Entering car trade

[hornbeam 0]

At the grand old age of 50, and having a lot of time on my hands now the kids have grown up, I would like to get back into buying and selling cars, I have a little knowledge from my youth with my dad going to sales, repairing and selling, but I suspect a lot has changed since the 80s. Any advice welcome, or any trader that go to any south east Monday auctions whos brains I can pick or shadow would be helpful. I dont mind buying the odd full english as reward.

 

[Mojo121 229]

If you can't get someone to shadow go down and watch what the other traders and looking at, checking and buying. Take it slow! Stay away from high mileage diesels... or diesels in general! Auctions are tough at the moment so don't get caught up in and buy because you think you're missing out. It's sometimes better to come away with nothing but a learning experience. All the best.

[hornbeam 0]

Thanks, thats the plan, the aim is to start buying late autumn, and from now until then just visit and get a feel. Dont want it to be a big new career, just buy and sell about 10 cars a year. I enjoyed it as a lad, the smell of the petrol and the buzz of the auction, and trying to spot the lemons with a magnet in hand.

[EPV 631]

I'll be slightly unpopular with the older dealers on here and say that if you don't have a good grasp of technology, websites, photos, videos etc you will struggle. People buy cars from the internet these days and unless you're going to set up a roadside pitch (seems unlikely as a start up) then the internet is your showroom, therefore you must be better than everyone else or at least, aim to be. 

I think you need to consider how you're going to advertise, where, what etc before going to an auction and buying a car.

It's good that you have lots of time, you will need it when starting up properly in this industry but if a complete novice like me can do it, anyone can.

That said I have found the best way to learn is to fuck something up and try again, so whilst I'm saying consider all the above, there's nothing wrong with getting yourself a car to sell, fixing it up, looking around at what other dealers do and taking the plunge. Good luck,.

[justina3 518]

I'll be slightly unpopular with the older dealers 

 

I am curious what constitutes "older" these days.

 

[EPV 631]

Just now, justina3 said:

I'll be slightly unpopular with the older dealers 

 

I am curious what constitutes "older" these days.

 

well I'm 40 so, 41.

[justina3 518]

Thats me shipped off to the old folks home then.

[EPV 631]

Just now, justina3 said:

Thats me shipped off to the old folks home then.

Enjoy your well earned retirement!

 

[hornbeam 0]

All the web, photography, internet stuff not a problem, I have had that as my main career, but it is soooo boring, I need a change.

I can do all the basic car stuff, detailing, servicing etc if needed. Just need the info of requirements these days, I will only have one car to sell at a time. So need to know whether I need to let council know as its such a small number of vehicles.

 

 

[EPV 631]

Just now, hornbeam said:

All the web, photography, internet stuff not a problem, I have had that as my main career, but it is soooo boring, I need a change.

I can do all the basic car stuff, detailing, servicing etc if needed. Just need the info of requirements these days, I will only have one car to sell at a time. So need to know whether I need to let council know as its such a small number of vehicles.

 

 

There's plenty of info on that subject on here mate, there will be stuff stipulated in your house deeds that you can't run a business from a residential property or something like that but as you're only planning on doing one at a time and assuming you have good neighbours and you're not going to annoy them I can't see why you need to tell anybody anything.

[justina3 518]

1 minute ago, hornbeam said:

All the web, photography, internet stuff not a problem, I have had that as my main career, but it is soooo boring, I need a change.

I can do all the basic car stuff, detailing, servicing etc if needed. Just need the info of requirements these days, I will only have one car to sell at a time. So need to know whether I need to let council know as its such a small number of vehicles.

 

 

I would spend that golden time you have free going back over this forum you will pick up many cool and very valid tips. 

Remember the old sayings they still bear true even more so these days two of my favorites. 

Profit is sanity Turnover is vanity. 

You make your money when you buy the car as much if not more than when you sell it.

Dont be a sheep its not safe in Wales  (ie dont follow the crowd try and carve our something original and different)  

 

[hornbeam 0]

Cheers, if I can flip about 10 a year that will do me to be honest, and will keep it below VAT, if I keep it to around £5k a car, with about 10% profit, give or take the odd lemon.

Hopefully £5k should help buy a decent car to sell on.

 

 

[Arfur Dealy 823]

15 minutes ago, EPV said:

well I'm 40 so, 41.

In that case I’m an OAP and TV is a fossil....

[BHM 994]

4 minutes ago, hornbeam said:

Cheers, if I can flip about 10 a year that will do me to be honest, and will keep it below VAT, if I keep it to around £5k a car, with about 10% profit, give or take the odd lemon.

Hopefully £5k should help buy a decent car to sell on.

 

 

F*** me, I can’t believe it, you actually sound sensible!   Welcome!

As a newbie you should be on here planning to take on the big boys, make £4000 on a £1000 car, not expect to invest a penny in repairs and think the industry revolves around pretty websites, fancy camera angles & not cars.

Re: working at home, look at the Government Planning Portal website & you’ll see you’ll be fine with your quoted level of business.

[hornbeam 0]

Thanks, when my old man done it in the 70s and 80s, it was an unwritten rule of keeping it below 6 a year, then you can claim your a car enthusiast that likes changing cars, but things have changed with the online snooping the government does now on you bank accounts. I.e buy yourself a £40k Merc and you only earn £10k a year, their software can scan your account automatically against the DVLA register, and you could get a tax bill for earnings, scary.

 

 

 

Edited July 24, 2018 by hornbeam

[Dave2302 387]

5 hours ago, BHM said:

F*** me, I can’t believe it, you actually sound sensible!   Welcome!

Yeah, my thoughts entirely

Welcome, btw I'm older than you and have a very good grasp of Technology, both IT and Vehicular

[trade vet 697]

6 hours ago, Arfur Dealy said:

In that case I’m an OAP and TV is a fossil....

Nice one.....I was correctly described as an IT dinosaur last week.Mind,I have to say there are quite a few ‘special needs’ traders on this forum.....all very inclusive.

[Dave2302 387]

12 hours ago, trade vet said:

Nice one.....I was correctly described as an IT dinosaur last week.Mind,I have to say there are quite a few ‘special needs’ traders on this forum.....all very inclusive.