The UK has 34.5 million vehicles registered and that number is increasing all the time as more people buy cars. Selling cars is a profitable business venture so long as you have the right motivation and people skills to sell vehicles to potential customers. While selling new cars is one avenue for car sales, a common form of business is selling used cars.The following steps will show you how to start a used car sales business.
- Skill level:
Register your business with Her Majesty's Revenue and Customs and complete all legal paperwork. Starting a used car sales business can be daunting. The simplest way to start is by contacting your local enterprise centre or development agency. They can offer you free assistance in filling out all the paperwork, creating a business plan and finding funding and employees.
Register as a wholesale or vehicle dealer if you're business is based in Scotland. You don't need a licence to sell cars in the rest of the UK, but you will need a Second Hand Motor Vehicle Dealer's Licence if you're based in Scotland.
Find a vacant site on which you can sell the used cars. You will need to acquire a lot with sufficient space. You can't sell used cars from home without business planning permission from the local council.
Buy used cars to sell. Go to a wholesale car auction to fill up your inventory. These auctions have all kinds of used cars that you can choose from. Since you are not allowed to test drive the used cars during the auction, make sure you and your mechanic thoroughly inspect them. Check for the vehicle identification number (VIN) and its condition. Additionally, you should bring a laptop to check the car's ownership history so you can assess the value of the car.
Hire sales staff and a car mechanic. A qualified mechanic can help you inspect the cars you buy for any defects and problems. Always take your mechanic with you to the places you want to buy used cars. An experienced salesperson can help you sell your used cars.
Gather up pricing quotes for used cars from a website that gives prices for used cars depending on its year, make and model as well as the condition and vehicle equipment.
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