Car Traders

[biggerbigneil 0]

Anyone know anybody who does this?

 

Just wondered what sort of costs were involved: -

Trade insurance - able to drive any car?

Traders license - if you sell more than 4 cars a year I think you have to register and pay fees

Anything else if it wasn't a main job - just a hobby?

 

Thanks for any info

[Son of a Beesting 0]

My mate is a mechanic and has trade insurance, I think it worked out cheaper than regular insurance as well for his car. I should be seeing him this weekend and if I remember I will ask him.

[Walesy 0]

Yeah, my trade policy insures me and my wife to keep/drive up to 5 cars ( ANY car with ANY modification :) - twin egined VR6 Turbo anyone? ) and it cost me £200 more a year than I was paying to have one modded G60 and a Golf MK3 1.8 Driver on a standard policy. It can be worthwhile getting a trade policy even if you only plan on selling a few cars a year because the cover is so good.

 

You obviously have to pay TAX and NI etc

 

There's no traders license that I know of, you don't have to register or pay any fees. This is something I asked around to find out because I assumed that you had to regester somewhere.

 

Again, i'd say it's worthwhile checking it out if you're only selling a few cars as they're great policies - for example , when I buy a car I just text the reg and 'ON' to them and it's covered immediately, then when the car's sold I just text the reg and 'OFF' and it's taken off, it's bloody usefull. I'm insured to drive 'any car within my possesion' - I can also tax cars having just bought them with my policy which gives you an advantage over those that can't legaly get tax untill they have the insurance document.

 

Check here for a quote :)

 

P.S. Be aware that , no matter how you operate , people don't like car traders :)

[biggerbigneil 0]

Thanks very much! That is really useful, will get a quote now!

How can anyone not like me?

I'll give free tea with any purchase! lol

Anyway, I'll probably make a loss but it will be fun trying it out

[biggerbigneil 0]

Just called them up and they said the minimum is for selling 25 cars a year, this would cost £2,000. I'd be looking at doing half that at most,

[JIMMI 0]

Tradex are pretty expensive as far as trade insurers go, their regulations are a lot slacker than the rest go though! They made an awful lot of money over the years by allowing supposed car traders (read drug dealers etc) to drive cosworths etc on traders policies !

Im insured with AXA and they are excellent ! im covered for any car,van or motorcycle either owned,loaned or under my custody up to a single value vehicle of 100k. AXA however need to see audited accounts to prove you are infact in the trade which tradex and tradesure dont ask for.

One piece of advice tell them you mainly repair cars rather than buying and selling them, this makes a big difference to your policy price !

 

Jimmi........

[biggerbigneil 0]

Cheers Jimmi

Will try Tradesure

I have no accounts to attempt with AXA

[biggerbigneil 0]

Ah Tradesure: -

 

The Tradesure instant online quote estimates your price to be: £913.41

 

This price includes legal which is optional and our policy fee.

 

Tremendous!

[khurrado 0]

Good luck biggerbigneil, Fancy a trip to belgium/germany? Im going again in a few months to pick up another rallye.

[Walesy 0]

Im insured with AXA and they are excellent ! im covered for any car,van or motorcycle either owned,loaned or under my custody up to a single value vehicle of 100k. AXA however need to see audited accounts to prove you are infact in the trade which tradex and tradesure dont ask for.

 

Alot of companios also require that you have a business premises ( I think AXA is one of them , tho I may be wrong )

 

I got my policy through a broker that I get another few things from and he tailored the policy for my needs, that might be a good way for you to go Neil

 

Also have a look through google, that's where I got that link from and there's plenty of others on there

[biggerbigneil 0]

Walesy, - does your broker fancy doing some more business? If so drop me a pm and i'll send you my mobile no, email is mailto:[email protected]

 

khurrado, I would be very interested in sourcing a nice E30 M3, I doubt I'd be covered in Europe - who's your insurance with? You have to pay import tax and have to faf around with uk MOT/Tax no?

[khurrado 0]

biggerbigneil, no comment.

[biggerbigneil 0]

hahaha :lol: