Author: Kate Shakesheff

Cooper Solutions Nominates Guy’s Gift As Its Charity Of 2018

Posted on by Kate Shakesheff

A year of fundraising for Warwickshire charity supporting bereaved children and families

Software and digital solutions provider for the automotive industry, Cooper Solutions has nominated local charity, Guy’s Gift as its charity of 2018, underlining the Warwickshire business’s commitment to giving back to the community.

Barry Cooper Managing Director for Cooper Solutions comments, “We are delighted to be working with Guy’s Gift to develop fundraising events for the year ahead. The whole Cooper Solutions team is keen to get involved in helping raise funds and awareness for the vital work Guy’s Gift does for bereaved young people and their families.

“Everyone at Cooper Solutions understands the benefits of supporting a charity like Guy’s Gift. Over the next year, our charity activities will reflect our commitment to being part of the community in Warwickshire, bringing local people and businesses together for a fantastic cause.”

Lisbeth Bakewell, Service Manager for Guy’s Gift adds, “Support from businesses like Cooper Solutions really makes all the difference by helping us continue to work with the children and young people who need our support. It enables us to provide workshops and one to one support for children and young people, to process their feelings around loss and bereavement. We already have a shortlist of great fundraising ideas from the team at Cooper Solutions and we are looking forward to creating a calendar of fun events and activities to host together.”

Cooper Solutions provides a portfolio of online solutions designed to help motor retailers improve their processes, performance and profits. By understanding the challenges dealers face, Cooper Solutions delivers fleet management with daily rate insurance cover, performance forecasting and financial management, as well as online trade vehicle auction solutions. Staff at Cooper Solutions will be working with Guy’s Gift as a key part of the company’s Corporate Social Responsibility (CSR) programme.

Guy’s Gift is a small, local charity that relies heavily on the support of local businesses and the community to provide much needed care for children, young people and their families who have experienced a significant bereavement.

Operating throughout Warwickshire, Guy’s Gift is a community-based organisation supporting families from across the whole of the country. The team guides and supports bereaved children and young people to help them manage their grief and offers training to schools and other professionals.

How do our buyers benefit from using FullAuction?

Posted on by Kate Shakesheff

In a comparative analysis of transaction costs between traditional and online auctions, the fundamental difference is that physical auction charge buyers a considerable fee, around two-thirds of the total transaction cost.

Selling dealers pay the remaining third, but will often be offered a volume rebate to bring this down below £100 per unit. It’s the buyer’s costs that stand out and which will directly influence the price paid.

A regular buyer will pay over £200 for a car worth £3000 and £250 for cars over £5000. Volume brands achieve average selling prices around £3000 per unit for trade cars, prestige cars up to double that. All dealer stock is therefore expensive to buy at auction and there is every probability the buyer will pay more in fees than the selling dealer will achieve in profit.

Matthew Hall of MSH Ltd, one of our 5294 registered buyers, says “I am more likely to buy from FullAuction than from its competitors because it allows me to cap my budget when bidding so I can avoid eroding my margins. Unlike other users who may be retailers with a large forecourt holding lots of stock, I have a quick turnaround and therefore my margin is much tighter”.

The online model works, buyers like it, they can bid on the move and do so with confidence.

FullAuction Achieves Stellar Profits For Sellers In 2017

Posted on by Kate Shakesheff

Renault Trafic earns nearly 10 times asking price reveals Cooper Solutions

‘Top of the Profits’ from Cooper Solution’s FullAuction this year, is a Renault Trafic SL29 DCI 9 seater minibus. Selling for nearly 10 times its asking price, this record sale underlines the value of a well described vehicle at auction, exposed to a larger buyer base, outside the retailer’s local proximity. The latest analysis of sales activity on FullAuction, the trade-to-trade digital site from Cooper Solutions, reveals its top 10 most profitable sales.

The Renault Trafic had a Stand in Value (SIV) of just £500, whilst the winning bid closed at £5,444. The second most profitable sale on FullAuction was for a Mercedes-Benz CLK 320 Elegance Auto, achieving a profit of 133% over the SIV and 252% CAP Clean.

In third place, a Mercedes-Benz Viano Ambiente secured a sale of 69% above the SIV and a winning bid of £14,350.00, suggesting that good quality, low mileage MPVs are in demand.

