Go Niche – Motor Traders Look to Buck the Market

Motor Traders Bible has been made aware of how smart Motor Traders are looking at bucking the market, getting profitable by focusing on Niche areas of the market. Here’s how:

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Have you ever thought of selling more than just cars? What about horseboxes? What about specialist vehicles? With the market in a slump at the moment you need to be looking for an edge, so why not provide vehicles that are a little different. What’s making this more attractive is that insurance for these specialist vehicles, like horseboxes, is that these are not going up like other insurance. OK so someone isn’t going to go out and buy a horsebox or a bulldozer because the insurance is cheap, however the smart motor trader will use this cheap insurance as a great bargaining point. Certainly having cheap insurance certainly wont work against you, the motor trader, for selling.

Let us know how you get on at Motor Traders Bible.

Until next time, Be Lucky!

Dave

this post was sponsored by  Lionheart Insurance Services Ltd providers of cheap motor trade insurance.

+DavidJWilkes

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Renault Reveal the new Clio Renaultsport 200

The Raider name is back!

Motor Trader’s Bible lift the bonnet on Renault and have got all excited over the new Clio Renaultsport 200

Well over a decade all of the hot blood Motor Traders were boasting the Raider name, which was emblazoned upon their Renault 5 Turbo. Now it makes a comeback in the newest version of the Clio Renaultsport 200.

Last week Renault unveiled the Clio Renaultsport 200 Raider, which is due to go on sale at the beginning of November, with a limited run of 50 models available.

So what can Motor Traders be expecting? Not surprisingly there will be additional equipment included above the standard Renaultsport version and will be only available in two colours of either Stealth Grey or Diavolo Red.

So what else can Motor Traders see is different? Well it has a gloss black finish roof, a sporty rear spoiler, rear diffuser, F1-style door mirrors and front blade. Furthermore it has 18” ‘Interlagos’ alloy wheels with Bridgestone RE 050A tyres, Recaro seats and a no-cost choice of either a Carminat TomTom Live satellite navigation or the latest Renaultsport Monitor which is an onboard performance telemetry system.

Pricing details and more information is due out later in the month. Be sure Motor Traders Bible will bring you news as it comes.

Until next time, Be Lucky!

Dave

This post for Motor Traders was sponsored by Lionheart Insurance Services Ltd, providers of cost effective, fit for purpose Motor Trade Insurance.

+DavidJWilkes

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On line strategy – Non Specific Web Sites

Motor Traders Bible takes you through the maze of selling strategy … part 3, on line strategy with Non Specific Web Sites

In order to sell more vehicles, the smart Motor Trader will look for cost effective places to advertise their Motor Vehicles. Fortunately there are plenty of places where adverts for Motor vehicles can be advertised for Free or at low cost. Below, we have listed some places you can consider, which area a good start for Motor Traders to try, but don’t make this as your only place to advertise.

Motor Trader places to consider advertise their Motor vehicles:

- Gumtree

- Freeindex

- Freeads

- Friday-ads

- Ad-trader

 

All are excellent places to place your motor vehicle for sales. Give them a try as they are all FREE unless you request the enhanced services. Don’t forget the enhanced services will ensure your vehicle(s) will stand out of the crowd and helping you sell your vehicle.

 

Until next time, Be Lucky!

Dave

 

Sponsored by Lionheart Insurance, providers of Cheap Motor Trade Insurance, Commercial Insurance and other supporting insurance products.

+DavidJWilkes

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Motor Trade Selling Strategy Part 2

This is Part 2 of 4 helping Motor Traders plan their selling strategy to get more exposure and therefore turn their Motor Trade business in to a successful Motor Trade business.

Part 1 covered Motor Trade Web Site, this part we will cover On line adverts Specialists

An On line advert specialist is a web site which focuses on your market.

Classic examples of these specialists is AutoTrader, Exchange and Mart as well as sites like AutoWeb, The Car Exchange .

The benefits of using sites like this, is that they are well geared for vehicle sales which should mean that it is quick and easy to use, saving you time. Furthermore, motor trade sales sites will have traffic looking especially for cars to buy. As a result if you can have your vehicle(s) advertised on here you are likely to get someone who is serious at purchasing.

The negative part is that your prices need to be keen as the likelihood that others on here will price competitively so if you want yours being considered then it need to look attractive. Furthermore, if it is a very popular car your advert may well get drowned out by all of its competition. To avoid this later part you can typically pay a little more and get your ad near the top of the listing and for it to be highlighted.

The next posting will provide you with ideas on additional places to consider for advertising your for sale vehicles.

Until next time, Be Lucky!

Dave

This post was sponsored by Lionheart Insurance, providers of cost effective Motor Trade Insurance.

