MAKE MONEY AS USED CAR PRICES CRASH! *Full Process*
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- čas přidán 2. 12. 2023
- Today we head over to British Car Auctions (BCA) Manchester to pick up this low mileage Mitsubishi colt! Used cars prices have massively dropped over the last few months, demand has fallen, interest rates are high, cost of living crisis and we now go into the Christmas period which is known to be quiet for car dealers... How does this all impact the sub £5000 market? Well profit is still there to be made in my opinion... Now is a good time to buy the budget stuff, scrap prices are low meaning these cars are cheaper to buy, and as we discover in today's video, I end up more than doubling my total investment! Hope you enjoy!
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Good video as always. One small suggestion that would cost very little, that I do when selling cheap cars. Take the wiper arms off, give them a rub down with 800 grit wet and dry and then a quick couple of coats of matt black paint. Costs very little and takes your eye away from rusty wiper arms.
Brilliant and inspiring as usual! I live in Farnham too :)
Hi, just wondering what you do about warranty, ive never heard you mention it when doing your costs etc....
Great video and thank you for sharing the costs involved. Such an interesting and insightful video
3:22 I would always recommend you check the oil properly before driving it and definitely when you got to drive 200 miles, I always have 1L oil just in case and easy enough to carry in a backpack 🎒 as always bro 😎 good video
Thank you for the insight - keep
Them coming bro. Really enjoy watching your videos . Bless brother
I appreciate that!
Make money on any car, just drive it down to the South West Devon and Cornwall and its value has doubled.
There is a shortage of cars for sale down there because when traded in all the auctions are up country, so cars bleed out of the south west.
People who ship them back make a fortune.
Nice one brother, good watch as always. Sensible piece of business 👍🏼
Thanks mate
Hello mate! im very interested in that kind of content and potentially im planning to start that kind of business... but just one thing im still need to know its about insurance to bring the car back from the auction to my house. I don't haven`t much knowledge about this but I would like to know if you use trade insurance or applied for a trade plate... and also if I have motor trade insurance do I still need a trade plate to collect the cars?
Thanks in advance
I love your videos
Would be great to get some insight on the above question^
Love the vids! I’ve just started trading cars too how do you do the spread sheet stock book ? And do you give invoices to customers?
Yes I give invoices & receipts to customers. I use an excel sheet for logging stock info.
Smashing it! These cheap cars are bread and butter! I’ve only used bca a few times tend to by off traders as I get to test drive the car and still get some really good margins. I feel all the profit is in the buying, thanks for the video!
Thanks! 100% it’s all in the buying
How do you go about buying from traders? Is it main dealers you buy from?
Hi mate, sorry what do you mean buy off traders? Would you mind sharing how that works? Cheers
@@hassan150 basically being in trade groups and a lot of traders will retail a car but in the meantime offer it to other traders. The trader makes less profit on the car but profit is profit. You have to be an authorised trader in order to be in the trade groups though
Fantastic profit from that car.
I enjoy your videos .
Keep going 💪
Thanks, glad you’re enjoying it!
Hi mate, great vid to watch! Would you mind sharing the requirements to attend and watch a BCA car auction for people looking to get an idea for how much cars are going for in the current market?
I believe you just need trade insurance to set up an account with BCA, but it has been a long since I set mine up! They should have a form on the site which will have all the details!
Manchester from teading you ate crazy 😂😂
Surprised you didnt get a hamerite and spray the wipers quick
Hi do you only do lower end price cars if so good idea way things are cost living crisis regards
Yes that’s the market I mostly focus on.
Hi. I would like to buy and sell the odd car from my driveway at home, I would be selling as private not a trader, is there any way I can buy from BCA if I’m not a registered company?
Hi Ashley, check on the website I think you can be a sole trader but you need trade insurance to make an account (I think)
Do you have trade breakdown cover if god forbid you break down? Please elaborate on this point?
No I do not, I would call my recovery guy. But long term I will probably have my own truck to have cars collected.
Don’t you get a lot of warranty claims selling these cheap old cars ?
Not many, but it happens.. However if the buying and prep is not done right then yes I probably would have many.
@@BuySellCarsTV FairPlay mate I tried a few cheap ones on bca with clean report & wish I never did lol to many issues lost money on 3 broke even on 1
Around £650
No reserve gotta be 350 -450 mark
You paid around 300 for it. I say this from a logical point of view from economical, stand, point. It probably wouldn't make much sense if paid more than 450. But I'll still believe I'd only pay 300
Did you pay £700?
Not a bad guess!
id say you paid 630 around there including fees
Good guess! £556
450
£550
£360
Not bad, £375 before fees etc!