New car dealer chat

[MK2baldwin]

something that has been ticking over in my head for years, a scratch im so close to itching.... i know there will be alot of negatives towards car dealers but i love the search of finding cars and to be honest the amount of cars i 'find' and think 'that's a good price' then two weeks later its on a dealers site has always annoyed me... especially when i go back and its sold for good margin using the margin scheme and imagining it need the wheels refurb etc.

now i know its not going to be easy but to start with i was thinking maybe 3 cars 8-10k each and i have a small yard my dad has access to which i can store off road and trade from. At this price point i bet alot of people start to want finance so my question was.... How many cars if any do you need to have to be able to offer finance, will brokers be happy to offer finance via a company with not physical premises etc i.e any recommendations for brokers for small car dealerships/start ups??

thank you

[Mark V GTD]

Maybe watch some of the High Peak Autos videos on YouTube and consider signing up for his car traders training video course? I'm not affiliated but the guy seems to know what he is doing and is happy to share his knowledge.

[SandhurstCars]

There are a lot of finance companies that will happily have you sell their finance packages but you need to be FCA regulated. I looked into it for my small side business but the requirements weren't worth it for me. There are companies that will manage the process for you for a couple of grand I believe

[MustangGT]

MK2baldwin said:

something that has been ticking over in my head for years, a scratch im so close to itching.... i know there will be alot of negatives towards car dealers but i love the search of finding cars and to be honest the amount of cars i 'find' and think 'that's a good price' then two weeks later its on a dealers site has always annoyed me... especially when i go back and its sold for good margin using the margin scheme and imagining it need the wheels refurb etc.

now i know its not going to be easy but to start with i was thinking maybe 3 cars 8-10k each and i have a small yard my dad has access to which i can store off road and trade from. At this price point i bet alot of people start to want finance so my question was.... How many cars if any do you need to have to be able to offer finance, will brokers be happy to offer finance via a company with not physical premises etc i.e any recommendations for brokers for small car dealerships/start ups??

thank you

Have you looked into all the legislation around selling second-hand cars?

[HTP99]

MustangGT said:

MK2baldwin said:

something that has been ticking over in my head for years, a scratch im so close to itching.... i know there will be alot of negatives towards car dealers but i love the search of finding cars and to be honest the amount of cars i 'find' and think 'that's a good price' then two weeks later its on a dealers site has always annoyed me... especially when i go back and its sold for good margin using the margin scheme and imagining it need the wheels refurb etc.

now i know its not going to be easy but to start with i was thinking maybe 3 cars 8-10k each and i have a small yard my dad has access to which i can store off road and trade from. At this price point i bet alot of people start to want finance so my question was.... How many cars if any do you need to have to be able to offer finance, will brokers be happy to offer finance via a company with not physical premises etc i.e any recommendations for brokers for small car dealerships/start ups??

thank you

Have you looked into all the legislation around selling second-hand cars?

And the legislation to be able to offer finance.