Buying cars to sell on

bolger

bolger

bolger

Associate
Joined
21 Jul 2006
Posts
388
Location
Motherwell, Scotland
Considering buying cars out the car auction to clean up and sell on over the summer for something to do.

Has anyone done this?

Is there any money to be made? (i understand iam not going to make a fortune, but not doing anything else so an extra couple hundred a month would be nice!)

Got access to all tools ever required and space to keep the cars, for anyone who has done this or considered it, whats their opinion of it?

Thanks,
 
i think you can only buy/sell seven cars a year before you have to register as a trader, was told this along time ago so may be miles out.

dsb
 
It can be done but auctions aren't always as cheap as you think and you also need a pot of cash for disasters - the heap hidden under a nice shiney motor. You also need a niche market - selling little shopping carts or uber-barges. Always worth a crack and it's hat I would do if I was sacked/made redundant tomorrow.
 
dsb said:
i think you can only buy/sell seven cars a year before you have to register as a trader, was told this along time ago so may be miles out.

dsb
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I heard this a while back, but have had rather more than this amount registered to myself this year. I dont think there is an actual limit at all.
 
Don't forget, you guys are the people the magazines warn us against buying from, traders pretending to be private individuals to avoid the additional responsibility placed on traders under various legislation...
 
[TW]Fox said:
Don't forget, you guys are the people the magazines warn us against buying from, traders pretending to be private individuals to avoid the additional responsibility placed on traders under various legislation...
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Yup, traders have all sorts of things they have to do.. One chap at work shifted a few Mercs and BM's for profit, as soon as the tax man cought up with him he decided it wasn't worth the hassle unless going for it full time.
 
[TW]Fox said:
Don't forget, you guys are the people the magazines warn us against buying from, traders pretending to be private individuals to avoid the additional responsibility placed on traders under various legislation...
Click to expand...
aztechnology said:
Yup, traders have all sorts of things they have to do.. One chap at work shifted a few Mercs and BM's for profit, as soon as the tax man cought up with him he decided it wasn't worth the hassle unless going for it full time.
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What Fox is talking about is buying a lemon of someone and having no form of recourse. What you mate at work is doing is just plain fraud.
 
You have to know exactly what you need to buy, what you are buying, what it might cost and be aware of what you stand to lose if something should happen - and more importantly, why you're buying it. There's no point buying cars you like if they're not much cop to sell, so drop any illusions about marques or models and just concentrate on what sells well, if you intend to do profitably out of it....
 
Good replys thanks,

Certainly won't be ripping anyone off by selling a lemon or such.

But my 306 for ex, looked a right state in the auction when i bought it for £1300, refurb the wheels and done a bit of touching up and it looks a world of difference (http://img.photobucket.com/albums/v260/lanarkrider/DSC00130.jpg)

Thinking 206cc's and vtr's would be easy to shift when people turn up to see them, just need to see what is going in the auctions.
 
[TW]Fox said:
So what would you do if you sold someone a Saxo VTR and a month later the engine let go?
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Well if i bought it and never knew/found any problems after buying and before selling on, then both me and the buyer were unlucky and theres not much i can do if the engine goes pop a month after i sold it.

Same with any car thats sold 2nd hand.

And it came as no surprise to me that you would troll in this thread :p
 
[TW]Fox said:
So what would you do if you sold someone a Saxo VTR and a month later the engine let go?
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Surely a lemon is a car which you know to be a little dodgy when selling it; if you happen to sell a car fully working and it fails soon then it's just bad luck.
 
As I suspected. Under UK law, unless a trader can PROVE the fault was not present at the time of sale, he is liable for the cost of fixing it for 6 months after the purchase date of the car. After 6 months, the onus is then transferred to the buyer to prove it was present at the time of purchase.

Selling cars as a trader is NOT as simple as 'Well its 2nd hand, sorry'. It is a whole world of legislation and consumer protection.

It's only 'just bad luck' if its a private sale.

And it came as no surprise to me that you would troll in this thread
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It's hardly trolling, is it? I am pointing out things which would affect you as a trader, which your responses have shown your previously unaware of.
 
Well i won't be a registered trader as such,

Talking about buying a couple of small cars, cleaning them up and selling them on until i go back to uni.

If you were being genuine and trying to help then fair enough, but it didn't come across that way.
 
bolger said:
Well i won't be a registered trader as such,
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It's not quite that simple - you are a trader if you buy and sell cars for profit, and pretending to be a private seller is misrepresentation and even more hassle.

Flogging cars isn't easy money :(

It's easy money if you don't get caught, but in that sense it's the same as flogging dodgy CD's..

If you were being genuine and trying to help then fair enough, but it didn't come across that way.
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I'm genuinelly trying to be helpful.
 
I did this about 7 years ago just after getting married. Was a real PITA even without adding legisaltion red tape into the mix and the profit was hardly worth it as the effective money earnt went into man hours trawling the auctions and ads.
 
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