Chaplin

Will check out motor trade check If I did get into classics it would be as a sideline once the general sales was more than self sufficient. Its a long way down the line.

Thanks guys, going to leave VAT until I have to and have the signup forms from HPI today so will get that subscription. I'd really like to get into the modern classics scene later, probably as a side thing rather than 100% but for now it's just about building the bank and learning the ropes.

Thanks, the one thing I really need to look into is VAT. I am obviously way below the threshold at the moment but is there any benefit in registering early in terms of expanses and claiming back VAT on part, repairs etc?

I am not taking a penny out of the business and putting it all back in so hopefully will be able to deal with the inevitable setbacks when they happen. I have had my first in fact with the beetle. Got it very cheap as spares repair with no working roof, drivers window mechansim gone and a few other gremlins. Thought I would be in for a good profit but turns out it was Cat D. I know, I should be checking but it was a deal I found and made there and then so thought it would be ok. As it happened I have sold it and made a bit of profit as it was quite an easy fix (also thanks to the weather). I am about to look into a trade account with HPI. Is it worth doing whilst starting small? Getting individual checks could soon mount up. what does a trade account give you?

I know, and I haven't listed half of it. like I say, its a long term plan

Hi guys, First of all this forum is great. I have learnt loads from you and hope to one day be able to give that back to newbies like myself. I didn't want to post until I was up and running so have waited until now. A bit about me, I have always liked messing with anything mechanical and getting my hands dirty. Have also always wanted my own motor business. I currently work in Civil Engineering and have a 2 hour each way commute into London every day. One of the main reasons for doing this was so I could spend more time with family etc. although I don't mind long hours and hard work if it's going towards building something up for myself. Anyway, I would like eventually to have an industrial unit where I sell cars that are advertised online. Don't want a pitch and all the overheads. I would also like to expand that into doing servicing, Aircon, locksmithing etc. Things which I would usually send out as well as some longer term restos of modern classic and the like.. That's a long way down the line however and at the moment I am trading from home until I have built up enough cash to move into premises. I am doing it all legit, have MT insurance and a set of Lawgistics pads for PDI, Invoice and Test Drive plus trade plates. I've only sold 2 so far but done ok. Been buying spares or repair on ebay. One was Corsa that needed a new windscreen & MOT and the other a convertible beetle with a roof that wouldn't work. Plan on doing a bit less of the fixing up as it takes longer to turn them around. It's all being done on evenings and weekends around the job so a lot of time waiting for parts or until saturday for MOT etc. I have an auction centre round the corner and have spent the last couple of months sitting through and marking down sold prices in the catalogue then comparing them to the going price on AutoTrader etc. so getting a good grasp of prices. Anyway, just thought i'd say hello and thanks for the info on here. I know home traders starting out are hated by some but I can assure you all I am doing it legit and have plans for the future. Regards