Mark101

That’s easy - Lamborghini has a 9000 rpm spin cycle - dries your towels really well. yes Tewkesbury is closed as is Castle Bromwich which are the two I used to use, together with Telford Motor Auctions (now Wilson’s) - I do like Telford, there is no arrogance at all there but they just don’t get enough suitable through for me, lots of real cheapies though and some seem to buy 10-20 every week and probably flip them for a couple of quid.

Hi trade vet in honesty, I’m too green to define what sells and doesn’t (I’ve been out for 12 years) but I am working on units around the £4K trade, retailing between £5-6k with probably one hi-roller £50k because the markings (if you get it right), seem more in line with the margins I made all that time ago. I only have 4 units in stock at the moment but I’m trying to ramp up and quickly - but NOT at any price. I am still in awe of how frank you are all being, it is so helpful for me - so thanks again

I can see their logic but if they bothered to really analyse data, it would tell a different story. Yes, many classic car enthusiasts loves and spends more time maintaining and polishing their pride and joy than they do driving the thing, howver - they are not all £200k E-Type owners. I reckon we all know where we will find 40 year old Land Rovers and the like being driven around with bits falling off - right next to the family Vauxhall.

£40 extra to buy online - money I could spend on my dealers breakfast! Thanks for your comments both

Interesting concept Arfur Dealy thanks for sharing trade vet.

Price is NOT the only thing - timings are crucial but we can't always predict that (apart from 4x4 coming into winter and cabs coming into summer). You need the cars prepped right, pictured right, good advert without grammatical errors and wait for that one person. MGM makes a casing example!

As recent start-up (restarter), I had to use my 4 years private no claims and I pay about £1400 upto £20k per unit unlimited stock - for my wife and I to drive on business and/or socially. I'm 44, 3 points (SP30) and live in a Worcestershire.

Hi Neil Obviously the higher the car value the higher the margin but also the risks. Rather than aim for £1k per car, work out a margin to work to (it's how I operate). (Take your value and divide by 0.8) IMO - £1k out of a £10k car is not enough. You should be aiming at 20% margin from £5k and above - this is my opinion and I am sure someone will hammer me for saying this. Yours costs will be: Hammer Price + Indemnity + Assured + PDI + Service + MOT? + Warranty + VAT Margin + Transport + Fixed Overheads and only then + Your Margin. This will inevitably put your car above the cost above the cheapest on other websites. My advice, don't try and be the cheapest - prep right and use your skills to sell. A sensible buyer, the type we all like to deal with, will not mind paying a little more for the right car and they will buy from you. The only way to sell cars cheaply is to buy cheaply, often meaning lower quality, higher miles and less prep = more screamers - that's not where I want to be, especially as a home trader myself. Sell fewer, sell smart - that way, you will not be a busy fool. Also, I think anything much north of £5k and you need to be thinking about finance and/or card payments - perhaps another issue trading from home.

For the first time yesterday, I used BCA Online and I wanted to ask what you guys prefer (I predict the answer to be, prefer not to buy at auction but many of us do, so here goes) After spending many days, trying to buy stock at the right money at various physical auctions - often walking away empty handed (but a full belly, love auction cafe), I thought I would try BCA Online on the basis that I am warm and dry and can drop in and out as my watched vehicles come along, it also has all the information at my fingertips rather than rifling through a catalogue propped on my knee whilst holding a coffee in the other hand and a pen in my teeth. Yesterday, I had several online bids but was seriously outbid on 27 cars, most making close to retail money. Was I dissapointed? No - because at least I hadn't spent three of four hours hanging around in the cold, breathing in some carbons then only to sit in traffic travelling to and from to no avail and burning the ozone. So, the question (for those who use auctions: Physical or Online please and can you trust the mechanical/damage reports as I will only bid on assured vehicles online. Regards, Mark

I would drop the car - it will come back and bite you I reckon but I am no mechanic.

