I was curious as to whether or not I needed it, even though I am barely doing much. For over a year I have been doing some rather minor buying and selling of cars. I buy one car at a low price, put the work and parts in it that make sense and then I sell it. If I can not find a car where I can turn a profit then I watch football instead. I am reading about this on motortrade.blog.co.uk because it seems as though some people think that I am required to have motor trade insurance. Obviously I would prefer not to bother with it if I had the choice in the matter. I have only sold 8 vehicles so far this year, six cars, a pick up truck and a van. It does not seem as though they should be worried about that.
They list the people who need motor trade insurance in this way Service, Repair and MOT garages, Vehicle Body Builders, Commercial Vehicle Repairers, Part Time Traders or Mechanics Working From Home, Mobile Mechanics, Body Shops, Vehicle Breakdown & Recovery Agents and Vehicle Collection & Delivery Agents. Obviously I fall in that one category and this is definitely part time for me. I wonder if I have to pay the same rate as a guy who owns a shop that makes millions in a year. That seems as though it would be pretty ridiculous and I probably could not afford those sorts of rates. In fact I would have to pass this along to the people who buy cars from me. It would be one more thing to figure in when you calculate how to turn a profit on working on a car or a truck. It obviously can come out of my pocket.