johny1980

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Posts posted by johny1980

  1. Posted

    Hi All,

    I currently use RAC for my vehicle history checks (HPI etc).

    It's £2.99 for a check and + 70p for a valuation and it gets billed at the end of the month rather than individual transactions so it works quite well.

    However, i was wondering whether there where other sites that provide some additional info. such as optional extras and online digital service records?

    If not, whats the best way to access online service records in particular other than main dealers?

    Thanks in advance.

  2. Posted · Edited by johny1980

    Hi All,

    I bought a MK1 Audi TT V6 (only 22k miles!) as a personal/family investment for the future a few months back but have now decided i would like to sell it on.

    I am pondering whether to buy it through my trade business to maximise profit/sale-ability (even taking tax/VAT etc into consideration) and recoup the money back quickly.

    First question is this allowed/ok to do so?

    And, if so do i buy it for what i purchased it privately for, or, can i pay a little extra? - I am not really bothered either way tbh , i am just wanting to be seen to do the correct thing.

    For context i paid 9.5k for it and its easy worth 15K+

    Thanks

  3. Posted

    Probably a point worth making is that if I've actually bought the car and a fault/issues shows up then my mechanic would be the first port of call no matter what kit I've got.

    Im wanting something to check for codes when i test drive something before purchasing.

  4. Posted

    Thanks all, I don't mind spending more tbh (say up to £400) 

    But, it's whether I'd get the use out of it. I'm only wanting to know if there are any apparent major faults .

    I can't imagine myself resetting stuff etc, I'd be scared of breaking something!

  5. Posted · Edited by johny1980
    Mis spelll

    Hey All, 

    Its probably been asked before but what's the best tool overall for checking cars?

    I am a part time trader and had just been winging it with my own judgement and visual checks. But, i got to car sale 34 and have had my first issue that's cost me with a dodgy engine on an A4.

    Ideally looking for something straight forward to use for up to or around £200 but could go higher.

    I had noticed the icarsoft pro, I don't know if that's any good 

    Thanks in advance and all the best for 2022

     

  9. Posted

    Yup I get what your saying.

    But, I've dealt with plenty of nice people through these methods.

    And, come to think of it most of the Messer's I've experienced have been on the phone.

    No matter what the channel of contact you can pretty much tell when someone is wasting your time and act accordingly.

  10. Posted

    Yep marketplace does have a higher percentage of timewasters.

    However, I have arranged plenty of sales through texts, messenger & email without talking to customers until they turn up to inspect/buy.

    It is the way of the world these days and I suspect some of you will be missing out on sales down the line with your stances but appreciate it's your right to do business how you choose.

  12. Posted

    2 hours ago, David Horgan said:

    Its 20% VAT pal not 16.5% 

    If your working on margin and want to see what VAT on  is say a £1000 profit its 1000 divided buy 1.2 = £833.33 so the VAT element is £166.67 on the deal , £166.70 goes to the VAT man , but all the service parts eg tyres , oil , plugs , and advertising VAT can be claimed back , eg you spent £300 +vat on parts advertising  and service you would claim back the £60 from those invoices , This is offset every quarter VAT return so the VAT element on that deal would be £106.70 to pay .

    You can of course claim some fuel VAT , Stationary VAT , Tools VAT , Cleaning products VAT , in fact anything your business needs you claim back the VAT . You never win out but it does make you collect EVERY receipt to claim it back 

    Always made wonder that , If your doing 86k its not worth the hassle is it 

    +1 /\

    Thanks so whats the difference between 'qualifying' and 'non qualifying' as there is examples of 20% and 16.67% there?

  13. Posted

    On 1/5/2021 at 6:16 AM, Frank Cannon said:

    People can still go to work, if they can't do thoer job from home etc, so from where I'm sitting has anything really changed bar not meeting anyone else from another house hold? 

    F*cked if I know now, it's more confusing than a VAG buyer. 

    :lol:

  14. Posted

    On 1/6/2021 at 11:41 AM, Frank Cannon said:

    It's worth going thru the T&Cs of the bigger companies such Cinch etc as they have some very well written clauses.

     

    For example but not limited to:

    £500 retained until V5 sent back....many main agents do this and, interestingly, a Vauxhall dealer does a similar act for service history that has been declared for a px car but, not with the car on handover of said px.

    A set see 'if it fits' mileage is declared, Cinch are more generous than others at 250 miles, then a £1 per mile after that. Personally mine would be something like 80 miles and even that is being soft....that's ample to do a some lengthy trips of an hour or so.

     

    £500, which we will hold pending you returning the most recent V5C registration document to us in accordance with section 12.6. We need the V5C to be returned because the value of the Car will reduce without it; and

     

     

    You are entitled to use the Car to determine the nature, characteristics and functioning of the Car. We consider this use to be similar to a couple of test drives which you would receive if you were buying a Car from a dealer face to face. You must not use the Car after notifying us that you are cancelling the Agreement and you must keep the Car in good condition from the date of Delivery. We are entitled to charge you if the value of the Car has reduced as a result of excessive use by you or any damage you caused to the Car. We may charge you:

    • 12.5.1

      if the Car has been driven for more than 250 miles since Delivery, a fee equal to £1.00 for each mile driven in excess of 250 miles (Excess Mileage Payment); and/or

       

    • 12.5.2

      if the value of the Car has been reduced because it is not in the condition it was in at Delivery, our reasonable costs to repair the Car so that it is in the condition it was in at Delivery (Damage Payment).

