JDM1983

I picked up a really good mini privately, way less than I reckon I would have paid for it at auction. Trouble with private buying is the time it takes

Well it wasn’t quite that simple Nick, I soon found out the boot switch doesn’t work, the windscreen wipers don’t operate and someone’s nicked all the bulbs out of the interior lights simple enough stuff to sort, but dodging rain showers on the way home was interesting. Out of interest, do you prefer other auction houses such as Manheim?

Thanks chaps, very helpful, paid for the car and drove away

Hi all, after a bit of advice please. Bought a Clio from BCA in Enfield today, before paying did a Motorcheck and the Vehicle comes back as having outstanding finance. Phone Motorcheck, who phones the finance company and the finance is still outstanding, the dealer selling the car has a stocking loan in place against the vehicle which isn’t cleared. Motorcheck advise not to pay for the car, I get why. BCA tell me finance will be cleared within 3 days, I can either pay now, or pay in 3 days. Is this normal, should I be concerned about paying now?

Motorcheck advertise that they quickly and easily correct genuine mileage discrepancies, anyone tried that?

My trade insurance is with Unicom, and they offer trade breakdown cover through ALP. It was £160 for the year, I’ve taken it out but not used it yet so couldn’t say how good it is.

Fair one! Didn’t think such generic words would give a hit. Next time I will try harder

Sorry for a stupid newbie question, but what is DA (dealer auction), what is this, where is it held? Not sounding that attractive from the above comments, but always good to know what’s what

Welcome Max, from one newbie to another. After much thought and reading (on this forum) re warranties, I’ve signed upto the Lawgistics administered warranties today, seems a good way forward for me. James

I take it you have to apply that to every sale regardless of payment method to keep it all above board?

Yes, when you think of it like that, it’s massive. 150 sales...I could only dream

Thanks, I checked IZettle our, their % is a bit higher than Sumup. Sumup doesn’t look like you can take over the phone payments, not sure about IZettle. Im starting to think focusing on bank transfer is the way, but having something like a Sumup or IZettle in reserve might not hurt, especially as it’s only a one off 30 quid, unless you use it of course

Generally 1.75-2%, although some can be 2.5%.

Just looked into Sumup, £30 setup as you say, but 1.69%, which is actually fairly decent for these mobile based solutions. No contract, no other charges. For 30 quid, might be worth having one just in case. Although if you sell a 6k car on it, that’s £100, quite a lot of cash

Thanks for the advice all. Sounds like I’ll be ok without one, I’ll give that a try to start with. The card machine company has actually offered an app, no machine, no contract, same charges (0.3% debit, 1% credit), there is a minimum £20 transaction fee/month. Might try that if I find I need something.

No, doing it all above board and properly

Hi All, Just wondering if I could get a bit of advice on payment methods. I’m just starting out and going to be trading approx 3 cars a month from home. On one hand, I’m reluctant to get a card machine because it’s another monthly subscription. On the other hand, I dont want to put customers off by not having one. Just wondering what you guys have done in the past or think? Cheers James

Love this, so true!

Guy I know owned one, strange bloke he was

Welcome from another newbie

I looked into plumbing Dave, but apparently that trade doesn’t have “overnight millionaire” opportunities, so got go with motor trading I’m afraid (jokes)

Thanks Kelly

They don’t get the concept of depreciation or cost of sale either then...madness

Thanks TV, good advice, that’s exactly the plan. I don’t really like the day job, but that’s what pays the bills so will he keeping it up until such times as this venture proves itself. Thanks Nick! Cheers Rory! Yes, I agree, I’m very passionate about the performance segment. Thanks Mark, some good insight!

Thanks Tradex!