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Starting up advice (Read 397 times)
GJM
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Starting up advice
Apr 20th, 2010 at 11:41pm
 
Having been made redundant, I am looking to go into car sales, albeit quite small scale to see where it leads.

I did attempt to do this some years ago but to be honest dealing with the council was a nightmare....and this time round it seems to be similar.

However I intend to try and make it happen this time.

Does anyone have a starting up guide that is better than the business gateway one I seen, that said you will need a huge lot and 250k blah blah useless, thanks for nothing.

Insurance..any companies better than others for type of cover.

Warranties, again any recommendations.

With regards to records what exactly do you need to keep to be 100% by the book in case of being investigated / audited

Is it possible to become a LCB from your home or do you need to have out and out business premises.

How does clearing finance work exactly should the issue ever arise.

Where is best to buy invoices, stock books from etc.

How does clearing finance work exactly should the issue ever arise.

Do you need to provide a sales invoice showing cost of warranty, sure the garage I worked at had a sheet they showed customer and the sheet with their price, mind you that was few years back.

I believe you also should make available a checklist for the car and should go to buyer, however I have asked people who have recently bought from garages and they have never been given such a checklist.

With the VAT, if you buy a qualifying car, say an ex lease for 9k and sell for 10k, do you claim the vat portion back on the 9k meaning you are owe the vat man vat on the 10k sale...can this come back to bite you in any shape or form, guess if your touching qualifying stuff, you need to be striving to being VAT reg or you would be paying the VAT man but getting no returns.

Do you need a licence from the council in all regions or is it just certain ones

Oh and payment, who is best for card payments if needed and do all business account have charges for cash/cheques in/out

Thanks in advanc
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deano_young
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Re: Starting up advice
Reply #1 - May 5th, 2010 at 9:46pm
 
Hi mate,

I use HSBC for my credit card purchases. They are robbers but were the easiest to get on board. They charge about 30p for a debit card/switch/electron payment or 2.6% for credit cards. I asked why it was high and they said it was because i was a new start up. Apparently you can get a better deal after a year.

Try Think Insurance - www.think-ins.co.uk - for motor trade insurance. They looked after me and even give you £25 for every referral! Helps to keep your renewal down.

Hope this little bit can help you.
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