salt

New Keeper Slip - taxing twice

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Afternoon All,

Firstly, thank you for allowing me onto this forum.  I am newcomer into this field and still learning the ropes having been forced to leave my normal field of work due to work drying up.  I've registered my company, managed to get a trade accounts from manheim and aston barclay and purchased a handful of cars.  Selling them it turns out is not so easy (I was expecting that to be fair!) and currently running each car through a service with my trusted garage before cleaning and advertising. 

A question I have, for which I'm getting a little conflicting advise, is on taxing using the new keeper supplement.  If I were to tax it and someone buys the car from me, can they then reuse the same slip and tax the car to drive away and it remain taxed when I send off the log book (or fill it in online).   I would be taxing via DD which would then be cancelled before the end of the month. 

Apologies for the dumb question, I do  have trade plates, it would be helpful if I could tax one or two cars whilst they are for sale.

And yes... I am a door stepper, as I do not have enough savings to set up a pitch and all the costs that come with it.

Thanks for reading.

 

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The dates are key to this, yes you can tax a car on the green slip twice, but you need to make sure the date you sell it out of trade is the same day entered on dvla site as they taxed it, and paying monthly is a nightmare, if you do not put it into trade the same month the previous owner cancelled their direct debit they will get emails saying they owe dvla, and dvla are crafty if you pay for a month and cancel direct debit its not always good for that month can show as untaxed 

And good luck in your new business its certainly not easy selling cars at the minute with customers not understanding auction prices have rocketed and cannot understand why they are driving round in circles chasing the under £2k market which is flying out and the 5k-12k market much more competition 

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If you tax by DD and keep cancelling the DD when you sell, DVLA will eventually block your bank details and you won't be able to tax again using the same details.

Best of luck with the new venture!

Edited by D&M
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2 minutes ago, D&M said:

If you tax by DD and keep cancelling the DD when you sell, DVLA will eventually block your bank details and you won't be able to tax again using the same details.

Best of luck with the new venture!

:)

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You will get plenty of good help on here and you will need it..One thing,may I ask what influenced you to want to be a car trader.

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Depenends on your bank used to be an ask bank manager need a business account for that 

 

Trade vet loads of my friends think its easy money becoming a car dealer think we print money its not they have tried makes me laugh

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Many thanks all for your replies, I'm grateful.


@Ratt101, Thank you, based on this I won't be taxing any cars, I think it will just be easier to drive on the trade plates when needed
@Casper, @D&M, Thank you
@trade vet, my reasons for entering this trade was, I had a bit of money saved up which, having lost my job, was dwindling and having spent many years advising others on cars, servicing and maintenance and that it has always been a love of mine made me think that I should give it ago.  I'm happy buying cars but was never interested in selling, so this is the new area for me.  I'm prepping the cars and addressing any concerns raised by the garage to ensure I reduce the risk of any comebacks.  I'm getting a bit ott on the valeting side too but ultimately where I'm going wrong is the pricing (I'm presuming) as they are not moving but the ticking clock is costing.

Sorry long story, but I think it was a combination of something I thought I'd enjoy with the expectation that I could earn enough to keep things ticking over financially.  

Thank you all again

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1 hour ago, salt said:

Many thanks all for your replies, I'm grateful.


@Ratt101, Thank you, based on this I won't be taxing any cars, I think it will just be easier to drive on the trade plates when needed
@Casper, @D&M, Thank you
@trade vet, my reasons for entering this trade was, I had a bit of money saved up which, having lost my job, was dwindling and having spent many years advising others on cars, servicing and maintenance and that it has always been a love of mine made me think that I should give it ago.  I'm happy buying cars but was never interested in selling, so this is the new area for me.  I'm prepping the cars and addressing any concerns raised by the garage to ensure I reduce the risk of any comebacks.  I'm getting a bit ott on the valeting side too but ultimately where I'm going wrong is the pricing (I'm presuming) as they are not moving but the ticking clock is costing.

