How to flip cars UK | FULL PROCESS

Рет қаралды 22,479

Күн бұрын

Welcome to the @Cars 'N' Stuff channel where we're starting off our KZfaq journey to try and showcase how we buy and sell cars.
In this video, we're showing how we made just over £1,000 by making the car more presentable and doing a few things to it.
On this occasion, we've won a 2008 Vauxhall Corsa 1.3 Diesel with 66k miles. We've purchased it for around £930 including fees from BCA (British Car Auctions) and other bits and bobs which eventually came to £1,044.
Now, until we arrive, we don't know what shape it's in (pictures from BCA aren't the best) so I always go expecting the worse.
However, to my surprise, it's in pretty good condition and it drove like a dream! It just needed a good polish, the bonnet replacing due to poor paint, new wheel trims and new number plates.
After posting it for sale, at £2,250, it was soon snapped up and we did a deal at £2,150. So that equates to just over £1,000 in total profit - not bad for a weekends' work!
We buy and sell cars on a part time basis so feel free to follow our journey and like, comment your thoughts (and tips) and feel free to subscribe!
(We're also very camera shy but I'm hoping to film us doing a few things and providing advice on how to buy and sell cars in the near future).
Links of products used for this video:
Titan Pressure washer: www.screwfix.com/p/titan-ttb1...
Poor Boys Bucket: www.amazon.co.uk/POORBOYS-Gal...
Turtle Wax shampoo: amzn.to/3XFTJeX
Wash mitts: amzn.to/3uag6vx
VonHaus Dual Action Polishing Machine: amzn.to/3EMBOur
SPTA Polishing Pads: amzn.to/3XKjL0L
Meguiars Ultimate Compound, Polish and Liquid Wax set: amzn.to/3ATX6Fl
1500 grit, 2000 grit and 2500 grit sandpaper (wet and dry) for headlights - various options on Amazon but we bought: amzn.to/3FcYjKq
Large purple microfibre cloths: amzn.to/3inwOF6
Meguiars Tyre Endurance Gel: amzn.to/3OPoN7V
Meguiars Back to Black trim restorer: amzn.to/3H0EqYx
Turtle Wax Window Cleaner: amzn.to/3EPRixB
Meguiars Detailing Spray: amzn.to/3uaNJ05
All of the above have been purchased a while back and had offers at the time - just use what's best for you!
Channel: / @carsnstuff2666

Пікірлер: 118

@linford545 2 ай бұрын

Great video, I like u factor the hours u input❤

@carsnstuffuk Ай бұрын

Thanks, appreciate it. Just shows if it's worth doing or not!

@sham1204 11 ай бұрын

Beautiful video, thank you

@carsnstuffuk 11 ай бұрын

You're welcome 👍

@SA-si5yq Жыл бұрын

Good video..keep the videos coming 👍

@carsnstuffuk Жыл бұрын

Thanks - really appreciate it 👍

@Blackfire-Five Жыл бұрын

Thank for the videos, very informative about the process and what you did to get it up to scratch, making it all sound less daunting. You mentioned near the end things like tax, public liability insurance, trade plates etc., I assume that’s if you are a full blown business owner rather than a private seller? Or would you have to take all of that into consideration if you were selling off your own driveway?

@carsnstuffuk Жыл бұрын

Thanks mate, much appreciated! If you're only selling the odd one or 2 from your driveway then you don't need to worry. It's just incase you decide to take it more seriously

@Blackfire-Five Жыл бұрын

@@carsnstuffuk ah great thanks. Like the idea of it to make the quick quid here and there. Don’t want to go to deep into repairing/replacing parts, just do things that I can do fairly quickly like tidy/clean up and replace the odd minor thing here and there. Watched a few videos now, very informative!

@carsnstuffuk Жыл бұрын

@Blackfire Five that's the easiest way really and as long as you're happy making a quick buck and don't take it too seriously then it can be quite fun too!

