Yet another becoming a part time dealer thread.....
Discussion
SpeckledJim said:
Where to buy from and where to sell from are the two biggies.
How are you going to source cars that you can add what a customer will think is value to, when you're missing all the assets, accoutrements, environments, relationships and contacts of the 'big' and 'old' boys?
ok I get you. Basically there are easier ways to make an extra 20k to 30k in a side business.How are you going to source cars that you can add what a customer will think is value to, when you're missing all the assets, accoutrements, environments, relationships and contacts of the 'big' and 'old' boys?
daemon said:
You could buy a lottery ticket and double your chances of getting rich at it?
hahahah. I wasnt looking to get rich just make an extra £20k - £30k p/annum. I am seriously now just thinking about sourcing a car for 4k to 4.5k running it for a couple of months and then see if I can sell it for 5.5k as a private sale. I would be just testing the water not officially trading, dont worry though I wont turn into one of those to55ers who trade and pretend to be private sellers.
YourWorship said:
hi,
you said you had another business. I obviously don`t know if that company is vat registered on not, but I was under the impression that hmrc lump connected businesses together for vat purposes. if that is the case you could end up having to register your existing business for vat as well, if not already registered.
can you not put a bit more time / effort etc into this company to increase your earnings ?
current business is VAT exempt and yeah I could put more time in there and this is exactly what I am looking at doing. lolyou said you had another business. I obviously don`t know if that company is vat registered on not, but I was under the impression that hmrc lump connected businesses together for vat purposes. if that is the case you could end up having to register your existing business for vat as well, if not already registered.
can you not put a bit more time / effort etc into this company to increase your earnings ?
t400ble said:
Thats all I do
Probably a few more that 4, but it's been free motoring in effect for me for years.
thats great 4400ble. Can I ask how you source your cars? auction/private. I was thinking of going to BCA Derby to have a look at prices. I did give them a call last week to see if they could send me a sale agreed price I could compare against the catalogue. All I wanted to know were prices being achieved on Vauxhall Insignias. I guess I will just get myself up there and invest the time on a recon mission. Does anyone know how you can find out achieved prices at auction, apart from actually sitting through the auction and noting each sale price down. For my first purchase I am looking at an Insignia for Cap price, driving it for a couple of months then selling it on the average private sale price.Probably a few more that 4, but it's been free motoring in effect for me for years.
t400ble said:
Thats all I do
Probably a few more that 4, but it's been free motoring in effect for me for years.
Out of interest how do you handle buyers who contact you with respect to you only having owned the car for 1 to 2 months. Do you say something like 'the wife says the car is too small and she wants an estate' or do you go down the route of I buy and sell cars for a hobby. Having bought a few cars myself I would want to know why someone is selling a car so quickly after buying it. I suppose at the <5k price bracket people are less worried and less likely to be spooked.Probably a few more that 4, but it's been free motoring in effect for me for years.
Hi everyone
I am zeroing in on a Vauxhall Insignia auction purchase. Bedford BCA is fairly close to me and tomorrow they have 13 Insignias at auction and about 30 insignias up on 2 dates next week. BCA told me that I need a BCA gold card (12 purchases min p/year) to be able to view auctions online or a silver card (3 purchases p/year) with a BCA cheque account. Is there anyone out there who has BCA online access who could let me know what the 13 insignias go for tomorrow at Bedford BCA? I am just trying to find out what sort of prices they are going for.
CAP prices. Here is an example of an Insignia 59 plate 2.0 CDTI with £63k on the clock, grade 3 which is in the auction tomorrow.
CAP says
Dealer Price £7600 - £8300
Private Sale £6700 - £7200
Trade in Clean £5700 - £6100
Trade in Average £5300 - £6300
Trade in Below £4800 - £5100
BCA say an warning indicator is showing so it wouldnt be one for me however lets assume there are no indicator lights. CAP is suggesting it should go for £5300 to £6300. I think I would need to get it for £5400 and sell it for £6950 to make it worth it as I would likely have to pay c. £500 buyers fee.
What do you think? anyone help.
I am zeroing in on a Vauxhall Insignia auction purchase. Bedford BCA is fairly close to me and tomorrow they have 13 Insignias at auction and about 30 insignias up on 2 dates next week. BCA told me that I need a BCA gold card (12 purchases min p/year) to be able to view auctions online or a silver card (3 purchases p/year) with a BCA cheque account. Is there anyone out there who has BCA online access who could let me know what the 13 insignias go for tomorrow at Bedford BCA? I am just trying to find out what sort of prices they are going for.
CAP prices. Here is an example of an Insignia 59 plate 2.0 CDTI with £63k on the clock, grade 3 which is in the auction tomorrow.
