Steve H

Just starting out

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Hi, Wanted to share my ideas about getting started as a small time car dealer and see if i could pick up any tips and good advice.

After 15 yrs of selling footwear online ive found myself with quite abit of spare time after downsizing a fair bit and getting the operation to run smoothly. Sales produce themselves to a certain extent and apart from the enviable messages and packing im left wondering how else i can earn some money especially as sales aren't as strong as they once were..

Ive sold alot of cars and bikes over the yrs (over 50) and quite enjoy it really. So im thinking why not buy 2/3 £3000 cars at the auctions and try and and make the mortgage every month.

I have a nice double driveway i can use and a downstairs office and try the whole dealer from home thing for awhile and just see where it leads me..

Ive been quoted £1200 for dealer insurance which would cover more cars than i will have and cover the value. I read i need trade plates also, is this right? thought that was what the insurance was for?

Am i right in thinking once i have insurance i can get trade accounts at auction houses? whats the benefit of a trader account over a private buyer?

Any advice would be really appreciated!

Thanks Steve

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Hi Steve. Download the guide from the banner at the top of this page. Ten quid well spent  

It’s a very tough business to get into and get right. 

There’s also loads of threads on this subject on this forum, and forgive me, but we get a lot of these sort of posts, so (once you’ve downloaded and digested the how to guide), spend a day or two reading through old threads. 

Trade plates cover the no car tax bit (with rules and regulations as to when they can be used). 

Good luck and feel free to post any sensible questions once you’ve done the above. 

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1 minute ago, NOACROSS said:

Hi Steve. Download the guide from the banner at the top of this page. Ten quid well spent  

It’s a very tough business to get into and get right. 

There’s also loads of threads on this subject on this forum, and forgive me, but we get a lot of these sort of posts, so (once you’ve downloaded and digested the how to guide), spend a day or two reading through old threads. 

Trade plates cover the no car tax bit (with rules and regulations as to when they can be used). 

Good luck and feel free to post any sensible questions once you’ve done the above. 

Good advice as ever.

I'd add to it that you shouldn't listen to people saying you can't do it or the good old days are gone or it's not like it was. 

Rory off here said numerous times to me and others for that matter, to "just work harder than everyone else" and it's true. Instead of moaning about something not happening, work harder etc. If you have your own successful business then you no doubt have this mentality anyway.

There are a couple of sayings I like.

One from Gary Player, the American Golfer; The harder I practice, the luckier I get"

The other, supposedly George Bernard Shaw; "People who say it cannot be done should not interrupt those who are doing it"

 

Good luck.

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Find yourself a good Bodywork guy and a good mechanic. One of the most important parts of this business, you’ll spend more with them than anyone else 

 

Trade plates if your only having three to start might just be better taxing them - paying monthly to start 

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Hi Steve

I sure you will be OK.You will get plenty of help on here.To give you an idea,guys like me started out washing cars and it took 7 years before I had my own pitch.However there are guys now on here dishing out good advice to start ups who were complete amateurs 18 months ago.

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Research is king, 

Research what sells well in your area.

Research what everyone else isnt doing in your area, you wont make money walking into an auction as a newbie buying bread and butter stuff standing next to the man with a pitch who can ask more for the same car, his buying power power will be better he will get cheaper rates on repairs paint the list goes on.

Research where to buy cars from and at what cost do the math in between see if it stacks up.

Research who can fix them paint them mot them service them.

Research where is the best and most cost effective way of selling the car.

Research logistics from buying the car to getting it for paint mot repair ect

Research what happens when they go wrong.

Ummm.... my point is research is king.

 

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cars sales is the  best way to make a  small fortune..............................  of course we all started with a large fortune but that`s beside the point

 

For my  two peneth.................  its a lot harder than you think, From the outside i would agree it looks "easy money", Pitfalls where you could never imagine,  Every purchase and then every sale is a potential risk and  loss, it will consume time like you can not imagine and you will wonder how we established lot end up carrying it on given all the hoops we have to jump through

Edited by Blenheim Car Sales
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