does anyone have any information on how to set up a small business buying and selling cars from home.
are there any books on this subject
can anyone help
|
|
Don't do it, mate. Your pathetic plea to be led by the hand and shown how to run a business makes it obvious that an entrepreneur you ain't. Stick with the Nanny State way of cruising through life - which has obviously nurtured you to date.
|
Question; Want to make a fortune in dealing in 2nd cars from home ?
Answer; Start off with a bigger one !
|
have alot of land, so if the tax runs out on the cars, you dont get fined as if the cars were on the road.
if the buyer is going to be coming to your house, make the house and garden look nice and tidy (if you dont look after yourself, its going to look like you wont have looked after the car).
dont have loads of cars in your garden, because the buyer will think your just a back street dealer in disguise.
|
|
|
|
Dont do it, Mistakes are costly and experiance costs dear.
Matt
|
|
|
Andrew,
Your simple question does not warrant responses to the effect that you are "pathetic", a product of the "nanny state", or that you "cruise through life" when all that the question raises is a requirement for information about buying and selling cars from home. Many of the well known names from the world of vehicle sales, started in this humble way and, it is to your credit that you seek advice from a forum within whose ranks there must be a number who started their business careers in much the same way. You will see one of HJ's books detailed on this forum and, perhaps, this might help. Buying and selling cars from domestic premises is fraught with problems but, is not impossible and, in some of the trade magazines you will probably find information to give you the guidance required. Good luck.
|
You'll really annoy your neighbours if you have any. I chap in the village where I used to live did this with 'prestige' cars as a side line to his bog standard forecourt trade. He soon ended up with regular visits from Tax men and Police. It's very difficult to sell a car when your neighbours are shouting about the cut and shuts, stolen cars etc that you trade in.... He would find that many people who rang and made appointments to view cars didn't turn up, funny how his neighbours would always know he had been expecting someone....
He battled on simply to be bloody minded for a while, but sold up and moved out. If he'd bought a house on the outskirts of the village rather than in the centre he would have been OK.
I'm sure that you could make a few bob by buying cars from weak and ill-informed sellers and then tarting them up a bit and flogging them on to weak and ill-informed punters. This would have to be done on an ad-hoc basis when the right car appears with the right seller.
I think you can sell on three cars per year for profit before becoming a 'trader' in the eyes of the tax man.
Piers
|
|
|
|
If you're going to do it, stick to something you know. Most of the times I have been caught out and ended up with a duff car, it was because I wasn't familiar with the vehicle and didn't know which specific faults to look out for. Also, remember that a dealer will not make money on every car he sells. He might make money on seven cars, and lose on three. But he is shifting enough stock to make a profit overall. Without any previous experience, your failure rate will probably be much higher, and by the time you have bought and sold three vehicles and lost money on all three, you will probably be looking for a more certain way to earn a living (for example, becoming a professional gambler).
Having said which, not too long ago I picked up a very tidy Fiesta for £50, changed the water pump (£5 from a breaker) and put a fresh MOT on it, then sold it within an hour of the ad appearing, to the first punter who came along, for £295. Not a bad profit for half a day's work...
|
|
|
If your really keen then my suggestion would be to try dealing on a part-time basis first.Keep your current full-time job to pay the regular bills e.t.c.
Its very hard to make a regular profit from trading cars at home.Many car dealers start out by buying trade-ins at franchised dealers then putting thru the ring.Even this is difficult these days,many auction houses hold dedicated part-exchange sales for these franchised dealers so its cuts out the middleman.
If you are inexperienced with trading cars my main piece of advice would be to start with cheaper cars.This will make potential mistakes less costly.Stick with bread and butter models -not sports or hot hatches.
At some stage you will need price guides/trade plates/finance/warranties/HPI most of these will require some kind of trading history,so keep proper accounts.
Good luck
Steve G
|
|
|
It isn't going to be easy. But you can get my tips for nothing either by looking them up on this website ('How to Buy and Sell Cars') or by phoning 0800 052 2098 for a free guide sponsored by VW. Remember, once your turnover exceeds the VAT threshold, you will have to register. You won't be able to get trade plates until you can show trading accounts and somewhere off the road to store your stock. Norton Insurance Brokers will sell you third party trade insurance, tel: 0121 246 5050.
HJ
|
Andrew, Have a go if it's what you fancy, but I would ask, please keep it legitimate. We really do not need any more people pretending to be private sellers, when really it is trade. Give a warranty, give first class service, pay your income tax and VAT, know your niche and stick with it. You may need planning permission. As HJ suggested, I use Norton brokers, and now pay just over £800 pa fully comp, full 50% no claims, with demonstration cover, which covers cars up to a total of £10,000. (I gave up heavy money cars years ago after I bought a senator for £26500, and traded it on for £26600 an hour later. If I had had a minor bump in the car, I'd have lost a fortune ie book drop, now had paint etc.), and only £100 profit, less VAT, less income tax, less petrol.....
As far as warranty was concerned, I wrote my own in plain english, and kept a fund which built up. Customers seemed happy to have it and on the few occasions I had a claim, I sorted it out pronto.
Good luck
Mike
|
|
|
|
![2021 Jaguar I-Pace 294kW EV400 HSE 90kWh 5dr Auto [11kW Charger]](http://images.honestjohn.co.uk/imagecache/url/crop/90x60/https/cdn.uk.prod.group-mobility-trader.com/images/cas/c03701c1acffa6fb2768e9a6e4a62fed/0ea96d7b72c5f53df4f8ad1d4164cc1b.jpg)
