buying and selling cars

jimbob17

hey just wondering is there profit to be made from buying cars doing a bit to them and selling them on again ..is there many people doing this and are ye sucessful or not just curious thanks

Drummerboy08

I made a million quid doing it last year, watch Wheeler Dealers and see how they do it.

Aint Eazy Being Cheezy

Have you got an eye for a bargain? Are you good at negotiating? Are you handy at fixing any niggles a car may have?

Do you have somewhere to park them?
Do you have money for new stock?

Of course there's money to be made if you can answer yes to all the above. If you can't, think very carefully about it

jimbob17

jar_of_coins wrote: »

Have you got an eye for a bargain? Are you good at negotiating? Are you handy at fixing any niggles a car may have?

Do you have somewhere to park them?
Do you have money for new stock?

Of course there's money to be made if you can answer yes to all the above. If you can't, think very carefully about it

i was just wondering i would be good at the bargain and negotiaion part anyways not great with the fixing but would fix small things no boder might be a plan for the times ahead

Aint Eazy Being Cheezy

http://touch.boards.ie/thread/2056714098?page=1#post_79976441

I'd think of a different career path tbh

jimbob17

jar_of_coins wrote: »

http://touch.boards.ie/thread/2056714098?page=1#post_79976441

I'd think of a different career path tbh

yes but didnt buy that car just another lad using me account...i told him not to buy that car

Celly Smunt

trade small and fast.Too many people expect to have a garden full of mercs to bring in thousands only to find they can't shift anything.Buy a nice micra for cheap,sell it for €100 profit and repeat.

jimbob17

pmcmahon wrote: »

trade small and fast.Too many people expect to have a garden full of mercs to bring in thousands only to find they can't shift anything.Buy a nice micra for cheap,sell it for €100 profit and repeat.

this is my idea thaks

Ded_Zebra

If only Cgal was still here

Light Switch

Unless you can do maintanence work yourself properly (Not just bodge it) forget about it.

You'll have to go see about 3 cars on average before you get a worthwhile one, I presume your taking around the €1k mark, So rust would be a major factor at this level.

How will you work the log book? Are you going to put them into your name?


Are you going to buy the car and re-advertise straight away, or say do a service, Change a tyre, Maybe do the T.B, Valet it etc...?


ETA: Can you afford to lose money?

corktina

yeah. I'm on my fourth. Lost €200 on the first, gained €200 on the second, can't sell the third, fourth one the engine blow up. I don't think there will be a fifth

Xpro

Be prepeared to deal with revenue aswell, unless you register for a vat number. To many wheelers at the moment, and revenue is after them

Light Switch

Xpro wrote: »

Be prepeared to deal with revenue aswell, unless you register for a vat number. To many wheelers at the moment, and revenue is after them

How do they try catch them though?

Also what's the legal number before your classed as a trader?

sheehan12

Xpro wrote: »

Be prepeared to deal with revenue aswell, unless you register for a vat number. To many wheelers at the moment, and revenue is after them

what a load of sh*t you are just trying scare people .i guess you a car dealer trying selling over price car

sheehan12

xpro i see you gone offline now

jimbob17

corktina wrote: »

yeah. I'm on my fourth. Lost €200 on the first, gained €200 on the second, can't sell the third, fourth one the engine blow up. I don't think there will be a fifth

Whats the make model details of the one you have at the moment and the price

Aint Eazy Being Cheezy

jimbob17 wrote: »

Whats the make model details of the one you have at the moment and the price

Your asking the wrong question. You should be looking to know the make and model of the one he made a profit on

George Dalton

Light Switch wrote: »

How do they try catch them though?

Also what's the legal number before your classed as a trader?

€75000 over a 12 month period. Pretty difficult to make any real money without going over that threshold.

sheehan12

George Dalton wrote: »

€75000 over a 12 month period. Pretty difficult to make any real money without going over that threshold.

how will revenue know when most sale will be cash in hand and he can import car from uk to make some more money. not a bad way to make some cash on the side if you can most of repair youself

L-M

sheehan12 wrote: »

how will revenue know when most sale will be cash in hand and he can import car from uk to make some more money. not a bad way to make some cash on the side if you can most of repair youself

The revenue are after the lads who referee a kids soccer match of a Sunday, be under know illusions they won't find you

Also, bringing UK reg cars around is a whole different ball game and you'll land yourself in it before you can say audit.

sheehan12

[QUOTE

Also, bringing UK reg cars around is a whole different ball game and you'll land yourself in it before you can say audit.[/QUOTE]
can t see how if i import said 3 car in my name and 3 car in my 2 brother name that 9 car and do that ever year they could be up 8 thousand euro made in the import car and buy some more car in ireland they could be good living in it:D

L-M

As long as you bring them in and register them straight away, leaving them sitting around on Uk plate is only going to be looking for hassle. I'm sure there's nothing stopping you changing you're mind about the car you've bought and making a few bob in the process.

sheehan12

Limerick man wrote: »

As long as you bring them in and register them straight away, leaving them sitting around on Uk plate is only going to be looking for hassle. I'm sure there's nothing stopping you changing you're mind about the car you've bought and making a few bob in the process.

true they could be few bob in it and get it nct it could be someone pride and joy

Xpro

sheehan12 wrote: »

what a load of sh*t you are just trying scare people .i guess you a car dealer trying selling over price car

HAHA.. maybe i scared you:)

Not trying to scare anyone as i couldnt care less whether someone sells cars privately or not.

But i can tell you plenty of people have been caught out selling cars on donedeal, carzone,etc

Go figure it yourself

discombobulate

I'm sure theres probably a couple of cars that can be bought in the UK, VRT paid and then worth more to make a few quid no?

Finding out what the cars brought from the UK that have the biggest difference between UK selling price + VRT in comparison to Irish selling prices could possibly be a plan.

jimbob17

Xpro wrote: »

HAHA.. maybe i scared you:)

Not trying to scare anyone as i couldnt care less whether someone sells cars privately or not.

But i can tell you plenty of people have been caught out selling cars on donedeal, carzone,etc

Go figure it yourself

and plenty people caught buying them aswell lol

Esel

Be sure that the neutrual gear is easy to find in any car you are thinking of buying....

Light Switch

Esel wrote: »

Be sure that the neutrual gear is easy to find in any car you are thinking of buying....

And the flux capacitor.... ****ing nightmare to replace them!


Anyway, Is it legally you can shift up to €75K worth a year before being classed as a trader?

mgbgt1978

If it's neutrual you're after it can be bloody hard to find.....if you just want neutral then it's an easier job.

@Mods, I was going for the pun, rather than being pedantic.

discombobulate

Light Switch wrote: »

Esel wrote: »

Be sure that the neutrual gear is easy to find in any car you are thinking of buying....

And the flux capacitor.... ****ing nightmare to replace them!


Anyway, Is it legally you can shift up to €75K worth a year before being classed as a trader?

Over 75k you have to pay VAT. Not sure how many you can sell but legally if your buying one to make profit from you'd probably be liable to pay tax i'd say

sheehan12

Xpro wrote: »

HAHA.. maybe i scared you:)

Not trying to scare anyone as i couldnt care less whether someone sells cars privately or not.

But i can tell you plenty of people have been caught out selling cars on donedeal, carzone,etc

Go figure it yourself

more scare tacitics .there no hope of getting caught .like most people will put maybe 15 car in my name and then put more car in brother and sister name if revenue came around they couldnt prove noting just said i made no money in those car just check my bank balance;)and said is they a limit on car i can own in a year and they will said no:D

AltAccount

sheehan12 wrote: »

more scare tacitics .there no hope of getting caught .like most people will put maybe 15 car in my name and then put more car in brother and sister name if revenue came around they couldnt prove noting just said i made no money in those car just check my bank balance;)and said is they a limit on car i can own in a year and they will said no:D

You do know that if they want to find out if you're selling cars, they'll just ring your for sale ad and ask to buy the fcuking car.

If you're selling 15+ cars a year and they don't catch you, it's because they haven't noticed you, not because you've out smarted them.

sheehan12

AltAccount wrote: »

You do know that if they want to find out if you're selling cars, they'll just ring your for sale ad and ask to buy the fcuking car.

If you're selling 15+ cars a year and they don't catch you, it's because they haven't noticed you, not because you've out smarted them.

you will have difference phone number for ever car so i will know what car they a look for when they call and if they said have you any another car for sell i said no. and if they said why are you sell it i will said i need a 4by4 to pull the boat:p

AltAccount

sheehan12 wrote: »

you will have difference phone number for ever car so i will know what car they a look for when they call and if they said have you any another car for sell i said no. and if they said why are you sell it i will said i need a 4by4 to pull the boat:p

Wow, you really ARE smarter than the guys who investigate this kind of thing all day every day.

Good luck with your venture.





OP, don't take any of this guy's advice.

-Corkie-

AltAccount wrote: »

You do know that if they want to find out if you're selling cars, they'll just ring your for sale ad and ask to buy the fcuking car.

If you're selling 15+ cars a year and they don't catch you, it's because they haven't noticed you, not because you've out smarted them.

You must also give the revenue your pps number when paying the VRT. I dont think his brother would be comfortable with him doing that. The revenue are not stupid..

sheehan12

AltAccount wrote: »

Wow, you really ARE smarter than the guys who investigate this kind of thing all day every day.

Good luck with your venture.





OP, don't take any of this guy's advice.

because he don t want you to make any money:p

Gumbo

Havent lost money on a car since 2006 And ive had about 10 since then!
Ive been really really lucky, or wise as some may say

sheehan12

-Corkie- wrote: »

You must also give the revenue your pps number when paying the VRT. I dont think his brother would be comfortable with him doing that. The revenue are not stupid..

i know that. that why i only put 3 import car in my name a year and more in my brother and sister name

goz83

Ive seen a few people sticking one, or two types of car, getting to know them well, breaking pieces of crap to make good cars and turning a small profit for it. Think of it as more of a hobby, because you won't make much at those levels. Margins too small and potential for trouble too high.

AltAccount

sheehan12 wrote: »

because he don t want you to make any money:p

I don't want them to blindly/stupidly presume they can sell lots of cars, make lots of profit, and not expect the Revenue to take an interest in their share of those profits.

It's not an easy game, and unless you know what you're doing you stand to lose more than you gain, but I wish the OP all the best with it.

sheehan12

goz83 wrote: »

Ive seen a few people sticking one, or two types of car, getting to know them well, breaking pieces of crap to make good cars and turning a small profit for it. Think of it as more of a hobby, because you won't make much at those levels. Margins too small and potential for trouble too high.

very true no money in it ;);););)

AltAccount

sheehan12 wrote: »

very true no money in it ;);););)

How many have you sold, how much profit have you made, how much hassle was it, what kind of mechanical/sales background do you have?

sheehan12

AltAccount wrote: »

How many have you sold, how much profit have you made, how much hassle was it, what kind of mechanical/sales background do you have?

my brother has a farm and i have a shed there and my mechanical skill would be same as a mechanic for the record i sell no car;);)

AltAccount

sheehan12 wrote: »

my brother has a farm and i have a shed there and my mechanical skill would be same as a mechanic for the record i sell no car;);)

So none that you'd admit to, none that you'd admit to, no information for the OP on how hard or easy it is to fix/sell cars, you're fairly mechanically minded.

What help is any of this to the OP beyond your recommendations to avoid paying tax?

bazz26

Maybe Revenue are reading this thread.

Jellicoe

A mate works in revenue, they check done deal, classified ads etc., and the mobile phone no.'s etc. regularly for any type of regular trading / services. They get loads of clowns that way. The more cowboys they catch the better I say.

msg11

Revenue chasing down a few small time car dealers, while the banks run riot with billions. Sure revenue should be going after the local drugs dealers they pay 0% tax and there profits are 75,000 on a 4 week basis.

Jellicoe

Not just car dealers, all sorts of regular cash buying and selling in the small ads

I agree with the rest of your post, but if you aint used to how Ireland works by now, you never will be. The golden cirlce can do what they like in this country. Always could, always will.

AltAccount

msg11 wrote: »

Revenue chasing down a few small time car dealers, while the banks run riot with billions. Sure revenue should be going after the local drugs dealers they pay 0% tax and there profits are 75,000 on a 4 week basis.

Financial Regulator & Central Bank look after the banks (or not).

Revenue look after taxes.

There's a division of the Gardai for chasing drug dealers.

sheehan12

Jellicoe wrote: »

A mate works in revenue, they check done deal, classified ads etc., and the mobile phone no.'s etc. regularly for any type of regular trading / services. They get loads of clowns that way. The more cowboys they catch the better I say.

it lucky i change my phone number ever time i sell a car

AltAccount

sheehan12 wrote: »

it lucky i change my phone number ever time i sell a car

You're talking through your hole