thats value.
Great Vid. 👍
Hi Matt I bought a Aston Martin vantage a few years ago for £95000 to keep but 1 weak later I got offered £110000 so I sold it and bought 2 more to sell thinking I'm Mike brewer lost £30000 on them that was my career over
What went wrong ?
thank you Matt very interesting