buying at auction

[homerjay]

as im mentioned before i have always had newish cars but used finance to aquire.

but im now trying to buy my next car without finance and possibly build up to something special.

plus, in the meantime ive got a change to get through a few different, interesting cars, 1 every 3 months so perhaps.

obviously the cheapest way to buy a car is at auction.

ive no initial intention of selling for profit, but obviously if a see a bargain, than i can sell on at a later date for a few quid then why not?

basically, how many cars can a buy and sell per year before i am considered a trader?

is there even any limit?

do i have to declare any profits?

thanks

[Dick_Phallus]

homerjay said:

as im mentioned before i have always had newish cars but used finance to aquire.

but im now trying to buy my next car without finance and possibly build up to something special.

plus, in the meantime ive got a change to get through a few different, interesting cars, 1 every 3 months so perhaps.

obviously the cheapest way to buy a car is at auction.

ive no initial intention of selling for profit, but obviously if a see a bargain, than i can sell on at a later date for a few quid then why not?

basically, how many cars can a buy and sell per year before i am considered a trader?

is there even any limit?

do i have to declare any profits?

thanks

You'd be surprised....

Also buying at auction is the quickest way to pick up an absolute shed.

[CampDavid]

As said, it's not always the cheapest way and you strictly need to declare any profit you make. In reality changing every 3 months won't be a big problem and you'll find that you won't make too much off it, at least not straight away on cheap kit.

Have a search, there are loads of threads on this

[anonymous-user]

I'm pretty sure you wont be considered a trader as long as you are using these cars as your main car and have them registered in your own name with a private policy.

[homerjay]

im not gonna get auction fever. i have a decent idea of what a car is worth. plus im not looking for cheap bargains, im looking for decent cars.

im planning to register and insure in my name.

i may keep for a couple of months, i may keep for a year if i find the right one.

i just need a clear consciouns that if i get through i few in a short period, im not doing anything untoward?

cheers guys.