We Buy Any Car11 Apr 2019 11:02
I used to have BCA shares, but I wouldn't consider them now. The problem I have here is WBAC. Its a rip off, the adverts even acknowledge it, focussing only on convenience and time saving, not even pretending to give a fair financial deal to the consumer. With its flash TV adverts and use of celebrities I think WBAC is very similar to WONGA, with the same sort of perception by the public.
BCA were once really respected. I'm 61 11/12 ths now (cant bring myself to say 62) and when I was 17 used to drive spluttering old Ford Zodiacs etc through the Measham site for British Car Auctions. I'm sure the leaded petrol fumes did no lasting damage!! My point is that it was a very respectable honest company then. But not this.
I would question that you have good management here. WBAC is undoubtedly profitable - why wouldn't it be when they are rooking their punters. But its image is really very bad, and I think getting worse. Its profitable so while it is the CEO should dump it to whatever slick suited parasites he can find for a good price and focus of the decent core of the other BCA businesses.