BeerMonkey Posted February 8, 2006 Share Posted February 8, 2006 Me and my family for the past few years have brought our cars from the car auction near us. So 2 weeks ago thought id pop up there to see how much sports cars that i like go for in there for when i come to get a new one. A lovely X reg Golf 1.8 GTI was amoung the cars going that day i talked to a family friend that worked there and he had let me sit in it and said theres no probs with it...full mot...70,000 miles (high for X reg) so anyway i walked over to the bidding area to see how much it is gunna go for. The bidding started at a lowly 3k and slowly going up so thought fuk it ill bid i got the money *raises hand* and after a few bids i won it (4,800). But nows the good thing i couldnt bear to sell my lovely Polo and the insurance was alot higher than i thought it would be on the golf (twice as much) so decided to sell it for.....8,500 and last week i sold it....£3,500!! profit in a week!! gunna do this more often easy money i dont even have to work...gunna pop up there on monday to see wats there Link to comment Share on other sites More sharing options...
MunKy Posted February 8, 2006 Share Posted February 8, 2006 Lucky git. If I had the money to buy a car in the first place I'd probably do the same thing. Link to comment Share on other sites More sharing options...
Blackfox Posted February 8, 2006 Share Posted February 8, 2006 But doesnt it have the potential to go tits up and you could lose a lot of money? Link to comment Share on other sites More sharing options...
Meik Posted February 8, 2006 Share Posted February 8, 2006 Too much hassle, i'd rather stay home and watch Cash in the Attic. Link to comment Share on other sites More sharing options...
BeerMonkey Posted February 8, 2006 Author Share Posted February 8, 2006 *DEAL OR NO DEAL* Link to comment Share on other sites More sharing options...
Mr_Odwin Posted February 9, 2006 Share Posted February 9, 2006 But doesnt it have the potential to go tits up and you could lose a lot of money? Nope, it's a perfect scheme with no flaws. Link to comment Share on other sites More sharing options...
Mundi Posted February 9, 2006 Share Posted February 9, 2006 I know a better scheme, send me your credit card number :p Link to comment Share on other sites More sharing options...
MoogleViper Posted February 9, 2006 Share Posted February 9, 2006 I know a better scheme, send me your credit card number :p I've got a better one you see well what you do you see you send me all your credit card numbers and if one of them's lucky you win a prize. Link to comment Share on other sites More sharing options...
Ten10 Posted February 10, 2006 Share Posted February 10, 2006 Any cars ending with GTI or some other crazy name addon costs you more in insurance. The companies think its a licence to drive fast and crash up yor car. Link to comment Share on other sites More sharing options...
Lammie Posted February 12, 2006 Share Posted February 12, 2006 I think someone beat you to this idea.....some guy calling himself a used car salesperson.... Link to comment Share on other sites More sharing options...
Oli1983uk Posted February 13, 2006 Share Posted February 13, 2006 i know loads of people who have done this and it does go tits up from time to time, the good thing here is you have a friend working for the auction house who can give u some tips about the cars. My mate Bought an Astra 52 plate from the auctions for £1300 a few months back, he crahsed it last week and the insurance company has wrote it off and paided him £4300 for the car. Link to comment Share on other sites More sharing options...
mike-zim Posted February 13, 2006 Share Posted February 13, 2006 you have to be very carefull. if this does take off you might have the tax man at yur door asking for a cheque. you would be considered self employed. so look into it before you buy & sell too many. Link to comment Share on other sites More sharing options...
BeerMonkey Posted February 13, 2006 Author Share Posted February 13, 2006 ah good point mike-zim ill do that if i end up doing it more this year cheers Link to comment Share on other sites More sharing options...
elniro Posted February 13, 2006 Share Posted February 13, 2006 Yea it can be risky, a car u buy for a certain amount of money and u can only sell it off for much lower. So it can be risky, otherwise nice one on that profit u made and wtf sort of reply is that from the guy above me Link to comment Share on other sites More sharing options...
Fierce_LiNk Posted February 13, 2006 Share Posted February 13, 2006 and wtf sort of reply is that from the guy above me Don't worry. His idiotic reply has been removed. It's a good idea in theory, but there are many flaws or drawbacks. Most of which have been mentioned in this thread. Other than that, i hope it works out splendid for you. Link to comment Share on other sites More sharing options...
Bowser57 Posted February 13, 2006 Share Posted February 13, 2006 Any cars ending with GTI or some other crazy name addon costs you more in insurance. The companies think its a licence to drive fast and crash up yor car. Well it's also that statistically that car is far more likely to end up wrapped around a tree, or be taken by some fool. Link to comment Share on other sites More sharing options...
Strider Posted February 13, 2006 Share Posted February 13, 2006 Id like to do somthing like this...usually it only gets as far as talking about it and never doing it. Link to comment Share on other sites More sharing options...
Recommended Posts