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Author limited period insurance
koolkorsa
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Registered: 15th Jun 03
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24th Mar 05 at 20:22   View User's Profile U2U Member Reply With Quote
I'm thinking of starting buying cars at auction and selling them on. But the main problem as I see it is insurance and tax. How would I transport the cars from auction to my house legally? Basically I need to find companies that offer short period insurance - 1 day or 1 week cover? In the past you could take out a years insurance then cancel within 2 weeks and get all your money back - but the laws changed stopping this. Anyone got any suggestions, cheers.
liamC
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Registered: 28th Feb 04
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24th Mar 05 at 20:23   View User's Profile U2U Member Reply With Quote
Trailer?
Twiggy
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Registered: 15th Oct 04
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24th Mar 05 at 20:23   View User's Profile U2U Member Reply With Quote
Most either have Trade insure so as long as ya on the companys policy ya can drive anything.... Or some dont bother....

If you cxl they charge you 1st and last mths premium as a deposit...
koolkorsa
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Registered: 15th Jun 03
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24th Mar 05 at 20:25   View User's Profile U2U Member Reply With Quote
Was thinking of trailer - what sort of price would a second hand one cost me?

Trade insurance - anyone got some company names? Cheers.
Twiggy
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Registered: 15th Oct 04
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24th Mar 05 at 20:28   View User's Profile U2U Member Reply With Quote
I wud buy a LTD comp name all registerd etc from ebay etc and then put it in ya dads name (Cheapr??) Then ya laffin... charge ya mates to be on it etc.... Just a thought!
koolkorsa
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Registered: 15th Jun 03
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24th Mar 05 at 20:28   View User's Profile U2U Member Reply With Quote
Put what in my dads name?
liamC
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Registered: 28th Feb 04
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24th Mar 05 at 20:31   View User's Profile U2U Member Reply With Quote
Think he's saying the insurance would be cheaper on the trailer if you put it in your dads name.
Twiggy
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Registered: 15th Oct 04
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24th Mar 05 at 20:33   View User's Profile U2U Member Reply With Quote
Noooooooooooooope! I ment put the "trade insurance" in ya dads name as with normal insurance it sprob cheaper......

[Edited on 24-03-2005 by REDSPORT]
Ian
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Registered: 28th Aug 99
Location: Liverpool
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24th Mar 05 at 20:37   View Garage View User's Profile U2U Member Reply With Quote
To get traders insurance you need to be a trader, which means you need to have a proper business going, which includes paying tax on your earnings. You then also have to make sure the cars aren't dogs as there's more consumer protecton offered to people buying from traders.
koolkorsa
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Registered: 15th Jun 03
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24th Mar 05 at 20:42   View User's Profile U2U Member Reply With Quote
Yer I would be looking at doing it seriously, paying tax etc. But I'm thinking that a trade insurance policy could be overly expensive and considerably erode any profit margins.
pauls corsa
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Registered: 26th Feb 05
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24th Mar 05 at 20:57   View User's Profile U2U Member Reply With Quote
how old r u as most companys insure u third party on any car if ur over 25 with ur own car insurance or change to cis as they let u drive any car on third party as well no mater of ur age
jsc
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Registered: 7th Jan 05
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24th Mar 05 at 21:55   View User's Profile U2U Member Reply With Quote
trade insurance isnt really that expensive if you are not planning on having alot of cars in your possession at any1 time best thing to do is ask an insurer
loo_goblin
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Registered: 14th Jul 04
Location: Horsham, West Sussex
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24th Mar 05 at 21:56   View User's Profile U2U Member Reply With Quote
trade plates, i got them

very useful

 
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