Overall, the average bid for the top 10 most profitable vehicles sold on FullAuction was 143% more than the SIV, although the profit margin for the top two was exceptional. Eight out of 10 of these cars were below CAP average when bidding commenced, which could have helped catch buyers’ attention.

FullAuction boosts average £PPU and CAP performance by optimising the mix of well described stock, a pool of hundreds of validated trade buyers and low transaction costs. The result is outstanding profits for sellers. Crucially, it’s quick and easy to list, sell and deliver, helping to shift stock.

Simon Whicher, General Manager at Cooper Solutions comments, “It’s clear from these figures that if vehicles are well described and started at a price that encourages competitive bidding, once the reserve is achieved and the vehicle is effectively ‘sold’, extraordinary profits and CAP performance follow. Fortune very much favours the brave with reserve expectations!

“We’re finding that many retailers are selling their stock via FullAuction long before a physical auction house would have even collected it or turned it into cash; and with buyers paying considerably less than they would at physical auction, they are happy to bid that bit more.”

How can your dealership avoid getting stuck with over-age stock?

Posted on by Kate Shakesheff

It’s a question dealers are faced with every day. Good retailers, whatever their industry, know that efficient stock control is crucial to success and profit. In the automotive industry especially, there are so many factors that can have an adverse effect on profit potential where stock that isn’t being actively managed is harder to sell and worth less.

There are four steps to ensuring the right margin is achieved:
Appraise and buy well;
Prep fast;
Price competitively;
Maximise sales opportunities

We can help you move through these steps quickly allowing you to achieve consistent profitability with your retail car sales.
Want to find out how you can increase your stock turn, volume and retail profitability?  Call us or email us to ask how FullControl can work for you.

Investing In IT Expertise

Posted on by Kate Shakesheff

Cooper Solutions Appoints John Hutchin as IT Support Analyst

Cooper Solutions continues to invest in expertise that will strengthen its support services to its dealer community, with the appointment of John Hutchin as IT Support Analyst. John will be looking after front-line technical assistance, as part of Cooper Solutions’ commitment to delivering professional digital and software solutions backed by a seamless level of customer service.

John joins Cooper Solutions after 14 years working for computer services and repair specialist, Click OK, in Warwickshire, where he honed his skills in a customer-facing business. This experience will be invaluable for his new role, providing technical support for all hardware and software issues across Cooper Solutions.

Barry Cooper, Managing Director for Cooper Solutions comments, “John is a valuable addition to the team and brings a particular interest in IT security, which will help us deliver added peace of mind to customers using our services. By investing in the expertise of our IT team, our sales department has the confidence to sell our solutions to our customers, knowing they are harnessing the latest technology which will deliver on performance, thanks to robust IT support.”

 

Friends And Family First Port Of Call On Unaccompanied Test Drives

Posted on by Kate Shakesheff

Cooper Solutions survey reveals that 89% of people would buy a car if their friends and family gave it the thumbs up

The latest survey from Cooper Solutions puts the spotlight on the importance of extended and unaccompanied test drives in securing sales and enhancing attitudes towards dealers. With the average test drive lasting just 20 minutes*, 49% of 200 used car buyers said they would feel more positively about a dealer if they were offered an extended or unaccompanied test drive and would welcome the opportunity to make a more informed purchase decision.

Whilst 43% said they would use the opportunity to show the car to friends and family to gauge their opinion, the vast majority (89%) admitted that a positive response would likely swing a sale. A further 15% would take it to show off to colleagues at work, for that all important second opinion, with more men (18%) than women (13%) saying they would do this. Nearly a third (32%) said an extended test drive would increase the chances of them ‘falling in love’ with the car they were test driving and 20% said it would increase the probability of them buying that make and model of vehicle.

Women (25%) are more likely to do day-to-day errands in an unaccompanied test drive car, compared to 23% of men. However, it’s clear that both genders like to test a car to make sure it fits their lifestyle, whether it’s doing the supermarket shop, packing for a trip or fitting in the golf clubs and yoga mat.

When it comes to testing the driving of the vehicle itself, overall performance was rated the most important factor, closely followed by visibility and ease of parking. Whilst 42% of men tested a car for motorway driving, women were more likely (38%) to make sure there’s enough space in the boot.

