Just throwin' it out there
Discussion
I'm purely testing the water at the moment.
If you had the opportunity to buy a mk1, (mechanically sound, good general condition, highly detailed etc). Would you be put off if someone had bought one, checked it over, serviced it & cleaned it up etc to sell?
I prefer the term enthusiast to dealer! (fully aware of any tax/trading implications etc).
Only asking as I love mk1s, they are easy to work on, cheap to buy etc.
If you had the opportunity to buy a mk1, (mechanically sound, good general condition, highly detailed etc). Would you be put off if someone had bought one, checked it over, serviced it & cleaned it up etc to sell?
I prefer the term enthusiast to dealer! (fully aware of any tax/trading implications etc).
Only asking as I love mk1s, they are easy to work on, cheap to buy etc.
You've got it in one.
For example I've seen a 1.8i, good colour/wheels, v good miles for age, hard top. All for £900.
I'd buy it, service/drive it etc, flog the hard top and look to sell the car for say £1200 - which looks like a v good price.
Make myself a bit of cash and keep another good condition '5 on the road.
For example I've seen a 1.8i, good colour/wheels, v good miles for age, hard top. All for £900.
I'd buy it, service/drive it etc, flog the hard top and look to sell the car for say £1200 - which looks like a v good price.
Make myself a bit of cash and keep another good condition '5 on the road.
Sure why not indeed.
My advice, & only my opinion. Be straight about it with buyers though. There are so many private sale 'traders' who have only had the car a few weeks & are "selling it for me sister guv" This only serves to make buyers suspicious. I have walked from several sound looking cars because the seller appeared to be...well full of s
te.
My advice, & only my opinion. Be straight about it with buyers though. There are so many private sale 'traders' who have only had the car a few weeks & are "selling it for me sister guv" This only serves to make buyers suspicious. I have walked from several sound looking cars because the seller appeared to be...well full of s
te. 
Only things you need to be careful of are (income) tax and insurance.
If you're flipping cars at, say, one a month, you'll be needing motor trader insurance; I think most insurers draw the line at 6 per year before they start smelling a rat, maybe less.
And if I were you I'd keep a close record of exactly what you've bought and sold each car for along with your expenditure (parts, polish, etc). If you're making a profit HMRC will be interested, same as any other business venture.
The one that you've found, great, sounds a good idea. But are there really that many cheap MX5s around that you'll be able to do it often?
If you're flipping cars at, say, one a month, you'll be needing motor trader insurance; I think most insurers draw the line at 6 per year before they start smelling a rat, maybe less.
And if I were you I'd keep a close record of exactly what you've bought and sold each car for along with your expenditure (parts, polish, etc). If you're making a profit HMRC will be interested, same as any other business venture.
The one that you've found, great, sounds a good idea. But are there really that many cheap MX5s around that you'll be able to do it often?
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