rossco1

Hi guys, can anyone in the know, help me with abit of advise? im thinking of starting out selling cars, whats the best way to go about doing it? eg do you need to registers as a business? and what sort of gaurantees do you need to give expecting buyers? Anything else i should be aware of? thanks in advance...

Smiggy

go and see your local business gateway, the will have all the regulations etc.

Paddy

Contact the Inland Revenue and let them know your plans, they will give you more accurate advice than anyone on here

You don't have to give any guarantee/warranty at all over and above statutory rights, just get a decent receipt made up. You can't sell warranties anyway unless you're FSA registered which is a waste of money unless you're selling 100+ units a month.

Familiarise yourself with the Sale of Goods Act.

Make sure you're insured properly [including test drives].

Most importantly, it's all in the buying! Any muppet can sell a car but a well bought car will sell itself

Feel free to call me if you want any particualr advice

rossco1

Thanks very much paddy, appreciate that!
ive been doing it on an off in my spare time for awhile now, but would just like to move up to the next stage as so far ive been registering the cars in my own name (v5) an running round in them for awhile, then selling them on....

Paddy

No worries.

If you're going full time you'll just have to notify the National Insurance mob to pay your £27 a quarter [*edit* for your self employed stamps], they'll let the Inland Revenue know and you'll get a tax return at the end of the fiscal year

Go for it mate

Iain Mac

Think about getting yourselves facilities to check HPI - as a trader you are at risk if you innocently buy in a car with outstanding chucky on it.

You will probably want to offer financing if your cars are more than a few hndred quid each, so you will also need a category C Consumer Credit Licence, and probably safer to add the Off-Trade Proemises extension. It's easy enough to apply for, not that expensive, and lasts for three years. Reputable finance companies won't deal with you till they have seen it, but you risk real penalties for offering finance without it.