Carcraft

[Ivory55]

I heard Carcraft has gone under , is this a sign of spare cash people have is running out ?

 

[Deleted member 29692]

Or that the expensive finance terms that they loved to push is becoming harder to find?

Administrators Grant Thornton said the group had suffered from "poor market reputation, lack of investment, a high cost base, expensive loan note financing and an insolvent balance sheet".

"The group is said to be making annual losses of about £8m a year."

That about covers it. Surprised they kept going as long as they did if that's the case.

http://www.bbc.co.uk/news/uk-england-manchester-32538820

 

[mike mcglynn]

I for one am not surprised have you ever been in one of their showrooms we made that mistake last year when looking for a new car we had just walked in and were approached by a young lady who insisted that we take a seat whilst she introduced to us how to buy a car ,demanded our names and addresses, and what car we had ,when I asked did she have any 4x4 switchable drives she didnt know what I was talking about and went to ask somebody else we left at that point,

 

[hilldweller]

Being northern based it was on local news, they've been losing £8,000,000 a year. Pretty careless.

 

[tonka]

Maybe just Carcraft was a bad business..
My nephew worked there and we heard some "right stories" about hard selling ... He left as not comfortable after seeing some "older" and young family clients get talked in credit agreements etc..

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[schojac]

Remember them starting business in Rochdale many moons ago.

 

[pappajohn]

I made the mistake of buying from them many years ago.

Chairman...................Mr A Daley
finance director.........Mr T McCann

 

[2657]

Remember them starting business in Rochdale many moons ago.

Started off as a small garage/accessories shop at Heybrook Corner, Rochdale then opened a bigger shop across the road, they used to have adverts on the local cinema's in the 60's.

The business expanded steadily over the years under the original owner and then his sons and at some point a quantum leap occurred.

The business model always seemed dodgy to me as they were much more interested in selling the finance than the cars, salesmen would rapidly loose interest if you were self financing.

 

[Mr B]

Does it mean that the " we buy any car " ads have stopped, seeing that's where carcraft got most of their stock from??????

 

[chaser]

Never bought a vehicle from a car sales place apart when I thought I was on the up and bought a new Peugeot 405, apart from thatalways private just don't like people making money for nowt out of me.

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[DuxDeluxe]

Does it mean that the " we buy any car " ads have stopped, seeing that's where carcraft got most of their stock from??????

That is a good point......