(No longer) Looking for a Partner

[Arfur Dealy 823]

9 minutes ago, Del Boy said:

Who’s? Simons? Na he wears a syrup. 

Fig you !! That's enough of that John, all my mates are bald.  

It's genuine original 1968 Simon fluff

[Lucas 9]

Just got my BCA account set up. Now I am ready to purchase. I am ready to take the risk.

[justina3 518]

1 hour ago, Lucas said:

Just got my BCA account set up. Now I am ready to purchase. I am ready to take the risk.

Have you found a partner yet or are you gojng to be selling yourself ? Maybe call your lot titanic.

[Lucas 9]

16 minutes ago, justina3 said:

Have you found a partner yet or are you gojng to be selling yourself ? Maybe call your lot titanic.

No partner yet. Everybody suggested me to start by myself to test the water. Since I am not qualified to work with anyone else. So, I am trying to start at home as the first step.

Edited September 21, 2018 by Lucas

[NOACROSS 414]

Ouch! Man, I'm worried for you/wincing at the thought.  This is going to be painful I fear.

What are you looking at?  What sort of thing are you going to bid on? What price bracket?  Do you have any idea/ any idea what to look out for in regards to do's an don'ts?

Are you going to go the auction or just going to buy online?

Do keep us posted.  This will be very interesting to all (including others looking to start up in this minefield)

I would just buy something that you would like maybe if you were a customer. What sort of thing do you like?

 

[David Horgan 564]

1 hour ago, Lucas said:

Just got my BCA account set up. Now I am ready to purchase. I am ready to take the risk.

May lady luck be on your side too. 200k won't last long in this industry . Hope it works out , god knows you've spent too much already eg 7k for insurance is eyewatering as a sole trader , plate fees , bca fees , adverts costs and you haven't got a single car yet .

Brave guy I'll give you that 

All the best 

[NOACROSS 414]

(This Magazine did a feature for a few issues on 'So You Want To Be a Motor Trader'. I must admit to not reading it in depth myself,  but I guess there is some good info there for you? Might be worth looking this up, or maybe Andy can point you in the right direction?)

[Nick M.K. 574]

8 minutes ago, NOACROSS said:

This Magazine did a feature for a few issues on 'So You Want To Be a Motor Trader'. I must admit to not reading it in depth myself

+1. 

[Lucas 9]

Thank you NOACROSS. Be honest, I have totally no idea what I am going to bid on. What I can do is just go to the auction and have a try. I know this sounds stupid, and it most likely will go wrong. But I don't have any other better way to start with.
Thank you so much for your advice. Will take a deep look at the Magazine.

[It's me 615]

4 minutes ago, Lucas said:

Thank you NOACROSS. Be honest, I have totally no idea what I am going to bid on. What I can do is just go to the auction and have a try. I know this sounds stupid, and it most likely will go wrong. But I don't have any other better way to start with.
Thank you so much for your advice. Will take a deep look at the Magazine.

see what is selling locally ie little cofin dodger cars or prestige or suv etc

buy the best but dont overpay ie dont get auction fever

Edited September 21, 2018 by boring dave
all dnatons for new kyboard gludly ucceptad

[metcars 397]

 

3 hours ago, NOACROSS said:

(This Magazine did a feature for a few issues on 'So You Want To Be a Motor Trader'. I must admit to not reading it in depth myself,  but I guess there is some good info there for you? Might be worth looking this up, or maybe Andy can point you in the right direction?)

I think the magazine is missing a huge opportunity. You know the sort of thing, sign up for 12 monthly instalments, workshop with guest speakers, reduced lawgistics pack. A sort of trade along with CDM? Why not, every man and his dog is doing it on youtube these days?

[NOACROSS 414]

I also think they miss out on the wealth of this forum’s experience. (I know there’s a snapshot of the forum each month but...)

[sparky 274]

3 hours ago, Lucas said:

Thank you NOACROSS. Be honest, I have totally no idea what I am going to bid on. What I can do is just go to the auction and have a try. I know this sounds stupid, and it most likely will go wrong. But I don't have any other better way to start with.
Thank you so much for your advice. Will take a deep look at the Magazine.

Would could possibly go wrong? For either you or you potential customers. 

[EPV 631]

4 hours ago, Lucas said:

Thank you NOACROSS. Be honest, I have totally no idea what I am going to bid on. What I can do is just go to the auction and have a try. I know this sounds stupid, and it most likely will go wrong. But I don't have any other better way to start with.
Thank you so much for your advice. Will take a deep look at the Magazine.

Why are you doing this by the way? Do you love cars? Mechanics? Engineering? Detailing? 

[Lucas 9]

27 minutes ago, EPV said:

Why are you doing this by the way? Do you love cars? Mechanics? Engineering? Detailing? 

Thank you EPV. Because I think this is a good business. So, I just decided to star it. Then I found myself don't know so much about the industry. Luckily I found this forum. And I am so happy to learn something a little by little from the forum every day. I do like cars even though I am not a pro in the industry.

5 hours ago, boring dave said:

see what is selling locally ie little cofin dodger cars or prestige or suv etc

buy the best but dont overpay ie dont get auction fever

Thank you so much boring dave. I will keep an eye on the local stores. One thing I can't figure it out is that shall I sell the similar cars or the different cars compare to the local stores? I have to think about it.

