Just needing some advice or personal opinions on this please. I am currently a student, and work only 1 day out of the week therefore I want to earn a little more cash on the side. I was basically wondering if buying and selling cars from an auctions is a good idea, even if it's just a £100/200 profit. Also, if I did so, I would only buy cars that I know very well of, both mechanically and their worth (e.g. VW Golf/Polo with low mileage under £1,500) . I've purchased a car in the past from an auction and sold it around 10/11 months later with a decent profit. Perhaps I got lucky? Anyway, just wanted to see if anyone else does this or their advice on this, Pros/cons,
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- Thread Starter
- 12-02-2016 18:47
- 15-02-2016 22:24
Do you have any mechanics / car maintenance skills?
Are you comfortable doing a service yourself? oil/oil filter/fuel filter/air filter/coolant check/ etc
- 17-02-2016 12:18
You would need insurance to drive any car (which cant be obtained under the age of 25) or a way to transport them home (can be expensive) Similarly. After you sell a few cars you would be required to get a trader licence because you'd be concidered a car dealer. it all adds up to a lot and isnt as cheap as you might originally think. Also people are less likely to buy a car that they know has been damaged and repaired.