@Blackfire-Five Жыл бұрын

@@carsnstuffuk do you find that sometimes a simple scrub up inside and out is enough to up the price?

@carsnstuffuk Жыл бұрын

@Blackfire Five sometimes definitely yea! Especially when you've scrubbed the seats and polished the paintwork - it shows you've put the effort in and shows the cars been looked after

@jonnydangerous Жыл бұрын

Great video bud, looking to get into the trade as cars are a passion. Subbed to your channel! 👍

@carsnstuffuk Жыл бұрын

Cheers mate. If you need any pointers then just let me know 👍

@jonnydangerous Жыл бұрын

@@carsnstuffuk I do actually, as a beginner would you say it's okay just to go for it with trade insurance and start buying from likes of bca or would you say to try source from other places or auctions open to public and get a feel for it first? Also is it better to begin as sole trader or a Ltd company? Thanks bud

@carsnstuffuk Жыл бұрын

@jonnydangerous I think just to start out, buy and sell a few cars but put the v5 in your name and tax them and insure them on your own policy. Otherwise if you find its not for you, then you can't transfer and re transfer your personal no claims to a trade policy. I'd also buy privately first off fb etc and learn to negotiate, look around vehicles and test drive them before taking out trade insurance. Then once you're happy, delve in to the world of car trading 👍

@jonnydangerous Жыл бұрын

@@carsnstuffuk ah yeah that makes sense and is good advice. Been checking fb here and there but struggling to find a good buy. The ones that do seem to have potential don't seem legit as the message doesn't get delivered/no reply. You're right though, I'll keep trying my luck and also try find public auctions etc need to flip a couple cars before going the full hog. Thanks for your help bud, keep the vids rolling and wish you every success with your hustle 👍

@carsnstuffuk Жыл бұрын

@jonnydangerous you'll come across one- maybe try ebay too. Find a car going for auction and ask how much they'd like before the auction ends to try and grab a bargain. Happy for you to contact for advice further down the line 👍

@Gbzinho35 Жыл бұрын

very good video, thanks!

@carsnstuffuk Жыл бұрын

Appreciate your support 🙏

@davidflanagan675 Жыл бұрын

Great video mate thank you. Was just wondering how do you deal with the logbook? Let's say I buy from a private seller and want to resell the car, do I have to register myself as the owner? Just not sure how that works.

@carsnstuffuk Жыл бұрын

Thanks mate. When you buy from a private seller, you need to fill out the yellow part of the V5 (trade slip) so it doesn't add another owner to the logbook. You can also do this online too. You then keep the original v5

@instinctz2k10 Жыл бұрын

@@carsnstuffuk Hey, thanks for the info above. Do you fill the yellow section if you are not a trader? If I want to flip cars casually without adding an owner? Thanks

@carsnstuffuk Жыл бұрын

@Ameer Malik you can only fill out the trade section if you have trade insurance. If you're casually selling the odd car here and there, then the only way around it would be to fill out the V5 as a new owner and transfer the car in to your name

@christhompson1767 Жыл бұрын

Great video - but quick question - what do you do for insurance? Motor trader policy? If so, how much is that in the UK?

@carsnstuffuk Жыл бұрын

Hi Chris, in the UK in order to buy and sell cars on a more permanent basis then you have to take out a trade insurance policy. It starts off around £1500 - £2k for your first year but decreases over time. I usually pay round £900 a year now. Hope that helps 👍

@fahmed95 8 ай бұрын

@@carsnstuffukdo you recommend any brokers

@carsnstuffuk 8 ай бұрын

@fahmed95 I used a company called Quote zone but there's a few more out there 👍

@theweridohassan Жыл бұрын

I’m thinking of starting. I want to compete with you

@tzsenpai5950 10 ай бұрын

Love the video its very transparent and informative. However I was just wondering, how do you know that you're buying at a good price and will be able to sell at a good price?