Sorry long story, but I think it was a combination of something I thought I'd enjoy with the expectation that I could earn enough to keep things ticking over financially.  

Thank you all again

Hi Salt

You are probably making the usual mistake of stocking cars that YOU like.I would suggest trying different stuff and work on very low margins until you will find out what the punters want.So you might find it is Zafira’s or Dacia’s or Ssang Young’s rather than A6 Avants or M Sport BM’s .The punters will let you know and you can take it from there. Good luck.

 

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12 hours ago, trade vet said:

Hi Salt

You are probably making the usual mistake of stocking cars that YOU like.I would suggest trying different stuff and work on very low margins until you will find out what the punters want.So you might find it is Zafira’s or Dacia’s or Ssang Young’s rather than A6 Avants or M Sport BM’s .The punters will let you know and you can take it from there. Good luck.

 

Good advice trade vet .. 

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13 hours ago, trade vet said:

Zafira’s or Dacia’s or Ssang Young’s rather than A6 Avants or M Sport BM’s

Too right if he’s dealing at the cheaper end. That is unless he likes dealing with the fussy as f***, big-talking, Champagne taste, lemonade money brigade.

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Thanks again all.

There is definate truth in case of stocking cars I like, but I took it with the approach of the cars I have found to be reliable over the years.  Certainly not the BM's (I like them and up to recently had 2 of my own but don't think I could sell them with confidence).  At present it is a 08 civic hybrid, 14 yaris hybrid and a couple of 10 plate fiesta's.  I won't be delving into older german marks and I've never had good personal experience with Pug/Citroen but may need to change my approach to them.  Got to sell something first though!

The thing with the pricing was I kept it in line with others on the trader and was worried that if I price them too low (where I could) it would look as though there is something wrong with them.  But again, lesson learned, when it comes to re-advertising I will be pricing with a view to keeping margins low.

And I want to thank you all again, your words and time is much appreciated.

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55 minutes ago, salt said:

Thanks again all.

There is definate truth in case of stocking cars I like, but I took it with the approach of the cars I have found to be reliable over the years.  Certainly not the BM's (I like them and up to recently had 2 of my own but don't think I could sell them with confidence).  At present it is a 08 civic hybrid, 14 yaris hybrid and a couple of 10 plate fiesta's.  I won't be delving into older german marks and I've never had good personal experience with Pug/Citroen but may need to change my approach to them.  Got to sell something first though!

The thing with the pricing was I kept it in line with others on the trader and was worried that if I price them too low (where I could) it would look as though there is something wrong with them.  But again, lesson learned, when it comes to re-advertising I will be pricing with a view to keeping margins low.

And I want to thank you all again, your words and time is much appreciated.

price them to sell them and make enough

screw what others are doing

you lead,others will follow:)

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We deal mainly between £5k and £15k  a few over that and under px's, tend to find the £25k plus, hard market they wonder why ours is so cheap (aint got the overheads of main agent) but ours is discounted cos it is too cheap they think there is something wrong, most of our £25k plus have been sold to local people who know us and know we have been in business since 1947. 

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My sdvice would be stay away from sub 5k gear.....the punters will suck your will to liveB)

Best of luck, you obviously have the balls or you wouldn't be starting up the business what with Covid situation. 

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39 minutes ago, Ratt101 said:

We deal mainly between £5k and £15k  a few over that and under px's, tend to find the £25k plus, hard market they wonder why ours is so cheap (aint got the overheads of main agent) but ours is discounted cos it is too cheap they think there is something wrong, most of our £25k plus have been sold to local people who know us and know we have been in business since 1947. 

1947 ,that’s longer than me !

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4 hours ago, trade vet said:

1947 ,that’s longer than me !

When did U start mate 

Edited by Casper

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4 minutes ago, trade vet said:

C reg .......65

Luckily not 67 :D

..... there were two plate year tags from memory 1/67 was E reg', then 8/67 was F reg....hence the amount of E reggies was half the normal amount. 

