is there any money to be made in selling second hand cars?

I would say so - i had a client who did this from his home. Simply using the autotrader and picking up bargains. You need to know what you are doing and a little about cars, so you dont end up buying a pup!

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Greedyboy is the best man to speak to about this.

There is definately money to be made, especially in the current climate where people arent making major purchases such as new cars. The biggest thing to bear in mind is that you are quickly over the 68k VAT threshold which will eat into your profits once you start having to give the taxman 17.5% of your sales. If your selling 5k cars then your into VAT after just 14 sales, which could take you only a couple of weeks

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i would look to review the 2nd Hand Car Scheme for VAT purposes first - VAT in this case is chargable on the Margin, NOT on the final sale price.

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There is definitely some money in this game, but as Looks4u said, you need a decent knowledge of cars and what to look for. Being able to repair and service them is also a big bonus.

I tend to buy and sell my cars every few months just for something new (if the wife permits me ), and I am up on my initial investment. e.g. I bought my last car and kept it for 10 months (which is unusual for me). Sold it at the start of January and made £200 clear profit. That's not bad for an investment 10 months on.

We're not talking big bucks here, but you can see how buying the right car can make a decent profit, even a long time after purchase.

I tend to find my cars on various classified websites, but not on autotrader. Never had a good car from Autotrader.

ok, well thank you all for replying!

ive been buying and selling cars for about six months now and purchased off ebay, the bridlington motor auction and even cat c or d cars from the scrap yard. i always buy in at less than £500 and do as much work to it myself, but i find the garage bills take most of the profit away.

for example i bought a fiat bravo (P reg) off ebay for £188 which was only running on 3 cylinders and seemed a bargin. but it needed a valve doing and the garage charged me £600!!!

i always managed to sell by advertising in the hull daily mail, ebay, the notice board at morrisons taking a profit on some cars of about £200 but it seems more like a lottery ticket than a reliable income.

We have been doing this on the side for many years now. Always buy from ebay or my local paper.
In fact picking up another on Saturday (loving the people who clearly dont know what their cars are worth )

But tbh if we couldn't do the work ourselves, it would not be worth it. Plus its a bit of a hobby.

Good luck to you, keep learning and the more you can fix yourself, the better it will be

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Originally Posted by eddie rex

ok, well thank you all for replying!

ive been buying and selling cars for about six months now and purchased off ebay, the bridlington motor auction and even cat c or d cars from the scrap yard. i always buy in at less than £500 and do as much work to it myself, but i find the garage bills take most of the profit away.

for example i bought a fiat bravo (P reg) off ebay for £188 which was only running on 3 cylinders and seemed a bargin. but it needed a valve doing and the garage charged me £600!!!

i always managed to sell by advertising in the hull daily mail, ebay, the notice board at morrisons taking a profit on some cars of about £200 but it seems more like a lottery ticket than a reliable income.

Well its nice to see someone from my neck of the woods once in a while, lived in Brid for 10 years up until June when I migrated to Scarborough.

Back on topic, there is plenty of money in second hand cars. My family has been buying and selling in this area now for a good few years and not managed to do too badly out of things.

Hope it all goes well for you.
Dave

I also do it as a bit of a hobby, tend to stick around the 3-6k mark and most people over that amount will require finance. Pick them up anywhere, local auctions ex motability cars etc, low mileage fsh
usually cant go wrong.
Buy cheap sell cheap and move on