@carsnstuffuk 10 ай бұрын

Thanks for the comment makr, much appreciated 👍 Just research really - compare to other cars with similar age and mileage. I mainly use autotrader as a guideline

@tzsenpai5950 10 ай бұрын

@@carsnstuffuk Legend, thanks for the reply!

@carsnstuffuk 10 ай бұрын

@@tzsenpai5950 you're more than welcome 👍

@DeadlyAquarious Жыл бұрын

New sub here. Brilliantly compiled informative video. All the best for the future. 👍👍 Do you think BCA is better than copart? i am thinking of trying it copart. One more thing roughly whats the range of trade insurance which we will need for BCA and cost of trade plates. Many Thanks

@carsnstuffuk Жыл бұрын

Thanks mate much appreciated 👍. I've never used Copart so can't really comment. I don't tend to deal in insurance write off vehicles and that's mainly what copart specialise in. You'll need to speak with an insurance company as they'll tailor a quote to suit your needs. Trade plates are around £120 a year. I hope that helps 👍

@DeadlyAquarious Жыл бұрын

@@carsnstuffuk Thanks alot once again

@carsnstuffuk Жыл бұрын

@@DeadlyAquarious You're welcome 👍

@flippingcarsrepairs Жыл бұрын

Don't buy from copart absolute crap that's why there's so many channels about to document the repairs as they are very hard to shift after as so many bodgers 👍👍👍

@gaudam514 Жыл бұрын

Hi there. Love your videos. Im looking to flip cars myself but it's difficult getting trade insurance as a 19 year olds? any advice?

@carsnstuffuk Жыл бұрын

Thanks for the feedback mate! I'm pretty sure most places only take 25 year olds and upwards but the Sony way you'd find out is by contacting different insurance companies. Hope that helps!

@bantsszone 6 ай бұрын

Did you find anything mate I’m 19 too

@CarbonImpulse Жыл бұрын

How did you make a BCA account if it is not open to general public?

@carsnstuffuk Жыл бұрын

You need to take out a trade insurance policy in order to be eligible. And it's not open to the public unfortunately. However, there are plenty of car auctions across the UK that are

@hamzar6677 Ай бұрын

If you fill in the trade section when selling a car do you have to offer warranty by law?

@carsnstuffuk Ай бұрын

Not a warranty by law, but the customer can return the car if not fit for purpose. Always best to provide a warranty though as the warranty company will sort at their end

@mrfreshsam-hashirya-drives1248 Жыл бұрын

You got any tips on what cars to flip that are cheap and reliable thanks

@carsnstuffuk Жыл бұрын

Try and focus on cars that have been well maintained and serviced regardless of the manufacturer as you could potentially be missing out on some bargains!

@arctic7555 Жыл бұрын

How long it take u to find a car like this on bca and how good/rare of a deal is this on bca

@carsnstuffuk Жыл бұрын

I search every day and put in a maximum bid on every car I save. I could save up to 30 cars in a day and might not win any. It just all depends on what other traders are bidding too. So to answer your question, it doesn't take very long and not rare of a deal either really

@alejandropalazonurtubi3520 Жыл бұрын

@@carsnstuffuk Hi man, mind if I ask you, what if you win the 30 cars, I know very unlike but lets say you win 10 cars but you dont have the money what would do in this situation? Tx for your time.

@carsnstuffuk Жыл бұрын

If I've won the first one or two, then I can reduce all my other bids to £100 if I can't afford any more. You can't remove bids but you can reduce them. Good question though 👍

@alejandropalazonurtubi3520 Жыл бұрын

@Cars 'N' Stuff What about the cost of the VAT?

@carsnstuffuk Жыл бұрын

I've spoken with HMRC regarding this as I wasn't sure how it worked at first as I thought it was around 16%. However, HMRC informed me that you pay VAT when you meet the £85,000 threshold each year.

@hamzar6677 Ай бұрын

how does it work when receiving the v5 do you have to wait 2 weeks to sell it.