+DavidJWilkes

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Motor Trade Selling Strategy

As part of running a successful Motor Trade business, Motor Traders Bible reviews Websites for Motor Traders

As part of your armoury for selling vehicles, the smart motor trader now needs to be on line. This means you will need to advertise on the web. There are various approaches you can have to tackle this. Furthermore it is suggested you utilise more than one process to get your vehicles found and therefore sold. Here are a few approaches you can consider as part of your motor trade on line strategy:

- Motor Trade Web Site

- On line adverts Specialists

- On line adverts General

- Physical

So to get things rolling, Motor Trade Web Sites:

- Motor Trade Web Site
There are plenty of ways you can set this, using off the shelf products, domain hosts, next door’s kid or a professional company*. Basically, you get what you pay for with these, both in the level of help and then where it appears. The basic steps you need to follow for this are:
i) Register your motor trade domain (this is your motor trade website’s address). There are loads of companies who can do this. Search using google for a  domain provider. “.co.uk” & “.net” sites are the cheapest and certainly fit for purpose. Try to pick a name relevant to your motor trade business, it will be easier for your customers to find it!
ii) Build your motor trade website. Where possible build it so you can include your motor vehicles allowing you to change your motor trade stock on line at little or no cost. Some website providers allow you to change your own content, this is often known as Content Management. Using Content Management will keep your cost down.
iii) Find a host, then upload your site. When undertaking step (i) you can elect for your domain registry site to “host” your Motor Trade site. Hosting is basically a place where your website is kept. If you have a very big site or if your site is being built by someone else they will offer to host your Motor Trade website. Look at the costs and your technical knowledge and work out what is best for you.
iv) SEO – Search Engine Optimisation. For those of you feeling brave, SEO is something you need to consider as it allows your Motor Trade site to be found over your competition.  Google provide some excellent advice on how to SEO your Motor Trade website, which can be found at http://www.google.com/support/webmasters/bin/answer.py?answer=35291

So how do I go about designing my Motor Trade Website?

First look at your competition, what’s on their site? What parts do you find good (which you will look to draw ideas from) and which parts need to be improved (which you’ll change). Also look at non Motor Trade websites, which you visit regularly. What is it that makes them easy use?
Once you’ve formed some initial ideas, you need to make sure you have the basic Motor Trade website framework. You need to ensure you have:

a) Home Page (this is where people will first come to)
b) Contact us (phone numbers, email address, location of your pitch/ vehicles)
c) Index (what pages are on the motor trade site etc)

Now think what sort of vehicle information you are going to store on your Motor Trade website. If you can include photos of your vehicles, but again, think about the background of the car. Plain walls, or your show room (if you can have your contact number in view) will help as the prospect can see the vehicle and your associated business.
Presentation is key as people will make their minds up when looking at an image.

Next time we will look at on line adverts using specific and general web sites

Until then, Be Lucky!

Dave

Sponsored by Lionheart Insurance providers of fit for purpose, affordable Motor Trade Insurance.

+DavidJWilkes

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Can Car Valets have Motor Trade Insurance?

Motor Trader’s Bible explores the use of a Motor Trade Insurance policy

Today we look at Can Car Valets have Motor Trade Insurance?

Simple answer is Yes!

The reason also is simple, Car Valets will need to potentially move many different types of vehicles in pursuit of valeting vehicles. As a result the car valet will need insurance. What you will need to check is whether you can drive these other vehicles Socially, you see a discount can be applied to cover just the business aspect of driving other vehicles, which will mean you will not be covered for social use. In this instance, personal vehicles (recorded on the MID) can often be covered by your insurance policy however again please check with your insurance broker.

[Just a point to note, we refer to Car Valet this will cover anyone cleaning or polishing vehicles (commercial or private) for a financial reward]

So if you are a full time or part time car valet you can take out Motor Trade Insurance, just check what additional cover this Motor Trade Insurance will provide.

Until next time, Be Lucky!

 

Dave

This post was sponsored by Lionheart Insurance, specialists in Motor Trade Insurance. Want a cheap quote, give them a call on 0121 380 0930 or click here

 

+DavidJWilkes

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Commercial Specialist Vehicles Insurance

Do you have a specialist vehicle and need it insured?