CAP says
Dealer Price £7600 - £8300
Private Sale £6700 - £7200
Trade in Clean £5700 - £6100
Trade in Average £5300 - £6300
Trade in Below £4800 - £5100
BCA say an warning indicator is showing so it wouldnt be one for me however lets assume there are no indicator lights. CAP is suggesting it should go for £5300 to £6300. I think I would need to get it for £5400 and sell it for £6950 to make it worth it as I would likely have to pay c. £500 buyers fee.
What do you think? anyone help.
Just did an autotrader search for Insignia's sub 70k miles and there are loads around trade for £5950.
CAP prices are bo77ox. To sell I would need to price at £5900 or the phone wont ring. Therefore I would need to buy at auction for £4.6k max. Dont think they will be going that cheap at auction will they.
CAP prices are bo77ox. To sell I would need to price at £5900 or the phone wont ring. Therefore I would need to buy at auction for £4.6k max. Dont think they will be going that cheap at auction will they.
Frimley111R said:
I agree and disagree. They are GUIDE prices only. They take no account of condition, minor damage, service history, MoT, additional spec, colour, regions (where some makes sell better than others) and are at least a month behind the times due to the time taken to compile the info.
TBH with smartphones and access to AT you can access far more accurate information yourself. I really can't see CAP and Glasses lasting much longer in their current/past format.
yes i understand. there may be places in the UK where insignias go cheaper at auction. The trouble is I cant find out unless I have BCA online access, so it's a bit chicken and egg.TBH with smartphones and access to AT you can access far more accurate information yourself. I really can't see CAP and Glasses lasting much longer in their current/past format.
POORCARDEALER said:
Thats why you wont be able to buy from BCA and sell for a profit..the cars will do within 3/400 of what you want to sell them for...I stand at auctions and wonder what the buyers are doing with the cars they buy at the money they are paying...answer is many are using the car as a tool to sell finance and other ad ons
i suspect you are right. I will check it out though and report back. There are tons of Insignias on Autotrader for £5.9k for average condition, 65k miles, 2.0 insignia 59 plate diesels. I am sure these cars will likely achieve £5k to £5.5k at BCA. form other research I did fees for a gold card holder are around £150 on a £5k purchase. I guess dealers are platinum holders and only pay a fee of around £100 this allows the to make a margin per car.100hourweek said:
Do you mind me asking where you are getting those CAP figures? My valuation anywhere from cap doesnt give prices like that.
i used the free valuation from www.cap.co.ukoldnbold said:
If you do find out where they go for a bit less (normally up north)the saving is only likley to be £250 or so. By the time you've travelled to the auction and got your purchase home, if you manage to buy one, you'll have spent probably half of that.
In your position you need to be at the auction to buy, so even if you can save a bit by buying somewhere not local you'll have all the extra agrivation, probably taking a full day off work to attend, mate to give you a lift or an expensive train journey then a taxi etc etc.
You would be better off looking for private sales locally that are badly worded, with little info, crap photo's that have been for sale for more than 2 weeks. Go and view the car and take your time, bid low and you will pick up some bargains. If you are only going to sell 4 or 5 cars a year this will work ok.
Once upon I time I used to source LR/RR vehicles from private sellers to sell on to franchised LR dealers for there used stock, all done over the phone, I never saw the vehicles. Value was from £10K - £50K, its supprising how many people will take a low bid after a couple of weeks of speaking to muppets asking "whats yur best price bruv init" without even asking any questions. You only have to look at the countless threads on here with people moaning what a ball ache selling is. So if you pitch up and sound profesional and explain why your low bidding some will take it. Those that won't you just leave your number and tell them to call if they change there minds in the next few days, again some will call back
I also used to work in sales at a main dealer, we used to purchase 20 - 30 cars a month, none came from auction!
that's good information oldnbold. I like your suggestion of finding private sellers who have a car that's sticking and may take a lower offer. thanksIn your position you need to be at the auction to buy, so even if you can save a bit by buying somewhere not local you'll have all the extra agrivation, probably taking a full day off work to attend, mate to give you a lift or an expensive train journey then a taxi etc etc.
You would be better off looking for private sales locally that are badly worded, with little info, crap photo's that have been for sale for more than 2 weeks. Go and view the car and take your time, bid low and you will pick up some bargains. If you are only going to sell 4 or 5 cars a year this will work ok.
Once upon I time I used to source LR/RR vehicles from private sellers to sell on to franchised LR dealers for there used stock, all done over the phone, I never saw the vehicles. Value was from £10K - £50K, its supprising how many people will take a low bid after a couple of weeks of speaking to muppets asking "whats yur best price bruv init" without even asking any questions. You only have to look at the countless threads on here with people moaning what a ball ache selling is. So if you pitch up and sound profesional and explain why your low bidding some will take it. Those that won't you just leave your number and tell them to call if they change there minds in the next few days, again some will call back
I also used to work in sales at a main dealer, we used to purchase 20 - 30 cars a month, none came from auction!
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