@carsnstuffuk Ай бұрын

If you're a trader then you complete the trade section online so the original v5 is still valid. So in essence, you can buy and sell a car on the same day if you so wish

@hamzar6677 Ай бұрын

@@carsnstuffukthanks

@carsnstuffuk Ай бұрын

@@hamzar6677 no worries 👍

@F2ABARGAINS Жыл бұрын

Quick question - As a trader Can you tax cars individually rather than getting trade plates?

@carsnstuffuk Жыл бұрын

It depends. If you've got a private driveway or private space you can park cars then you just need to get trade plates. If you're parking on the road then they need to be taxed

@F2ABARGAINS Жыл бұрын

@@carsnstuffuk Cheers 👍🏼

@carsnstuffuk 10 ай бұрын

@keithwright6355?

@Websterny123 7 ай бұрын

no mechanical issues checks? theirs going to be plenty shtboxes on the road soon

@carsnstuffuk 6 ай бұрын

That's something I forgot to add to the video to be honest. I take all cars to my local garage for a health check

@SamH-bn8vo 9 күн бұрын

Hi when picking up the car You need temporary insurance but as an 18 year old what should I do as I cant get it

@carsnstuffuk 9 күн бұрын

@SamH-bn8vo Hi mate, I started dabbling in this when I was 25 so I'm not sure what you can do in your situation, sorry. Might be best to make a few enquiries and if you're looking at buying and selling cars long term then I'd recommend looking at taking out a trade insurance policy 👍

@SamH-bn8vo 7 күн бұрын

@@carsnstuffuk thank you so much I will look into it :)

@carsnstuffuk 7 күн бұрын

@@SamH-bn8vo no worries and good luck 👍

@jiggybeats9935 Жыл бұрын

when you buy a new car do you need to get insurance in order to drive it back?

@carsnstuffuk Жыл бұрын

If you're buying your first flip or 2, or if you're buying for yourself then yea. Otherwise if you're buying and selling more regularly then you need to take out a trade insurance policy

@jiggybeats9935 Жыл бұрын

@@carsnstuffuk brill. Thanks so much 🙏

@carsnstuffuk Жыл бұрын

@@jiggybeats9935 you're welcome 👍

@alitoto5452 5 ай бұрын

Hi, please try to give me any possible advice to my situation. I am 18 years old, I have had my license for 3 months. I have a 2014 1.0 Ford Focus, I pay 4000 for insurance! I have good knowledge in cars, I have been following this industry for a long time, I want to start doing this business, buying cars from an auction and selling it for profit. I managed to get a BCA account, and now I can access it and bid on cars. My problem is, if I bid on a car and manage to win it, I am not sure what will happen next? I will need to travel to that location and collect the car but after that how can I drive the car back home? I heard about trader insurance and trader plates, but for my situation is there any other possible way that I can collect the car and drive it home without getting trader insurance? I don't think I can get trader insurance because of my age and I don't have a lot of money, I want to start buying cheap cars (

@carsnstuffuk 5 ай бұрын

Well done for getting in the trade at such an early age! Most trade insurance companies won't provide insurance unless you're 25 or older so your best bet would be to get temporary or day cover insurance 👍

@alitoto5452 5 ай бұрын

Do you think that would work? I mean like they will give me temp insurance for my age? if that works then I am done with 1 out of 2 problems. 2nd problem is tax, I would need trader plates but I wouldn't be bale to get it without trader insurance, so how can I go about that? Also would you say BCA is good for me as a starter? would you say its the best to buy cheap cars and flip them? is BCA your main place where you buy cars?@@carsnstuffuk

@jamesvivian835 6 ай бұрын

What’s it the cutaways? Had to turn off

@carsnstuffuk 6 ай бұрын

That's my rubbish editing skills, sorry!