[MrV 66]

On 19/09/2018 at 7:40 PM, Arfur Dealy said:

No, that’s Benji....

Ahaaaaa!! Spot on 

[metcars 397]

12 hours ago, Lucas said:

Thank you EPV. Because I think this is a good business. So, I just decided to star it. Then I found myself don't know so much about the industry. Luckily I found this forum. And I am so happy to learn something a little by little from the forum every day. I do like cars even though I am not a pro in the industry.

Thank you so much boring dave. I will keep an eye on the local stores. One thing I can't figure it out is that shall I sell the similar cars or the different cars compare to the local stores? I have to think about it.

Forgetting cars for a moment. Are you a salesman Lucas? Can you 'read' people? Can you think on your feet? It's either in you or its not. And If it doesn't come naturally, you'll find this job hard work very quickly. 

This topic reminds me of a conversation i had with someone about Trump. And how he is a brilliant and successful businessman? But when you are born into a wealthy family surrounded by expert advisors to evaluate every prospective deal how can you lose?

[tradegirl 112]

18 hours ago, Lucas said:

Thank you NOACROSS. Be honest, I have totally no idea what I am going to bid on. What I can do is just go to the auction and have a try. I know this sounds stupid, and it most likely will go wrong. But I don't have any other better way to start with.

Oh God...this is either a recipe for disaster or your ballsiness will help you win.

1. Don't get excited and overbid. Stick to your margins.

1.(b) don't get excited at the first couple of auctions and bid on a load of cars you have no idea about. If you're unlucky, they'll grant your provisional bids and you'll suddenly have 5-10 cars to prep (possibly repair), PDI, MOT and sell, without knowing if they actually sell well.

2. I'd personally stay away from Audi/VW automatics as we've repaired far too many of them. Also no ford powershift gearboxes.

3. Insignias are crap stay away.

4. Clean and prep your cars well.

5. New MOT and Pre delivery inspection

6. Price well and stick to your guns for the first 2-3 weeks (some traders keep their prices the same for months)

7. Oh most importantly in my opinion is SEE the car before you bid on it. Auction houses aren't usually known for their honesty, and we've seen clocked cars go through auction, scratches and marks left out of photos, and mechanical issues that weren't described for the online bidders. It only takes one car with a problematic engine to wipe out a big chunk of profit.

Plus if there are marks you haven't seen and the car needs painting, then you need a good body shop.

Do you have a mechanic you use?

[Lucas 9]

22 minutes ago, met said:

Forgetting cars for a moment. Are you a salesman Lucas? Can you 'read' people? Can you think on your feet? It's either in you or its not. And If it doesn't come naturally, you'll find this job hard work very quickly. 

This topic reminds me of a conversation i had with someone about Trump. And how he is a brilliant and successful businessman? But when you are born into a wealthy family surrounded by expert advisors to evaluate every prospective deal how can you lose?

Thank you met, I used to be some sort of salesman, but not a good salesman obviously. I did find it's not an easy job already.

16 minutes ago, tradegirl said:

Oh God...this is either a recipe for disaster or your ballsiness will help you win.

1. Don't get excited and overbid. Stick to your margins.

1.(b) don't get excited at the first couple of auctions and bid on a load of cars you have no idea about. If you're unlucky, they'll grant your provisional bids and you'll suddenly have 5-10 cars to prep (possibly repair), PDI, MOT and sell, without knowing if they actually sell well.

2. I'd personally stay away from Audi/VW automatics as we've repaired far too many of them. Also no ford powershift gearboxes.

3. Insignias are crap stay away.

4. Clean and prep your cars well.

5. New MOT and Pre delivery inspection

6. Price well and stick to your guns for the first 2-3 weeks (some traders keep their prices the same for months)

7. Oh most importantly in my opinion is SEE the car before you bid on it. Auction houses aren't usually known for their honesty, and we've seen clocked cars go through auction, scratches and marks left out of photos, and mechanical issues that weren't described for the online bidders. It only takes one car with a problematic engine to wipe out a big chunk of profit.

Plus if there are marks you haven't seen and the car needs painting, then you need a good body shop.

Do you have a mechanic you use?

Thank you tradegirl. Your inputs are really great!
I don't have any good body shop or mechanic yet. Thank you for reminding me that. I have to do some search in my area.

 

[metcars 397]

13 minutes ago, Lucas said:

Thank you met, I used to be some sort of salesman, but not a good salesman obviously. I did find it's not an easy job already.

Selling is a big chunk of the job?

[MattR 177]

one of the most entertaining threads I've seen on here. 6 pages of what is surely a wind up. And if its not......

[tradegirl 112]

7 hours ago, MattR said:

one of the most entertaining threads I've seen on here. 6 pages of what is surely a wind up. And if its not......

If it's not, I need a unit.

[Lucas 9]

I think I'd better come back to this post and say THANK YOU to all of you. I am now doing on my own. So, I have to withdraw this 200K offer.

I am working alone, but I am not alone because of you guys and this forum.  THANK YOU SOOOOOOOOOO MUCH!

Edited December 7, 2018 by Lucas

[Mark101 536]

5 minutes ago, Lucas said:

I think I'd better come back to this post and say THANK YOU to all of you. I am now doing on my own. So, I have to withdraw this 200K offer.

I am working alone, but I am not alone because of you guys and this forum.  THANK YOU SOOOOOOOOOO MUCH!

You can stock some here Lucas and we can share the glory