The world of the motor trader seems like a murky and inaccessible industry to the outsider, but having dealt with new motor trade start-ups for several decades now, we can help put your mind at ease.
For those contemplating getting into the motor trade, it seems like a big step to take but what it really boils down to is A) your passion for cars and bikes, and B) A willingness to take a bit of risk in buying cars to sell on (hopefully at a profit!).
Firstly you may decide to specialise in a particular area of the motor trade, this can be simply buying and selling vehicles, but could equally be more specialist within that, say the buying of vehicles to restore them to their former glory before they are sold. We certainly see a number of budding mechanics in the form of apprentices and those who have been in the industry for some time working for a garage full time who wish to tinker with cars both theirs and friends, in their spare time.
Not only is this a lucrative way of making some extra cash on the side, it also puts the skills to use in a venture where they alone reap the reward.
One of the major cost factors in starting up in the motor trade is the price of a motor trade insurance policy. Again there are several factors that can work to your advantage. As we offer a part timer motor trade policy which essentially allows you to continue on your primary occupation, whilst having the benefit of a normal motor trade policy running in the background, to enable you to trade. Motor trade insurance policies can be more affordable than you think. If you consider that the average private car policy runs into several hundreds of pounds for every vehicle you own, the moment there are more than two vehicles, whether that be a car, van or bike, then a motor trade policy starts to become very affordable.
It is worth remembering that you can place your permanently owned and every day vehicles including your business vehicles under the motor trade insurance policy. Furthermore you can include family members, and partners or casual employees on the policy.
We do not, like other insurers, judge you on the number of vehicles you turn over every year, indeed some of our policyholders have very quiet years and then ramp up the next and vice versa.
The very best way to see if a motor trade policy may be suitable for you is to discuss it with one of our experienced brokers.
We have several offices throughout the country and our largest team is centred in Romford, they can be reached on 01708 678 400. They look forward to your call. Alternatively you can reach them on firstname.lastname@example.org
The Clegg Gifford motor trade team have been serving the motor trade industry for 50 years.
For businesspeople just setting up in the motor trade, or those who just want to consolidate all of their business activities under one easy to understand policy, home fleet insurance is becoming a popular option.
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