“The test drive process is a vital element of the customer purchase journey and substantially increases the chance of securing a sale. This is significantly heightened when a customer has the opportunity to bring to life the benefits of the vehicle, particularly when considering an upgrade.
“Being able to drive on familiar roads allows time for the customer to test out comfort, equipment, and the way the vehicle handles and performs, as well as being able to trial the car without the pressure of a salesperson accompanying them.” explains Dean Pipitone, a Director of Cooper Solutions.

“However, our survey findings do suggest that dealers need to keep a watchful eye and more importantly, be adequately covered in the event of an accident or incident. Motorists test-driving can be tempted to push the vehicle’s speed, particularly when driving on the motorway; Dealers need to consider both quality short term insurance cover, in the event of an incident, as well as the tracking of traffic offences or charges. Dealers have a duty of care in validating their customers’ driving licences, enabling them to offer unaccompanied test drives with confidence. Crucially, this means dealers can enhance the customer experience and boost their bottom line, by making the most of new sales opportunities.”

FullCover, from Cooper Solutions offers insurance on test drive vehicles, starting from £2.83+IPTper day with a £250 excess, ring fencing the risk to a dealer’s motor trade policy. Claims are handled quickly and efficiently and traffic offences or charges monitored, putting dealers firmly in control.

Survey was based on 200 responses from consumers aged 18-55+ conducted by Gorkana, August 2017
*Source: Parkers 2016 Survey

Automotive Systems UK Partners With Cooper Solutions

Posted on by Kate Shakesheff

Harnessing FullAppraisal to streamline the sales process and deliver an enhanced customer experience for retailers

Cooper Solutions has chosen Automotive Systems (UK) Ltd to help users of its mobile vehicle appraisal tool, FullAppraisal, to deliver a faster and more professional part exchange process to boost the customer experience.

FullAppraisal integrates seamlessly with ASUKL’s existing software, eliminating the need for multiple data entry and reducing time during customer transactions. Retailers using ASUKL’s platforms can now input customer details and vehicle data whilst at the vehicle side, using their mobile device. Crucially, the integration of FullAppraisal with ASUKL’s software means retailers are fully compliant with FCA Regulatory Treating Customers Fairly guidelines, ensuring best practice in people and systems. The robust software provided by ASUKL also tracks sales, reduces time spent inputting data, helping retailers sell more and boost profits.

Tim Sherriff, Director of Automotive Systems (UK) Ltd says: ‘Working in partnership with Cooper Solutions and integrating our systems has a number of benefits to the retailer. The platforms fit seamlessly into retailers’ existing sales processes, delivering a more streamlined and professional customer experience. Now sales executives have to input customer details just once online, via their mobile device, creating a slick and professional impression.

“FullAppraisal also delivers data through digital appraisals, allowing it to be easily transferred to the ASUKL platform. This means we can track sales and collect data in one simple reporting system. Using both systems together means our retailers have peace of mind that their FSA compliance is robust whilst offering clear and concise advice to their customers.”

Simon Whicher of Cooper Solutions, adds: “We are looking forward to working closely with ASUKL in this exciting new venture in our joint mission to streamline retailers’ sales processes. FullAppraisal helps motor retailers embrace electronic appraisals, for faster, more accurate data collection at the vehicle side which, together with FCA compliance, creates a modern, professional image for the business and enhances customer experience.”

September 2017

Top Selling Tips For Online Auctions

Posted on by Kate Shakesheff

Helping dealers get the best price for their stock and boost their bottom line

Motor dealers looking to sell an entire fleet, a single vehicle or a regular supply of part exchange vehicles need to make sure they’re maximising their opportunities at online auctions, urges Cooper Solutions. FullAuction, its trade-only online vehicle auction site, makes selling easy and more profitable. To help dealers sell better, Cooper Solutions offers top tips on professional remarketing.

An accurate listing and full description of the vehicle is the most important aspect of selling a car online. It enables dealers to understand what they are buying and have confidence in the seller. A car described honestly will maximise bidding opportunities and will encourage engender more sales. Key to attracting a good level of buyer interest, which in turn helps dealers get the best price, is presentation. Vehicles that are well prepared will retail quickly, improving stock turn and cash flow, so doing a proper valet will add more than an extra level of polish.