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50 minutes ago, Frank Cannon said:

Luckily not 67 :D

..... there were two plate year tags from memory 1/67 was E reg', then 8/67 was F reg....hence the amount of E reggies was half the normal amount. 

 

58 minutes ago, trade vet said:

C reg .......65

Thanks lads

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Trade vet its a family business 2nd generation mainly retired, 1st generation sadly no longer with us so 3rd generation now running it now. You like us will have seen the changes over the years still got some of the adverts from grandpas days will dig them out and post them because some the advertised specs make me laugh.

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21 minutes ago, Ratt101 said:

Trade vet its a family business 2nd generation mainly retired, 1st generation sadly no longer with us so 3rd generation now running it now. You like us will have seen the changes over the years still got some of the adverts from grandpas days will dig them out and post them because some the advertised specs make me laugh.

I love the old adverts,extras like w/mirrors,heater and 4 Spd g/box.During the 60’s when strikes were common place we advertised a Moskvich Van.We described it ‘ this van will carry 2000 strike leaflets ‘ and we got into trouble with the printers.

Please post some of the old adverts it might even amuse the younger guys.

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On 9/26/2020 at 4:36 PM, salt said:

Afternoon All,

Firstly, thank you for allowing me onto this forum.  I am newcomer into this field and still learning the ropes having been forced to leave my normal field of work due to work drying up.  I've registered my company, managed to get a trade accounts from manheim and aston barclay and purchased a handful of cars.  Selling them it turns out is not so easy (I was expecting that to be fair!) and currently running each car through a service with my trusted garage before cleaning and advertising. 

A question I have, for which I'm getting a little conflicting advise, is on taxing using the new keeper supplement.  If I were to tax it and someone buys the car from me, can they then reuse the same slip and tax the car to drive away and it remain taxed when I send off the log book (or fill it in online).   I would be taxing via DD which would then be cancelled before the end of the month. 

Apologies for the dumb question, I do  have trade plates, it would be helpful if I could tax one or two cars whilst they are for sale.

And yes... I am a door stepper, as I do not have enough savings to set up a pitch and all the costs that come with it.

Thanks for reading.

 

Yes salt the system of the green slip works twice for sure and more too . . 

Only thing is , you wont get any tax back if the cars in trade . 

Let two payments go out if you pay DD as they will switch your account off if you abuse it . 

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On 9/27/2020 at 4:12 PM, salt said:

Thanks again all.

There is definate truth in case of stocking cars I like, but I took it with the approach of the cars I have found to be reliable over the years.  Certainly not the BM's (I like them and up to recently had 2 of my own but don't think I could sell them with confidence).  At present it is a 08 civic hybrid, 14 yaris hybrid and a couple of 10 plate fiesta's.  I won't be delving into older german marks and I've never had good personal experience with Pug/Citroen but may need to change my approach to them.  Got to sell something first though!

The thing with the pricing was I kept it in line with others on the trader and was worried that if I price them too low (where I could) it would look as though there is something wrong with them.  But again, lesson learned, when it comes to re-advertising I will be pricing with a view to keeping margins low.

And I want to thank you all again, your words and time is much appreciated.

Hi Salt

Welcome to the forum, a great source of info. You come across as a nice chap, make sure youre not too nice to the punters or they will walk all over you.

How much space do you have? If you only have 4 cars in stock, in all reality you will only sell 2-3 cars a month. If youve got space, try and make the cash stretch to 8-10 cars, then youve a chance of earning a living. Fiestas are 10 a penny, (and at the moment book quite high compared to other small cars) so you'll need to be very competitive on price, have excellent pics and have good reasons to pick yours (be it history, ownership, colour etc) to even get the phone to ring. I think the hybrids you have are a bit odd ball but then I've never had one. There's good opportunities by sifting the private ads (facebook etc) if you find auctions tough. Good Luck

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