Found 30th Jun 2009
Is anyone here a car trader or does a bit on the side? Had a few questions i needed answering and was wondering if anyone could do that for me.

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8 Comments

go 4 it

Original Poster

got a few questions

1) do you have to be registered as a full time trader?
2) do you have to be registered as a trader at all?
3) do you have to have a registered automotive company?
4) how do i get a traders insurance policy?
5) is there an age restriction?

pretty much all i need to know. may think of more questions though just to warn you

i do know this could be the worst time in history to start with many having to pack in as no one is buying cars and every auction is full of people with their redundancy money thinking they will have a go and pushing prices up,

Get sponsored & become a member of parliament ; car traders are only slightly above MPs in the most hated of job descriptives , so should be in good company . :x

Original Poster

thanks so much for the very helpful comments...exactly the information i was looking for...couldnt ask for two more positive people :whistling:







:x

ok mate asked my old man (as he used to do what your looking to start) and the only question i really got a decent answer for was the traders policy one, when he first got a trader's policy it was as simple as ringing any insurance company for a quote, he only stopped buying/selling car's maybe 2/3 years ago and he said it was getting a lot harder to get a trader's policy, as you had to show you was a ''proper trader'' ie listing the cars sold etc, as when you think about it, its a very cheap way to insure yourself to drive alot of cars lol, with regards to being a registered firm etc, you will see that around 50/60% of those who visit car auctions are trying to do what your looking to start and most of those aint registered, thats not to say its right, you wont get for example those plates that allow you to drive un-taxed cars if you aint a registered firm

Scream;5639776

thanks so much for the very helpful comments...exactly the information i … thanks so much for the very helpful comments...exactly the information i was looking for...couldnt ask for two more positive people :whistling::x



Sorry about that ,Just thought you might need to know,my best mate has actually made so much money doing it he paid his mortgage off but has packed in now and works at B&Q for pocket money,He still has 6 cars sat around as he refuses to sell them for less than he paid for them,Best of luck anyway if you decide to go ahead,

Original Poster

Dub1;5639841

ok mate asked my old man (as he used to do what your looking to start) … ok mate asked my old man (as he used to do what your looking to start) and the only question i really got a decent answer for was the traders policy one, when he first got a trader's policy it was as simple as ringing any insurance company for a quote, he only stopped buying/selling car's maybe 2/3 years ago and he said it was getting a lot harder to get a trader's policy, as you had to show you was a ''proper trader'' ie listing the cars sold etc, as when you think about it, its a very cheap way to insure yourself to drive alot of cars lol, with regards to being a registered firm etc, you will see that around 50/60% of those who visit car auctions are trying to do what your looking to start and most of those aint registered, thats not to say its right, you wont get for example those plates that allow you to drive un-taxed cars if you aint a registered firm



cheers mate :thumbsup: has defo helped to think about going into the trade. i honestly wasnt doing it for the traders insurance policy...thats just a bonus will give it some careful consideration

tonyg1962;5640227

Sorry about that ,Just thought you might need to know,my best mate has … Sorry about that ,Just thought you might need to know,my best mate has actually made so much money doing it he paid his mortgage off but has packed in now and works at B&Q for pocket money,He still has 6 cars sat around as he refuses to sell them for less than he paid for them,Best of luck anyway if you decide to go ahead,



no worries mate. i would probably end up doing the same and keep cars until i get more for them than what i paid for :-D
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