Getting Involved in Motor Trading

Getting Involved in Motor Trading

Spread the love
  •  
  •  
  •  
  •  

This post may contain affiliate links which is shown by a *. This means if you click on a link I may get a small commission at no cost to you.

Getting Involved in Motor Trading

Increasing numbers of people are breaking free of the grip of full time employment and are opting to pursue their own dreams rather than building someone else’s dreams on their behalf. This isn’t all too surprising. Besides making your own money and releasing yourself from dependence on your employer, you also get to choose the field you specialise in, the direction that your career takes, and actually enjoy your work. The majority of people who move from employment to being their own boss tend to set up some sort of E-commerce store. This makes sense. E-commerce is experiencing a boost and setting up is a relatively simply process. But it’s important to remember that this isn’t the only option available to you. Instead, your career could take almost any direction. One path that you could pursue is motor trading. Here are a few basics that you might want to get to know if you intend to head into this field!

Make Sure You Are Insured

When you take to the roads in a personal vehicle, you are required to be insured on the vehicle by law. This doesn’t change when you are driving multiple vehicles that you intend to sell. You will need to drive every vehicle that you sell at some point or another. You will have to test drive vehicles that you intend to buy, you will have to move purchased vehicles from the place that you have picked them up from to your own storage facilities, and you may have to drive potential customers around in the vehicle if it is a first car that they are intending to buy and they haven’t yet passed their test. But bear in mind that you need specialist insurance as a motor trader. You should use a specialist provider like One Sure Insurance. This will cover you for everything that you need. Also make sure that any employees you take on who may need to drive vehicles are insured too!

Start Buying Cars

Once you’re insured, you’re ready to go and it’s time to start looking out for cars to buy. You need to ensure that any car you do purchase is in good shape, or can at least repair and fix up the car for a low price that will still allow you to make a profit on its sale.

Notify Your Local Council

Many motor traders start out selling cars from the comfort of their own home. If this is the case, you may need to notify your local council. This will allow them to prepare for an increased number of vehicles being parked on the road that may not have otherwise been there.

Apply for Trade Plates

When you are a trader, you can apply for trade licence plates. These are essentially mobile tax discs which mean you don’t have to tax and register every vehicle that passes through your hands.

These are just a few steps that you can take to become an independent motor trader. If you feel reluctant when it comes to throwing yourself in the deep end, you can always dabble in motor trading around your full time position and slowly reduce your hours as your own business starts taking off!

Leave a Comment