The time taken for THE CAR PEOPLE LIMITED to pay invoices has been increasing over the past three periods, with an average time to pay of 17 days in 2017-2018, increasing to 24 days in 2018-2019 and 35 days in 2019-2020. However, there was a significant decrease in the average time to pay in the most recent period (2020-2021) with the company taking only 27 days to pay invoices.
The volatility of THE CAR PEOPLE LIMITED's payment patterns can be seen in the fluctuation of the percentages of invoices paid within 30 days and between 31-60 days. These numbers have varied significantly over the past three periods, with the percentage of invoices paid within 30 days dropping from 75% in 2017-2018 to 38% in 2019-2020 before increasing again to 54% in 2020-2021. Similarly, the percentage of invoices paid between 31-60 days increased from 19% in 2017-2018 to 58% in 2019-2020 before decreasing to 40% in 2020-2021.
Between the past three periods, there has been a steady increase in the time taken for THE CAR PEOPLE LIMITED to pay invoices, with a significant decrease in the most recent period. The percentage of invoices paid within 30 days has also decreased over time, with the lowest percentage being in 2019-2020 at 38%. The highest percentage of invoices paid between 31-60 days was in 2019-2020 at 58%. The worst period for THE CAR PEOPLE LIMITED in terms of invoices paid later than 60 days was in 2019-2020, with 7% of invoices being paid late. The shortest standard payment period has remained consistent at 1 day throughout all periods.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | |||||
| 01 Jan 2021 - 30 Jun 2021 | 23 Jul 2021 | 62 | 12% | 63% | 25% | 77% |
| 01 Jul 2020 - 31 Dec 2020 | 30 Jan 2021 | 27 | 54% | 40% | 6% | 48% |
| 01 Jan 2020 - 30 Jun 2020 | 29 Jul 2020 | 34 | 49% | 41% | 10% | 29% |
| 01 Jul 2019 - 31 Dec 2019 | 29 Jan 2020 | 37 | 38% | 53% | 9% | 31% |
| 01 Nov 2018 - 30 Jun 2019 | 30 Jul 2019 | 35 | 35% | 58% | 7% | 42% |
| 01 May 2018 - 31 Oct 2018 | 30 Nov 2018 | 24 | 55% | 40% | 5% | 28% |
| 01 Nov 2017 - 30 Apr 2018 | 15 Aug 2018 | 16 | 73% | 25% | 3% | 1% |
| 01 May 2017 - 31 Oct 2017 | 30 Jul 2018 | 17 | 75% | 19% | 7% | 7% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Standard terms are payment by the end of the month following the month of invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
62
Each dealership is self-accounting. For any dispute over payment, the dealership with which the transaction occurred should be contacted, and a resolution will be sought as quickly as possible.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
THE CAR PEOPLE LIMITED is a UK-based company that specializes in the sale of used cars. Their mission is to provide customers with high-quality, affordable vehicles while promoting sustainability and environmental responsibility.
The company's sustainability program includes initiatives such as using energy-efficient lighting in their showrooms, recycling waste materials, and promoting carpooling among employees. They also offer customers the option to purchase carbon offset credits to reduce the environmental impact of their vehicle.
Their products and services include a wide selection of used cars from various makes and models, as well as financing options and vehicle maintenance services. They also offer a price match guarantee and a 14-day money-back guarantee to ensure customer satisfaction.
The key people at THE CAR PEOPLE LIMITED include CEO Martyn Carnell and Managing Director Jonathan Allbones, both of whom have extensive experience in the automotive industry.
The company's registered office address is located at The Car People, Calder Island Way, Wakefield, West Yorkshire, WF2 7AW. Their website, www.thecarpeople.co.uk, provides detailed information about their products, services, and sustainability program. Customers can also contact them through their website or by phone at 0333 222 0424.