my missus and i are starting to buy crash damaged/stolen recovered/broken down cars to fix up and sell on. how do we go about "setting up" so to speak i mean how are we able to drive the cars to the mot etc without insurance, and how can we tax the vehicles without them being insured i mean i would like to do this properly and not get points for driving un insured and un taxed! is there something to do with trade plates have you got any info or any websites?
Whadup *****? :beer: Long time no see. I've had a couple of thse.
Look up motor insurers in the yellow pages, and several will do "trade policies". You might be restricted because of your age however. That will let you do all the things you mention.
Hi mate, im interested in doing something similar. Do you think theres decent money in it? I was told that resale value of an accident damage repaired vehicle is affected by around 30-40% so i didnt persue it.
depends what you're doing. If it's new cars then yeah, older cars (like a Cav Turbo for example ) probably won't be registered, just sold as damaged, or cars that are sold with blown engines etc can be good if you can fix them yourself.
I do that now, and about to go next level and go nearly full time.
i dont use trader policy atm just my insurance and works, plus i got use of trade plates, but that will change once i find a decent beavertail as atm im using towing dolly,
personally i dont bother taxing the cars as i doesnt really affect resale that much, 12months MOT make a big difference though. I've found buying a car with under 3months MOT on it then getting full ticket and spending almost no money on the car gets you a good return.
To keep them out of you name you need to fill in the yellow section of the V5.
Also remember that its the seller problem to sort out V5's now so if they havnt got it, dont worry as you wont get any fines if you leave it untaxed on the road, and when you come to resell, just pay the £19 to get a new one. Most people wont touch cars with no V5 now so they are worthless making bigger profit margin.
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