Mark101

Welcome CRW Cominf from where I guess diesel is very much alive still?

That's how you sell 40 per month

OK, let me put it an easier way - you want £800 (not enough gross IMO but let's use that). Retail £4995 Margin Target £800 Buyers fees £250 Transport £100 Valet £50 MOT £30 Servicing £200 Paintwork £200 Advertising £50 + any other costs Maximum Bid = £3,315 The answer is IT IS ALL IN THE BUYING

Simply impossible to answer. I have a figure I aim at, sometimes I lose, sometimes I win, sometimes I break even - just work towards your target by using retail back.

I started taking cards in 2003 (rare back then for motor trade), I still take them now. Never had a Section 75 and I will not lose sleep wondering whether it will happen. It is no worse (and certainly far less likely) than the warranty claims and refunds that can keep me awake at night.

Handed two over on Saturday and drove the swapper home after placing one pic (unwashed) online just to run it before spending any money. On Ebay at 6am this morning and up pops a message, will you take £2500 for the swapper. I said leave £100 dipper and it will be ready. He arrived at 10am and by 10.30, deposit taken. This takes me to 5 for May. Oh, and no AT bill

Nope - I’m Santander, it is Barclays who process it though.

+1 I had one set up last month, £15 per month for the terminal and 0.33% debit, 0.66% credit. Still have the iZettle as a mobile back up. What I hate about card payments is bank holidays. Sold 4 cars on good Friday and nothing cleared the account until the following Wednesday. Same this weekend too.

I completely under estimated the amount of time this job requires, not to mention the buyers who think you're their personal 24 hour conceirge for the next 3-6 months. This job is tough, rewarding but tough. I couldn't imagine how I could possibly do it part time, I work full time 6-7 days a week and I still run out of time. I love what I do but I am knackered - can't wait to get home tonight but back in for 9am tomorrow to hand over 2 cars to quite a challenging family, really nice, top people but clearly from an employed background, with so many last minute - can you just and changing times at the last minute thinking I have all the time in the world. Good luck to you. Read this forum at length because every one of your questions has been answered dozens of times. What area are you in by the way?

Can you elaborate Matt? What cover does this provide, is that a fixed fee per vehicle regardless of age, mileage, engine size etc. Who's that with?

I hold my pot but I give them and maintain a £500 float so they can pay on my behalf. You can give them it all, part or hold it all yourself.

A1 Approved - £20+VAT per warranty. Your pot, they administer and always ask you where you want the car to go before starting work.

I have just started using VT from April 1st (my new financial year). Two clicks and it calculates VAT using the margin scheme and submits electronically.

I’m not (I’m younger that you ) I lived my life in a mirror (as in reversed) image to Simon - divorced with 2 kids by 24 - kids then lived with me. Exactly what goes through my mind every single day and the reason I haven’t already. Someone once said to me, if you’re unsure do nothing and I might just do that. Trouble is I am a risk taker, always have been. Thanks for the advice chaps.

So, you have 2 valeters. My daughter gave birth to my second (her first child) grandchild at 3pm today and my other daughter is due her second child, my third grandchild in August this year.

The unit next door is 4 times the size of mine - I am considering filling that with stock (hold 25 without having to move any cars to get one car out). It is about £3,000 a month + £1,000 where I am now. Not sure whether to stay as I am, move into the bigger one or keep both and use one as a prep, workshop and take a spanner on or keep things light The landlord is happy for me to open a workshop despite them not liking motor trade, he says I keep the place spotless and I am unlike any other trader he has met/dealt with (and since banned motor trade) or of course, he could just be blowing smoke up my arse. The other option is, we sell all properties and cash in to one big pad and revert to trading from home but one like TV talks about (about £600-700k) with land, easily achievable where I live (before all the S Easters pipe up about property prices and how that wouldn't buy a 1 bed flat ). I am committed to making this work, balls in etc - the past 2 months (I know it isn't really long enough to form a true picture) has made me realise how scaleable the business is.

To be honest Simon. I was dipping my toe when I first started whilst half looking for another job after throwing my toys out in the boardroom and suddenly and (if I am honest) unexpectedly started making a bit, then a bit more and before I knew it had a dozen cars and exceeded the threshold. HMRC were very good and simply backdated me to the point at which I exceeded the £85k T/O threshold. There's no turning back now though, fully committed, 6 year lease, first employee, just sold a rental property for some cash injection to ramp up - looking now at a second unit. Oh, what 12 months can bring.

I didn't know Guv

You can and I did - most profitable time in the job and it is a one off.

This I love selling + VAT vans - no VAT margin eating into your profits.

I know exactly what a PK Ripper is - my best mate at school (and now a MX legend) had one. I'm not into MX but anyone who is will know his name Rikki Preist

I don’t care what anyone says, we all bear in mind some reference to CAP figures, especially when spotting last minute opportunities during a live auction. Given time, I base my valuation/max bid on AT’s suggested trade and compare with their suggested retail less my margin and costs.

This plus often stipulated by the manufacturer themselves as terms of the franchise.