Ricey Posted January 7, 2011 Share Posted January 7, 2011 Buying shedders (cosmetic) at auction for less than a grand, take them home and detail the living sheeeeehite out of them, then bung back in the auction for a profit (selling 1 before buying another). My research tells me fully comp insurance (provided it has this clause) allows you to drive another car 3rd party regarless of it being insurance independantly provided you do not leave the vehicle unattended on a public highway........so that should get it from auction to home and back again fully legal. MOT and Tax are an issue - does anyone know of a LEGAL way around this? I know about the no tax provided MOT booking in loop hole but is there anything less risky (probably wouldn't buy anything without an MOT). I know of a bloke who does this but he's got a taxi firm and therefore access to trader policies and workshops ETC. Or is this just me looking for trouble again..........Its more of a productive hobby and I'm not expecting to make masses from this (I'm prepared for the odd one that'll make a loss) but figure that I like detailing and figure it could be put to better use ........I'm asking for trouble again aren't I? Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted January 7, 2011 Share Posted January 7, 2011 You could make a few quid sure, but one wrong un and you would loose all you made on the last 10 Quote Link to comment Share on other sites More sharing options...
Stew Posted January 7, 2011 Share Posted January 7, 2011 If you had the mechanical skills too to buy something that needed tidied up and an MOT at auction then do the work and sell it privately then you might make money.... I'm not that convinced that a quick polish will net you £100s more on low value vehicles. I think the biggest thing is that sprucing it up makes it far more attractive to buyers so it might maximise sale price on something worth a few k. A shed is always a shed whether it's polished or not. Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted January 7, 2011 Share Posted January 7, 2011 Very true, you can't polish a turd Quote Link to comment Share on other sites More sharing options...
Husky Posted January 7, 2011 Share Posted January 7, 2011 Can you really make money by............. Q: selling the wife A: Yes PS: Ricey, she says stop stealing her car every day! Quote Link to comment Share on other sites More sharing options...
scubapics Posted January 7, 2011 Share Posted January 7, 2011 Very true, you can't polish a turd Agreed. But you can roll it in glitter Quote Link to comment Share on other sites More sharing options...
R35LEE Posted January 7, 2011 Share Posted January 7, 2011 If not taxed you need trade plates but no way around not having a valid MOT Make sure you buy good ones mate and best of luck Quote Link to comment Share on other sites More sharing options...
Ricey Posted January 7, 2011 Author Share Posted January 7, 2011 Well thats what I thought and maybe I'm not getting the full story with this guy because I've a suspicion that with access to a workshop he's probably buying ones without an MOT and getting a cert put on them before going back in.......12 month MOT says to the average 'tard 12 months hassle free driving doesn't it. I'll put it in on my list of doomed ideas to change life; - buy and sell shash cars (interim challenge - learn how to actually maintain and detail a car properly first) - develope a revolutionary website that will change the work (interim challenge - learn how to creat and maintain a website) - buy and sell shares by knowing exactly what your doing (interim challenge - stop spunking money on cars and save up to invest in shares) - brown nose your way up the corporate ladder (interim challenge - lose all self respect, become less intelligent, obtain handy knife for backstabbing) - buy, renovate and sell real estate (interim challenge - dipose of the horrifically depreciated, negative equity ridden property already owned) - ride on the waves of a successful friend by obtaining contracting work that your clearly not qualified to do (interim challenge - overcome the fear of the inevitable discovery of your uselessness and subsequent sacking) Might just sit here and watch the financial world decompose with a smile on my face actually Quote Link to comment Share on other sites More sharing options...
Husky Posted January 7, 2011 Share Posted January 7, 2011 you're list looks good mate, familiar... and good Quote Link to comment Share on other sites More sharing options...
Ricey Posted January 7, 2011 Author Share Posted January 7, 2011 Can you really make money by............. Q: selling the wife A: Yes PS: Ricey, she says stop stealing her car every day! I'm driving it home for her in the ice and snow!!!!!! God you try and do someone a favour!! ...... Huskys talking to my missus!!!!!!! WFT. Get me a vet for an emergency neutering! Quote Link to comment Share on other sites More sharing options...
Husky Posted January 7, 2011 Share Posted January 7, 2011 Can you really make money by............. Q: selling the wife A: Yes PS: Ricey, she says stop stealing her car every day! I'm driving it home for her in the ice and snow!!!!!! God you try and do someone a favour!! ...... Huskys talking to my missus!!!!!!! WFT. Get me a vet for an emergency neutering! MWahahahahaaha Quote Link to comment Share on other sites More sharing options...
James B Posted January 7, 2011 Share Posted January 7, 2011 I know people that do just this and they make very good money although they dont do quite the same thing. They buy cult cars like old M3's, Audi's and then make then very pretty. Apparantly there is quite good demand (and money) for these older, high powered cars restored to good nick. Quote Link to comment Share on other sites More sharing options...