     

     

    I have to say, I have never had an issue doing 'long distance' sales....but then again people were so much easier to deal with back pre C19 and, my prep/descriptions are solid and, ALWAYs undersell the car, I won't have it any other way.

    I know the return rate for Cazoo is substantial if, I can believe the delivery driver I spoke to before Crimble time but to be fair to him, some of the descriptions and prep' work I've seen, well you know.

    Family friend is a solicitor and, for a drink he drew up some teas and seas after I engaged a erm 'car dealers legal service' to do them and they made a complete dogs breakfast of the job, embarrassingly so, another story though. I've used these terms and just massaged them from time to time. 

     

     

     

    .....ohh hang on there was one ohh,  years ago when I was selling a lot of Jags, this was a late (then) Jaguar XJ that was bought for a 40th birthday present for a guys wife, who made Margo from the Good Life look happy....both GP's. 

    Husband had bought an XJ6 Sport from me before and, the brief for her Jag was this, that and, the other but, HAD to be Sapphire Blue with Magnolia skin, no, nada, zero movement on that.

    A million photos taken, war and peace listing and a phone call walk around all OK'd, serviced and MOT'd ready to go and paid for up front as I had to store the car for a week. 

    ...guy came up from the West Country (again) and, the wife took one look at the Jag and, I knew she wasn't happy as soon as she opened the door, tooth sucking, nose wrinkling 'n sniffing like I'd dropped one in the car earlier after, a heavy night on the Indian and, she shut the door a bit too smartly.

     

    long story short.....she genuinely thought Magnolia meant grey (that would be Windsor grey ma'm yes really, you'd think with a million houses in magnolia.....) they would of bought and walked but, I just KNEW the slightest excuse she would be rucking.

    So, I unwound the deal, kept a few quid for the hassle to which they didn't refuse so right move on my part I thought, she wanted out and, he wanted out to save him from hell of an unhappy Margo.

    ...sold the Blue and, very much Magnolia Jagwaaarrr three days later at a few 'undred quid more too, if I remember correctly.

     

    Here's the thing though, you can't do business at the moment without doing 'distance sales' so embrace it or go tits up. 

      

    :lol::lol:

  15. Posted

    On 12/20/2020 at 11:28 AM, BHM said:

    Isn’t it tax year to tax year (6th April - 5th April)? Tbh surely it’s academic to most cos unless you’re spreading it around every family member how on earth can you keep below?

    I am a part time trader remember and look like i will be hovering around the 85K mark in my first year of trading, although with things slowing down over xmas a little i should be ok this year if i continue to stock <4k cars.

    To confirm is the VAT rate for car dealing 16.5%?

  16. Posted · Edited by johny1980

    On 12/16/2020 at 7:14 PM, David Ayers said:

    You pay Vat on the difference between the purchase price and sale price, irrespective of profit.

    You can claim back the Vat on purchases.

     

     

    Thanks,

    So i am guessing you can claim back VAT on purchases from other VAT registered businesses or auctions.

    But, all of my car purchases are from 'Joe Public' so i am guessing i can't claim VAT back in that scenario?

    On 12/17/2020 at 6:49 AM, Frank Cannon said:

    Just speak to your accountant, simplesB)

    On holiday until the new year but i will be cheers

    On 12/17/2020 at 9:06 AM, BHM said:

    Let’s put it this way, if I were a part timer running very close to the VAT threshold I’d damn well make sure I didn’t go over it. 

    Yup starting to think that but i either 'stunt' growth or just go for lower value cars.

    I am buying around 3k and selling for 4k at the moment on average so not sure id want to go any lower!

  17. Posted

    Hi,

    As a reminder, i set up as a part time LTD company back in July.

    Things have been going well and if the same trends continues i will be on the borderline for VAT registering in Jul 21.

    I could intentionally slow things down to stop me going over but have been weighing up the pros and cons.

    What i do understand is that i can claim vat back on bills i have paid.

    What i don't quite understand is how it works the other way round.

    Do i have to pay VAT on all profit from sales + corporation tax.....

    Essentially paying tax twice?

  20. Posted

    Hi All,

    I note some dealers offer a service for selling customer cars, ie a fixed fee or percentage.

    I'm just wondering how it works in regards to the  service itself and the accounting in particular. 

    It's something I am considering but I presume you are taking on the warranty risk?

    Any input welcome.

  22. Posted

    I am small fry and just starting up but all but 1 of my cars have been purchased through facebook and I have sold 50% through them.

    Lots of 'chancers' but I would probably have to call myself one when looking to purchase tbh.

    You can tell a lot from someones profile to so get a good idea of who you are dealing with when it comes closer to actually making a sale or purchase.

    • Like 1

  25. Posted

    Thanks Rory / Mat - I am perhaps being a bit apprehensive with the 'warranty pot'. The premise is that apart from the initial loan I do want to keep personal finances totally separate from the business and having a safety buffer in covering any eventuality from the business is appealing. Bear in mind that I am in no particular rush. That said if there is money sat in the bank and I see a car with £'s in I wont be able to resist. I also guess that as stock builds and there are more regular sales there should be money in the account and most points in time to cover any issues!