Mark101

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Posts posted by Mark101

  1. Posted

    12 minutes ago, trade vet said:

    My wife’s specialist subject is gathering reward points but by using personal CC’s.Like Earunder with our points we have saved thousands on First or Business class flights.However,if you are paying for stock with your business credit card and using the rewards personally,this could be dangerous.Now that a lot of traders could be doing this,what is to stop HMRC in the future from assessing these rewards as a personal benefit.For instance,a business class flight might normally cost £4000 but with reward points let’s say you pay only a grand.If you are 40% tax payer,could you not technically be taxed at  £1200 +interest and penalties on the £3000 benefit !....

    Possible (a reason we stopped, or reworded a reward system at work for customer loyalty many years ago).

    Possible but It is highly unlikely, HMRC has enough trouble gaining unpaid taxes from various companies, without checking all the incidentals.  Pay tax and VAT on time without errors and you are unlikely to ever get any investigation, let alone into these "perks."  In any case, I use personal CC, so even more work to route out what's business and what's personal.  Worst case, you have to pay tax on the benefit which is still less than the RRP

  4. Posted

    49 minutes ago, SC Derby said:

    Test drive yesterday...loved it but forgot his wallet so couldn't leave a deposit. Heard that before. Gave him bank details and said transfer it in when you get home.

     

    Low and behold 65 minutes later the money was in, couldn't believe it.

    Result - I'd agree, sounds like a typical "get me out of here"

  5. Posted

    50 minutes ago, BHM said:

    Tbf if you can’t afford your stock I tend to agree as I suspect them stocking loans can suck you in. All foreign to me thankfully.

    Just to be clear - I can afford stock but why not take advantage of "free stock funding?"  It leaves cash in the business to buy in privately advertised cars and in general gives me much greater flexibility.  Ultimately, the cards get paid at month end, either from a successful sale or from our reserves and I "build up" a nice little rewards incentive.

    I did think about a stocking loan and set up a large scale operation - I'm too scared though.

  8. Posted

    33 minutes ago, rich89 said:

    If they try and enforce this I will seek legal advice regarding running up auctions.

    I don't believe this is illegal - immoral, maybe...

    On the basis that no-one is "forcing" you to buy, just in effect, asking for more money - you can always walk away.

    It pisses us all off but that's life - the other option is that they don't run them up and they don't make reserve - still a crap situation.

    Log every correspondence you had with them regarding your accidental Proxy - dates, times, emails, calls etc - you might just do ok.

  12. Posted

    2 minutes ago, Tom said:

    How does that work "cashback" ? Not really dealt with credit cards.  

    Go on a comparison site and look for best deals, filtering by what reward you want - cashback (think it 0.5%), airmiles, vouchers, Nectar etc.

    Remember the card issuer charges a commission on each transaction to the processing agent (BCA, shop, fuel etc) hence why you see minimum spend £10 in a lot of places.  Out of their commission, they give you a little back.

    The commission (when I had a card machine) I think was about 1.5-2% and Amex was more like 3.5%, hence why so few places accept it.

    I use them because I like to keep the cash in the business - best case, I sell a car within the interest free month, worst case, I pay it off in full when its due.  Basically "free for a month" stock + a reward - got to be better than stock funding?

  15. Posted

    Vehice:  Mini Cooper 2005 (55) on 92k @ £2,295 nice cheapie and just had new clutch (by us)

    Ebayer: £2000?
    Me: Fair bid I thought to myself but I'm here to make money, "I will meet you half way @ £2,150?"
    Ebayer: £2,100
    Me: Ok, I will accept your £2,100 but the car remains on sale until A) you pay a deposit or (will not let me put a b in brackets lol) C) you are stood in front of me with the money.

    Ebayer: No response, gone quiet - Messer

    Another:

    Vehice:  BMW 520d M Sport Touring on a 13 plate and 75k (the best spec I have ever, ever seen - soft close doors, pan roof, TV front and rear, Wide screen Pro Nav - you name it) £15,995

    Ebayer: £10000
    Me: £15,995
    Ebayer: £12,000
    Me: Ok £15,995

    Result: £15,995 to first viewer (not this fool)

    • Like 2

  18. Posted

    On a PAYG package from AT - Do any of you know whether I can link to Dealer Website (or am I being thick?)

    I am presuming I need to commit to a package for that but cannot find any pricing on their website (there's a surprise).

    Anyone know roughly what a starter package should cost because the figures you guys are saying scare me.

    Cheers

  22. Posted

    Thanks for your help on this - I have just signed up to a Car Dealer 5 package - should be live by the end of the week.

     

    On 3/21/2018 at 9:12 AM, umesh said:

    Mark, You've got to have a website , essential.

    Many Options and all worth considering depending on what you want. 

    as already mentioned Cardealer5, Click Dealer and even Starkwood offer a starter option !

    By using one of these they all have Reg Number look up and feeds to various portals which will make life easy for you.

    If you want any further help just shout! 01782 822 700 umesh@autochange.co.uk 

    Umesh 

    Thank you Umesh, I had missed this reply - very kind and you're fairly local to me!

  24. Posted

    54 minutes ago, BHM said:

    Them ozone machines work fantastically. I’ve had one for about 6 months & they blitz out an interior, really smelly will need 4 hours worth & remember to ventilate (open the doors & boot) the car for hours afterwards otherwise the interior will stink of ozone.

    Cheers BHM

    I will give it a go this week