M9O OEY Posted January 7, 2011 Share Posted January 7, 2011 Me and three mates at work have done it for 6months. we buy from the auctions then do a little as possible then sell them privately. We started off with a 100 each weve now got 1200 a trailer and a dolly. Tbh tho there's loads of people doing it and it seems to be getting alot harder to find a bargain Quote Link to comment Share on other sites More sharing options...
sparky370z Posted January 7, 2011 Share Posted January 7, 2011 My brother in law does this. It does work out quite well but his road is like a bloody car garage. The tax man looks very hard at these kind of sellers. He has had a couple of lemons tho. Part and parcel tho. His advice is buy small as they sell well. Quote Link to comment Share on other sites More sharing options...
Ricey Posted January 7, 2011 Author Share Posted January 7, 2011 cheers for the responses guys.......its a bit clearer without the rose tinted specs on. I think I've been watching too much wheeler dealers making it look easy...........lest we forget that I'm the man who; - stripped the head off not 1 but 2 bolts on his pop charger - total install time 3 hours - built a coffee table upside down, - built another coffee tables legs the wrong way round - smashed the parking brake mechanism on a Merc by fitting alloy wheels with wrong size locking nut - stripped the paint off the nut holes on the same alloy wheels whilst mounting them on the car - wires ceiling roses in by taking a 'bit of a guess' with the various live wires - stripped the paint off a petrol cap by using a key to prise it open when frozen. - changed the pads and discs on carla's last 3 cars causing them to literally scream every time she touched the pedal.......copper slip has since been discovered - stripped the thread out of the sump on one of carlas old cars by overtightening the plug........the contents of which then spilled rather messily over the work carpark - Put petrol in his nice new diesel car then proceeded to tear the aftermarket chip box out so Mitsi wouldn't invalidate the warranty.............6 hours labour later and numerous phone calls about being unable to start the car I realised I had basically left the loom in but removed the chip box........which subsequently cut the entire ECU circuit. Mitsi said they didn't actually give a toss about the chip anyway - Changed the thermocouple on the boiler........whole house stinks of gas now.......probably going to die soon. I'm special.......leave me alone Quote Link to comment Share on other sites More sharing options...
Husky Posted January 7, 2011 Share Posted January 7, 2011 AHAHahhahahahahha "probably going to die soon." Quote Link to comment Share on other sites More sharing options...
geoff-r Posted January 7, 2011 Share Posted January 7, 2011 As said start small and go big. Know what's good and what's not. Stick to small engined cars for quick sales as everyone is feeling the pinch with fuel prices, oh and don't get carried away, I did this with a mate when we were 18 and ended up with about 10 cars, we lost track of them and had to park them all over the place, not good! We made a quick buck and left it for the time being. I would like to get back into doing this but don't really fancy doing it on my own. Quote Link to comment Share on other sites More sharing options...
Ricey Posted January 7, 2011 Author Share Posted January 7, 2011 I was thinking of literally doing 1 in 1 out. I've been umming and arrring about shares lately but the money I have to invest is fairly insignificant in the grand scheme and I figured this would be a bit of fun to start with.............without the MOT, Tax and insurance issues I'd do it for deffo. If I got a total dog I'd just scrap the damn thing and put it down to a 'bad investment'. I know a little about cars and utterly bog all about shares no matter how much I kid my self looking at the Halifax Market Watch Centre!! Quote Link to comment Share on other sites More sharing options...
rtbiscuit Posted January 7, 2011 Share Posted January 7, 2011 if you want to learn about shares why not start off on the penny shares market; lots of info around, and only play with a small investment; say less than 100.00. at the end of the day this isn't alot different to gambling. just know your game; and don't play with more than your willing to lose. as for the car buying thing. has potential, but mechanical knowledge is helpful; or even just a friend who is mechanically minded. helps spot lemons and other tell tale signs of a sh1tter. i did love your list of DIY achievements. Quote Link to comment Share on other sites More sharing options...
racinggreen Posted January 7, 2011 Share Posted January 7, 2011 Very true, you can't polish a turd Yep you can I saw it on mythbusters! Quote Link to comment Share on other sites More sharing options...
rothers2901 Posted January 7, 2011 Share Posted January 7, 2011 Very true, you can't polish a turd http://dsc.discovery.com/videos/mythbus ... -turd.html Quote Link to comment Share on other sites More sharing options...
Matt L Posted January 7, 2011 Share Posted January 7, 2011 @ the coffee table building. doesnt the whole 3rd party on your insurance only work on cars you dont own? sure i heard that somewhere. Quote Link to comment Share on other sites More sharing options...
DoogyRev Posted January 7, 2011 Share Posted January 7, 2011 Very true, you can't polish a turd Yep you can I saw it on mythbusters! Well if anyone want to give it a go, let me know and you can pop round and pick up the dog poo Quote Link to comment Share on other sites More sharing options...
spursmaddave Posted January 7, 2011 Share Posted January 7, 2011 Well if anyone want to give it a go, let me know and you can pop round and pick up the dog poo Kind of off topic but how come you never see white dog poo anymore... Quote Link to comment Share on other sites More sharing options...
geoff-r Posted January 7, 2011 Share Posted January 7, 2011 Well if anyone want to give it a go, let me know and you can pop round and pick up the dog poo Kind of off topic but how come you never see white dog poo anymore... Don't you only get that in the summer? Quote Link to comment Share on other sites More sharing options...
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