Car trade advice

[MC21 1]

Hi all

So I am looking to set up a used car business and just reaching out for some basic advice on the necessities. 

 

Trade insurance - who do you use? Recommnend? Hints and tips?

 

Warranties - I believe a warranty must be provided for 6 months after the sale? Who do you use? Do you always use third party company or expect the chance of having to stand on returns/repair costs yourself? Any hints tips  

 

Pricing - am I right to say CAP Black book trade price for buying, and Glasses retail price for selling? Any hints tips. 

 

Any feedback and and discussions would be great. 

 

Cheers

MC

[Tom 164]

http://cardealermagazine.co.uk/forum/forum/8-frequently-asked-questions/

[betginge 73]

1 hour ago, MC21 said:

Hi all

So I am looking to set up a used car business and just reaching out for some basic advice on the necessities. 

 

Trade insurance - who do you use? Recommnend? Hints and tips?

 

Warranties - I believe a warranty must be provided for 6 months after the sale? Who do you use? Do you always use third party company or expect the chance of having to stand on returns/repair costs yourself? Any hints tips  

 

Pricing - am I right to say CAP Black book trade price for buying, and Glasses retail price for selling? Any hints tips. 

 

Any feedback and and discussions would be great. 

 

Cheers

MC

MC 

Experience is key, 100% commitment, and Money. 

if you have not worked in the motor trade and crucially in vehicles sales starting a used sales business could be a potential failure, its hard for the most experienced of traders never mind newbies with hardly any experience. (I say this as the questions you are asking would seem to show lack of knowledge of the sector).

This forum has the answers you are looking for, carry out searches and look through the old posts a long with the link that Tom has sent you.

Think long and hard about how you will run your business and be prepared for the good and the bad of being a trader. We all love going to the auctions and buying vehicles and when the deals go through, but that comes with angry customers (screamers), warranty firms that don't pay out, and bad buys that blow your wallet. Oh and Auto trader bill lol. 

 

 

 

[MC21 1]

Yes 7 years motor sales experience. More in general sales. Plenty of patience, commitment and money too. Just never been fully hands on with used stock and don't know the little bits like warranty and best insurances. This forum seems very good though so having a good read through some old posts  

[David Horgan 564]

Trade insurance is a mine field , find a Broker is best advice , one that suits me wont suit you .

You dont have to warrant a car at all if you dont want , various companies exist fro 3rd party to self funded 

CAP To buy and Glasses to Sell , that's an interesting concept  . never heard that one . 

[David Ayers 171]

1 hour ago, David Horgan said:

Trade insurance is a mine field , find a Broker is best advice , one that suits me wont suit you .

You dont have to warrant a car at all if you dont want , various companies exist fro 3rd party to self funded 

CAP To buy and Glasses to Sell , that's an interesting concept  . never heard that one . 

Another spambot resurrecting a 3 year old thread!

[Casper 272]

1 hour ago, David Horgan said:

Trade insurance is a mine field , find a Broker is best advice , one that suits me wont suit you .

You dont have to warrant a car at all if you dont want , various companies exist fro 3rd party to self funded 

CAP To buy and Glasses to Sell , that's an interesting concept  . never heard that one . 

Ive heard that before at that auctions david was years ago mind never used the method myself though but did hear it talked about  

Edited September 11, 2019 by Casper

[15Cars 16]

In the current climate, I'd advise you to stay away unless you have loadsa money. Trying to get CAP retail for most stuff is like pulling teeth and trying to get desirable stuff off the block for CC is is practically impossible. Unless you're really tuned in to your local market and know what you're doing, you're gonna lose a shot load of money 

[DavidOquendo 0]

Think long and hard about how you will run your business and be prepared for the good and the bad of being a trader. We all love going to the auctions and buying vehicles and when the deals go through, but that comes with angry customers (screamers), warranty firms that don't pay out, and bad buys that blow your wallet. skoda rapid Offer