Barry Cooper of Cooper Solutions comments, “There’s a lot that dealers can do to help their vehicles achieve exceptional values at an online auction. As ever, honesty is the best policy, buyers are unlikely to be put off by a scratch or dent – they must be able to rely upon the listings so they know the true condition of the car they are bidding on. Sellers should also make sure they have a complete service history, V5 and MOT certificate. FullAuction allows sellers to indicate when the MOT expires and whether there’s a spare key available, as well as listing all the key documents.

“Armed with our top tips and the speed and accuracy of FullAuction, dealers can sell with confidence to attract strong bidding and boost their profits.”

Vehicle Listing should include the correct registration number, mileage and number of owners. Vehicle descriptions must detail the colour and condition, highlighting low mileage and any interior features, which may help to sell the vehicle. Photography is essential to enhance the description. Wash the vehicle before taking pictures and get shots of the interior and exterior, plus a photo of the service book. Use the best pictures first, using a full shot of the vehicle as the cover image.

FullAuction is an alternative route to market for franchised dealer trade cars, which attracts hundreds of validated buyers and is quick and easy to list, sell and deliver. User analysis confirms that many dealers are selling their stock before a physical auction house would have even collected it.

Cooper Solutions’ Top Tips for Sellers At Online Auctions

• Accurate Listing and Description – make sure the description includes, colour and selling points such as low mileage and factory fitted optional extras
• Vehicle Condition – Damage markers must be noted on all listings
• Preparation – Present vehicles in the best light by valeting to remove rubbish, excess dirt, stains (particularly those that look like they smell!) and personal belongings
• Presentation – Take lots of photos of the exterior and interior and select the best ones. Remember, good lighting is key to showing off your stock at its best.
• Tyre Tread Depth – Make sure you measure across all four tyres
• Service History – Ensure you have a complete service history, V5 and MOT certificate- a vehicle with service history will be more profitable than one without and am image off the service book provides evidence for buyers
• Photo Gallery – You should provide a minimum of ten shots of the vehicle (taken in the same location). Aim for four images of the exterior and three images of the interior including the speedometer with the engine running and the dashboard
• Vehicle Checks – Include a vehicle provenance check, which verifies whether a vehicle is clocked, stolen or still on finance
• Start Price and Reserve – Carefully consider the reserve price (this is only disclosed to buyers once the auction has finished) and set a realistic figure. Start your vehicle at a low price to attract early bidders and watchers

September 2017

TrustFord Partners With Cooper Solutions For FullCover

Posted on by Kate Shakesheff

Daily rate insurance offering for vehicle loans enhances customer experience and unlocks revenue opportunities

TrustFord, wholly owned by Ford Motor company, is entering a new partnership with Cooper Solutions. Under the new agreement TrustFord’s aftersales force will benefit from access to FullCover, the fleet management system that delivers automated daily rate insurance on courtesy and test drive vehicles.

FullCover delivers centralised data on over 300 courtesy cars across the groups 40 dealerships, giving users access to detailed reporting and maximising revenue opportunities through loan car cost recovery. “FullCover offers us a streamlined process that automatically validates driver’s licence details, allowing the courtesy car loan administration process to be faster, more efficient and following best practice. We can reserve, start and finish a loan in less than 30 seconds,” explains Stuart Creswell, Service Director at TrustFord.

“Crucially, FullCover allows us to maximise revenue opportunities by recovering costs across the Group. Customers can opt to reduce the loan car insurance excess by purchasing excess cover with us, driving efficiencies and providing customers with greater peace of mind that they are financially protected in the event of an accident.”

Marking the partnership as one to drive technology advancements, TrustFord is the first to benefit from Cooper Solutions’ FullCustomer, a new solution that removes the need to duplicate customer information entry into the FullCover system. The pilot of FullCustomer with TrustFord has seen a reduction in wasted administration time and significant improvement in data accuracy.

Dean Pipitone, director of Cooper Solutions adds, “We are excited to be working closely with TrustFord to bring them the latest in fleet management solutions. FullCover is designed to put dealers in control of their business and deliver an enhanced customer experience, and for TrustFord it’s proving to do just that, acting as a framework for the entire group. Crucially, not only does it deliver a fleet management offering and effective short-term insurance for customer loan cars, it helps businesses like TrustFord maximise profit opportunities.”