@theweridohassan Жыл бұрын

How long have you been doing this

@carsnstuffuk Жыл бұрын

For around 2 years now

@flippingcarsrepairs Жыл бұрын

🤣🤣🤣 I'm joining the club been doing it years 😉

@jaberchowdhury1094 Жыл бұрын

Hi, great content. Can I do this from home without becoming a trader?

@jaberchowdhury1094 Жыл бұрын

Hi Mark, please 🙏 help. How do I get started with less overhead as possible? How do I go about getting trade plates and what costs I'm I looking at trade insurance? Your help will be greatly appreciated

@carsnstuffuk Жыл бұрын

Hi Jaber, to get started you'll need a budget and do research on paryicuakt cars you want to buy and sell. Just look at the market (auto trader etc) and set your budget accordingly.

@carsnstuffuk Жыл бұрын

And trade insurance depends on type of vehicles, max value of vehicles and location etc. Price will go down over time too - similar to standard insurance

@jaberchowdhury1094 Жыл бұрын

@@carsnstuffuk I have a budget, what what do I do? Do I make a company name? How do I get trade plates? What is the correct process?

@carsnstuffuk Жыл бұрын

@Jaber Chowdhury no need to make a company as you can be self employed. Just tell HMRC at the end of every tax year how much you've earned. Trade plates can be applied for on the DVLA website

@Days1485 Жыл бұрын

Where’s Birminham ?

@carsnstuffuk Жыл бұрын

In between Brstol and Mnchester

@stevewhelan2069 8 ай бұрын

I'd you insure it yo get it home?

@carsnstuffuk 8 ай бұрын

I have trade insurance so covers me for any car but you can take out day insurance if you're just starting off 👍

@stevewhelan2069 8 ай бұрын

@@carsnstuffuk what sort of price for trade, and one dsy insurance? And best place. Regsrds.

@carsnstuffuk 8 ай бұрын

@stevewhelan2069 First year was around £1500 but I pay around £1k now. I use a different broker every year (using a comparison website for trade insurance). Daybisurance is usually around £100 a day. But that all depends on your location, number of vehicles and value of vehicles etc. So the quote will be tailored for you

@stevewhelan2069 8 ай бұрын

@@carsnstuffuk thank you for sll your help, very great full.

@carsnstuffuk 8 ай бұрын

@@stevewhelan2069 you're more than welcome 👍

@OfficialLegend Ай бұрын

and road tax + insurance?

@carsnstuffuk Ай бұрын

For a trader, you won't pay tax if you keep it off road and insurance is different for everyone so quite difficult to include that in costs. However, if you sell a few cars and make decent profit, it should more than cover the cost of your annual insurance.

@Black.Sabbath 9 ай бұрын

00:45

@carsnstuffuk 9 ай бұрын

What caught your eye at 45 secs? 👀

@Jack-dd3sf Жыл бұрын

Sad that you’ve put the price to 2 grand it’s a 2007 car it’s worth 500 just greedy

@carsnstuffuk Жыл бұрын

Thanks for the comment Jack. Every car is worth what someone is willing to pay for it. In my opinion, a well looked after low mileage diesel Corsa is fairly priced at £2k

@gabrielcomiskey8195 Жыл бұрын

Business is business

@a.t.g000 Жыл бұрын

That’s why you’re poor.

@Black.Sabbath 9 ай бұрын

@@a.t.g000 That's why you're poo.

@Websterny123 7 ай бұрын

no wonder why people don't trust car sellers, basically you've bought from auction gave it a polish and added a grand on it. be better guys.

@carsnstuffuk 7 ай бұрын

Trust me. There'll not all as easy as this. Very risky as you never know what you're going to get. And in relation to trust, we offer a warranty and have an exceptional reputation. Appreciate the comment though 👍

@CL4SSiCS 6 ай бұрын

@carsnstuffuk yes, also not everyone would want to fix up a car.

@carsnstuffuk 6 ай бұрын

@CL4SSiCS exactly this. The risk is all with me as sometimes there's more issues with the car that's not listed which need to be rectified before putting it up for sale