trade vet

If you are talking about the company Fehrbrothers trading as The Car Buying Shop....doing well.Nice website but I am unsure about the company,maybe I am mistaken.

100,000 MILE WARRANTY or the nearest set of traffic lights,whichever comes first...........

Nice one.....I doubt they have few comebacks,I would not be surprised if they have several hundred per day.Also,they have net debt of £260m to service .....however they are doing really well.

Tradex is right,without a doubt.You need to be LTD and VAT regd.I have known people who have made one off honest mistakes with bookkeeping and HMRC have slaughtered them because they do not have the protection of a LTD company.In one case they had to remortgage their house.

Ideal pitch.......25 car open site,....located on a long established street of car dealers ( some amazing characters )......stock supplied direct from main dealers closebye who would almost beg you to buy them.( £5 bung per car) ......Prep..DIY on the street ( cars were simple to repair ) or you could outsource big jobs,MOTs and paintwork next door ( night shift paintshop /shed,).....typical mark ups were 70%,......selling 10 per week was normal,....typical warranty - one month mech parts only ( come backs were few ),.....VAT 7.5%,.....advertising spend - zero,.....pitch rent £60,rates £10,......loads of HP commission-few deals rejected ( people rarely defaulted)......,perks -( no plastic cards) you always got the punters to pay you cash for their road tax and you would get suppliers to leave unexpired tax discs on which you would cash in and pocket.....I have forgot a lot more.....Sorry guys,I am not dreaming,that was our first pitch......we later sold it on for a lot of money,past glories but since then we have had one or two set backs and also had bad pitches aswell.

Give me a call 07836 799822

If these were your vehicles,may be able to help.

‘Financially chastened times’,yes but most of it is self inflicted.....tee shirt for £60...just put it on the card etc.I am sure we all know people who earn plenty,but they have so much debt and they think that is normal.Just wait until interest rates rise.

Chucky...Another name for HP......Chuck your money away.....It is common usage up north.The number of punters who have said to me ‘I will have it,mind I will need some chucky’....HP was frowned upon,I can remember when you would never get cival servents or even coal miners wanting chucky.

Hi Justin ‘Chunky commission’,I like that,it finished long ago on everything.I was meaning there is no ‘chucky commission at all’ ( that is what we call HP up north ) on cheaper stuff. I agree you are better off if you have an in house workshop rather than out sourcing work.However you must have cases where you would have been better off using staff time for doing outside work. I would like a paintshop because stuff can be away 3 weeks at a time,but in reality reliable painters are hard to get,most of them appear to be nuts or have some addiction problem.No wonder not many kids want to be painters anymore,it is an awfull job.

It was recently spelt out to me why selling older cheaper stuff is no longer viable and just creates ‘negative output’.While selling is not a problem,for a start there are no descent swappers or chucky commission.If you correctly account for the average prep time plus cost of parts and average cost of comebacks,the VAT bill can exceed your net profit......

Would have been sold on line.Down in Tradex country it could be £5999 !

I don’t know how it works.However I know of a trader who supplied supermarkets who had bought a large batch of nearly new stuff from Ford Uk which I think had come via Ford Belgium.A few years later,he is in court with HMRC trying to avoid going bust because duty had not been paid.He only won because he proved you could not HPI check whether duty was paid on imported vehicles.It may of changed since then.

So the import duty ( plus interest and penalty probably ) liability will rest with you the first motor dealer in the chain !

I think you will sell it,if not it is a good one to keep and put away.It is better than putting £10k in a deposit account.Also,£840 for brakes,did you go to Kwik Fit ?

I will start again....you paid £3800 for it,then you complained that it was sitting around at £5450 and you asked us for advice. You took the advice,reduced it and now it is gone....Go and buy another one.

I would say that first you need proof that the import duty has been paid......

I have to say,if I was an underwriter,I would be sceptical of a young trader with only 3 years experience dealing in ‘footballer type stock’.I would want to see 2 good sets of audited accounts to establish credibility.....If you cannot get a main line insurer with proper cover,maybe you should change your business model......What’s the latest on BCA

Most of us started from zero.You need to have an accountant,who will calculate your tax deductible allowances .You need to record every penny and every transaction.The bottom line is,get it wrong and if you have any assets,HMRC will think of a number and ‘take you to the cleaners’.....They are not big fans of ours

Small but dedicated following,I would definateley agree.......Who stitched you up with that,I hope you haven’t been driving around in it.

Grant,you got that one cheap,but you being too greedy.......usual story with start ups !

They will have set up many Ltd companies between them to hide behind which are then dissolved after 18 months.When you don’t pay VAT,PAYE,business rates or do PDI’s ,repairs etc and get away with it,is it any wonder they will just set up somewhere else.They probably see it as good business,they could be up to all sorts.....HMRC don’t bother with them because there is no money....Meanwhile the Windrush generation who have worked and paid taxes Da Da Da.

That’s really good......maybe if you put a exclusion of liability CRA 9(4)b disclaimer within your ads and on your sales invoices.

Maybe you are right.....not long ago !...........( probably 98)

That sounds good,but we had a case where the ‘pull out’ radio was defective but we left it in.The punter was happy to replace or fix it but he later complained that he had advice that he was entitled to a good radio despite our agreement.Trading Standards got involved and we were informed that because the radio was included it should have been working.