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What do I need to do (cheapest way) in order to be an official trader? I'm not wanting full time just temporary for say 3 months. I'm in Cornwall and specific cars are virtually non existant and really overpriced dealer stock. My nearest decent auction centres are Bristol but as I'm after a Touran only one maybe two come up each week. I can't keep travelling to Bristol just to view one car at auction, I'd like to have auctionview or simulcast to bid live online, mainly even just to see what prices they are going for to make the journey wirthwhile, but can only have access to this as a full trader.
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What do I need to do (cheapest way) in order to be an official trader? I'm not wanting full time just temporary for say 3 months. I'm in Cornwall and specific cars are virtually non existant and really overpriced dealer stock. My nearest decent auction centres are Bristol but as I'm after a Touran only one maybe two come up each week. I can't keep travelling to Bristol just to view one car at auction, I'd like to have auctionview or simulcast to bid live online, mainly even just to see what prices they are going for to make the journey wirthwhile, but can only have access to this as a full trader.
Buy a trilby hat and start calling everyone "my son" that ought to get you in !!
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Thanks - that REALLY helped!
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No offence, just could'nt resisit it !
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You won't get online bidding with BCA (which I think is who you are talking about) until you've bought their minimum number of cars to qualify which I think is 12 cars in a 12 month period.
They used to do a lower buyers fee after 3 cars in 12 months, not sure if they still do. To get the full package you need to buy 100 cars per year.
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Buy a trilby hat and start calling everyone "my son" that ought to get you in !!
And don't on any account forget the sheepskin coat-that really is the ultimate badge of admission!
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I believe you need to be vat registered and have the appropiate insurance and tax details.Far easier to use an agent.
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Hi,I'm a trader in the north of England ,I'm sorry you're not getting much help from some of the members who've replied ,I'm not sure whether they think its witty ,but then little things have always amused little minds .
Anyway as to your question ,I think you would struggle to make a profit buying from the auction in Bristol ,I used to deal with their northern branches ,the pricing is ludicrous ,most of the stock is bought by car supermarket operators ,where price is less of an issue ,they make profit from finance .the other major problem is the buyers premium /indemnity .This can easily be £500 ,on top of the bid price ,
I buy a lot of stock on e bay ,where you can limit a search to a more local area .say 100 miles from your postcode .
,alternatively you can bid online and pay by credit transfer to companies like paragon and 3G remarketing ,they only operate online .Prices are better than the major auction houses ,fees are much lower at about £120 ,on top of the bid price .joining is easy just give them a ring .
Unfortunately they are northern companies ,but you may have similair companies in the south west .
Alternatively because prices are so much less than the auction you mention .It could be worth the journey to the north to collect the cars.
Good luck with your enterprise ,if you need more help please get in touch .Most members will try to help .
Regards
Tony g
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Hi Tony,
A sensible answer to a sensible question! I tip my trilby to you! Others mock what they don't understand, these people live in the 1980's and I feel sorry for them!
I'd like to thank you and the others on here that gave helpful comments, it's given me a broader view of what I would need to do. I have bought on ebay over the years and even travelled to Scotland for a car, my ratio has been 50/50 - some good and some complete dogs! I basically ran depreciation free for about 6 years. Ebay isn't the place it used to be, no offence but it is now full of traders! All the ads seem to be classifieds from garages and the ones that aren't (private) are being bid on by traders as well so the prices sometimes are more expensive than auto trader! I'll def look into the companies you mentioned, I think that could be the way to go. Its the dealers that are greedy taht cause the problems, lie you said they make the money on finance. As I'm trying to save money and buy cash it appears I'm at a disadvantage now! Used to be a currency people understood!
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(As I'm trying to save money and buy cash it appears I'm at a disadvantage now! Used to be a currency people understood!)
Hi guy ,it's an interesting point you raise ,cash is not a motivator these days for car dealers .
There are several reasons ,the handling of cash can be a pain ,are the notes forgeries . Banks often charge a fee if you pay more than a certain amount of cash into an account .
I ask my customers to pay by bankers draft or better still to pay by bank transfer
The day before they are due to collect the car .
The major reason though, is that the finance companies pay substantial commissions to dealers who organise finance on their behalf ,it can be more than the profit on the car .
Car supermarket operators will often refuse a potential sale if finance is not involved .
Good luck with your search for the touran.
Tony g
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