seen a car and it ,along with lots of others say "margin" in the description.
what does this mean?
also are most auction cars sold without tax on them and if so how do most people get them home?
Chat Forum
[closed]
car auctions- what does "margin" in the desriction mean?
-
Posted 2 years ago #
-
nudge
Posted 2 years ago # -
From a friend in the biz:
Only applies to Trade buyers. They pay VAT on the sale price if it's qualifying or his gross profit (i.e. margin) if it's not.
Posted 2 years ago # -
Many people are traders so have access to 'trade plates' which are taxed, not the vehicle. You've probably seen them, as they are in red. you could trailer them home or just risk it! I've had a few cars from auctions and driven home! If you make sure its insured first oviously! Normally if you were to be stopped you would just have to backdate the tax to the previous month so no real hardship as you would be likely to get a better deal on the car. Dont forget that there is a auction fee (% of purchace price) you need to take into account when bidding.
Posted 2 years ago # -
You might end up having to pay the road tax back to when the car was last taxed (happened to me once) even if you did not own it then. Plus the automatic systems being used today (ANPR etc) give you no leway and this direct from the DirectGov web site
"You could face an automatic penalty of £80 as well as a minimum fine of £1000. Your vehicle could be clamped, impounded or even crushed."
Posted 2 years ago # -
I think it's when they run out of gear lube the put margin
IGMC
Posted 2 years ago # -
You can normally leave the car at the auction house for at least 24 (sometimes 72) hours without any charge which should give you time to get an insurance cert. Then pick the car up walk/drive to nearest post office and tax it straight away.
Posted 2 years ago # -
[quoteYou might end up having to pay the road tax back to when the car was last taxed (happened to me once) even if you did not own it then. Plus the automatic systems being used today (ANPR etc) give you no leway and this direct from the DirectGov web site
"You could face an automatic penalty of £80 as well as a minimum fine of £1000. Your vehicle could be clamped, impounded or even crushed."[/quote]
Even if the car is on a trailer - cover the number plate so that it is not picked up. Happened to a friend -had to pay
Posted 2 years ago # -
As I understood it, if you have applied online for car tax then you now have 5days (IIRC) leeway. This was only introduced recently, i think I read about it on a newspaper's website.
The only problem is that the tax disc would automatically be sent to the registered keeper's address - and you won't have registered it to yourself at that point...Posted 2 years ago # -
if your a non trade buyer at auction the V5 is sent off in your name
and address ,they give you the V5C/2 .you can use this to tax the car at the Post Office with your insurance. you only get given the V5 if your a trade buyer.Posted 2 years ago #
Topic Closed
This topic has been closed to new replies.
