Advice Needed from the boffins.

Buford T Justice

Hi Lads and lassies.

I'm thinking of trying to buy and sell a few cars here and there just to turn a few quid. I'm not trying to get rich from this, just want to keep myself busy and turn a few quid to keep myself going.

Basically, the idea is to buy a car that needs a bit of work, for not too much money. Say €1500 or less. Not major crash damage or anything, but light damage or needs a few wheel bearings that kind of thing. Then Test the car and sell it for a couple of quid.

My questions are:
What are the sellers these days, petrol or Diesel? I'm assuming its diesel.
What sort of cars should I be looking for?
Where should I be looking? Done Deal, Carzone, Auctions etc??

Also, is there a limit to the number of cars one can import before having to register or something?

Many Thanks.

Owen

If you sell more than 6 a year, you need to register with the Revenue.

Buford T Justice

PaintDoctor wrote: »

If you sell more than 6 a year, you need to register with the Revenue.

I'm already registered with the revenue as self employed. Is that what you mean?

gyppo

Done a few cars in the same way you mentioned - nct fails on small stuff, or unwanted cars that could have been bought for small money.

Small clean petrol engined cars with a fresh nct sold well for me.
I bought a few on adverts.ie.

Haven't done this for some time though

Owen

Fingers McGee wrote: »

I'm already registered with the revenue as self employed. Is that what you mean?

You'll need to register as a Motor Vehicle Dealer.

If you can suss out a car from a quick looksee and a testdrive yokes with no or very little test can be picked up privately for reasonable cash. Most genuine folk selling privately would be wondering will they sell the thing at all so low enough offers are well worth trying. If you get these yokes past an NCT for less than a couple of hundred and are patient yourself and willing to deal with the other part time dealers out there you could make €300/€400 per car. If you intend not registering as a motor dealer you are best to put the cars in your own name and only stock one or two at a time, one on the road and one as a spare. Having it in your own name could well be the difference between getting rid of it or not and let's face it you don't want to be giving 3 month warranties on these yokes.

If you have the time it's a nice hobby every now and then, as a money making venture it's probably not great given the return.

mondeo

I done this back between 2002' & 2004' with a friend. We had 8 maybe 10 cars at a time at the back of his house in a nice little cosy setup. He bought and I sold kind of thing.
Back then we just bought civics and old BMW's, small hatchbacks and they sold fairly quick. Made a few quid out of it before going our seperate ways as we both went back to collage. He was doing me over anyways the pr!ck selling and saying nothing to me. I know a few lads that have attempted to setup a yard and sell cars but 2,3 months down the line they packed it in for various reason mainly financial. You would want to be fairly cute to make a half decent living out of it as I thought it was really awkward staying afloat with it.

Market research is your key here.

Buford T Justice

Cheers RJ.

Like I said, not looking for something that'll make me rich. Just something to keep my idle hands busy and turn a few quid.

Was thinking that getting them in my own name would be the thing to do. I'd be looking at maybe one at a time just to start, and feel things out as I go.

What' the story with the 6 cars a year thing does anyone know? Where can i get more information on this?

bazz26

Some info here:
http://www.revenue.ie/en/tax/vrt/information-for-traders.html

mdebets

PaintDoctor wrote: »

You'll need to register as a Motor Vehicle Dealer.

Also remember that you have to provide proper warranty if you are selling as a dealer.