Thank you for your kind words and I have to admit, the neighbour situation is my biggest fear, although nothing has been said as yet, I struggle to get the feeling out of my head. I should be delighted when someone wants to view a car but instead, I just worry how it looks to have a neighbourhood stranger crawling under cars, reving the engine etc. This is one of two drawbacks over running a pitch. I do have quite a lot of land to the side of my property and with some adaptations, that would shield the business completely from the neighbours but again that is costly and not fool proof. I like your advice about the local garage venue though, thanks for that top tip. How do you other home traders manage the situation? Thanks again and what a nice warm welcome I have received.

Thanks harry1

I made my own using Excel, then added my logo - meant I could print them rather than a scruffy mechanic finger print on them. Happy to send you it by email?

I plan on paying myself a car allowance and renting one from myself to cover this issue - funnily enough, the allowance is very similar to the rental! Seriously though, if you tax a car properly whilst the V5 is in the last keepers name, will they not receive any refund instead of you?

Couldn't agree more trade vet and when I was 18 (I am 44 now) I was guilty of buying cars that A) I liked personally and B)) cars that I could run on my trade policy when none of my mates could insure a plastic pig for less than a years wage. Nowadays, I just like every car - my daily driver is a Q7 but I've just picked up one of my two retail Coopers from the garage (I do well with them before I get slammed) and that's a real hoot too, as was the Fiat 500 I swapped over for MOT. The only issue now is TAX - I used to use whatever had some remaining rent before cashing in a complete months but of course now, nothing is taxed (apart from the Q7). I am waiting on my trade plates arriving, so have winged it since I properly set up a couple of weeks back. I find the police say they don't have the resources to patrol like they used to but I bet you a tenner I get pulled!

I had a pitch and workshop (approx 30 cars, ranging from £1500 runarounds to £7,500 cars) for about 4 years (not that long I know) and I never, ever stopped enjoying the industry, the cars or my customers and always looked forward to work - I packed in because the overheads which I admit I jumped in to too quickly crippled me during a long and very quiet sales period in around 2005. When I worked alone, I made some great margins, trading from a £100 per wk open pitch and a portacabin office. My immaturity and naivety led me to believe I could take on a large 3000 sq ft workshop/bodyshop and staff it as I was selling cars so frequently and at very healthy margins - I hadn't experienced any "hard times" until then, believing that this is how things would always be. Lessons learned and now I am happy trading up to a dozen cars from home at any time all by myself and outsourcing as much as I can. Will I make as much money as I did as a recent employee, probably not - am I happier, 100%.

Regardless of how recently any car I purchase (through whatever source) has been serviced, I always send every single one to my local garage for PDI and at the bare minimum an oil service. I pay £30 for PDI (that's what I offered, I am sure he would do it for nothing because I have cars with him all the time) and about £45 for oil and filter (plus the all important stamp). I think the £100 ish is a worthwhile investment but my cars are never the cheapest (and they never were when I traded years ago either.

Thank you Both for the welcome

Hello All I have been reading various posts on this forum and I have to say how great it is that you all share your success and failures so openly, it really helps us Newbies (or maybe not so new) regarding the pitfalls, where to advertise nowadays and source stock (although no-one seems to know that right now). So I decided to register and join in the chat and perhaps I may be able to contribute some assistance as well as receive some from time to time. I originally started buying and selling cars when I was 18 for a while, more of a hobby alongside my first job until I started to find better jobs which then took over. Having said that in the early noughties, I started again on a serious level – opening a pitch initially and started making some serious cash before I invested in the workshop and the staff from next door, at which point it went a little pear shaped and I got out. Since then I have been out of the motor trade, working in senior level corporate companies at board level for some 12 years or so, that was until July last year, when I just decided this wasn’t for me anymore and have since been taking some time to consider what I want to do next. Anyway; long story short, I am a mad petrol head, I know many people describe themselves as such but I am the real deal. So after about 8 months of being messed around by my new pet hate (recruitment consultants), I decided to give it another bash and before I hit the VAT threshold (it comes all too quickly), thought I would fill my boots and buy a few motors to sell. Learning from experience, this time it will be me, no staff, just a friendly and well respected local garage whom will perform any workshop tasks and trading from home where I have enough space to trade comfortably, whilst trying not to cheese off my neighbours. Sorry for the long intro but just wanted to give you an insight rather than bombard people with questions from the off. All my best, Mark