Our sponsors, Lionheart Insurance, can provide insurance for specialist commercial vehicles. These specialist vehicles include the following:

Specialist vehicles
Angledozers
Backhoe loader
Bulldozer
bullgrazer
Compressors
Concreting pump
Cranes - self-propelled
Dellivery Trucks
Dumpers
Dustcarts
Electric trolleys or tractors
Excavators
Fire brigade vehicles (other than private cars)
Footpath rollers
Footpath sweepers
Fork-lift trucks
Grab
Grader
Gritting machines (self-propelled) and their trailers
Gully emptiers
Lawn mowers, pedestrian controlled & self-propelled
Levellers
Mechanical navvies, shovels & grabs
Mobile plant
refuse vehicles
Rippers
Road finishing machines
Road Rollers
Road Sweepers
Scoop
Scrapers
Sheeps-foot tamping rollers
Shovel
Site clearing and levelling plant
Snow ploughs - self-propelled
Spraying Plant
Tar dryer
Tar Mixer
Tar Sprayers - self-propelled
Telescopic loader
Three Wheeled Carriers (not for general road use)
Tower Wagons
Trail Builders
Tree Dozers
Trench Excavator
Trencher
Trolleys and goods carrying tractors
Water Carts
Welding plant
So why not call them on 0800 917 5227 or 0121 380 0930 see how 
cheap it can be to insure your specialist vehicle
Until Next Time, Be Lucky
Dave

This Post was sponsored by Lionheart Insurance, providers of 
Specialist Commercial Vehicle insurance. Why not give them a call 
on 0121 380 0930 or click here for a great deal 
on your Commercial Vehicle Insurance

+DavidJWilkes

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Why have Motor Trade Insurance?

Motor Trade Insurance is a highly flexible approach to insuring your vehicles, ensuring that in a fast moving market you remain legal. But is it for everyone? What does it allow me, the policy holder or my named driver(s) do?

Ok first things first, Motor Trade Insurance is a policy to cover people who are connected with the Motor Industry. There is an assumption that you need to insure a selection of vehicles, which will regularly change.
It does not cover drivers using the insurance policy to cover other people’s vehicles in SDP, the insurance covers driving other people’s vehicles in the pursuit of Motor Trade purposes.
This means, that if you regularly buy & sell ( motor trade ), mechanic or valet cars you qualify for a motor trade insurance policy

So as a motor trader can I drive any car on my motor trade insurance policy?
This is where you need to be careful.
A Motor trade insurance policy allows vehicles to be put under the policy holder’s charge. Any vehicle purchased by the Motor Trader must be put on to the MID, via the broker and or insurance company. The Motor Trader must get this put on as soon as possible, notifying the insurance company within 48 hours.
At the end of the day, it is in the Motor Trader‘s best interest as the Police, armed with VNC database will pull drivers who have inadequate insurance. For the legitimate Motor Trader this is a major inconvenience, having to produce sufficient paperwork.

A mechanic also needs to remain vigilant, ensuring that they can show they have a reason for being in a car that is not owned by them and/ or not on the MID. To keep your insurance If it is during the working day, it is fair to understand that vehicles need to be picked up, taken to the MOT centre, road tested in the event of a mechanical change etc. If, however, it is outside standard work hours (e.g. 11pm) it becomes difficult to prove you have been working on a vehicle and you are testing it. This activity could void your insurance policy.

The same will go for car valeting. During standard working hours vehicles being driven are clear and therefore, your insurance would be valid, however, late at night, being used for Social purposes, it is likely to draw suspicion and your  insurance company may void your insurance policy.

Named Drivers

Named Drivers are people who have been specifically identified  on the Motor Trade Insurance policy. These people have certain restrictions which need to be adhered to, to ensure they do not void their Motor Trade Insurance policy. These restrictions will be affected by their age, the type of vehicles they wish to drive under the Motor Trade Insurance policy or major driving convictions. Also check that the named driver has Social and Domestic cover for them on the Motor Trade Insurance
Please note, that named drivers who wish to drive vehicles under the policy holder’s Motor Trade Insurance policy, need to ensure that the vehicle is owned by the policy holder.

Need more information on the above? Please give your friendly neighbourhood broker, Lionheart Insurance a call and they will be happy to help you figure out the best policy be it a Motor Trade Insurance policy or not.

Until next time, Be Lucky!

Dave

Sponsored by Lionheart Insurance 
Call them on 0121 380 0930 or click here for a great Motor Trade Insurance quote

+DavidJWilkes

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Motor Trade vs Fleet vs Family Fleet, which should I choose?

Motor Trader’s Bible tackles more difficult insurance questions:

“I have a number of vehicles, and several drivers which insurance policy should I have: Motor Trade Insurance Policy; Fleet Insurance Policy or a Family Fleet Insurance Policy?”

Simple, one that fits your circumstances best!

Ask yourself:

1. Will the vehicles I have change much over the coming 12 months?
If NO, then you’re looking at a Fleet Insurance type policy
If YES, and you are selling approx 1 vehicle or more in a month, then you are looking at a Motor Trader Insurance Policy
If YES but less than approx 1 vehicle per month please speak to your broker

2. Who owns the vehicles, where are they registered?
If owned/ registered to a business (i.e. business premises/ corporate name) then you should be considering  a Fleet Insurance Policy
If owned/ registered at one home (i.e. Family) then Family Fleet Insurance Policy

Unsure about the above then speak to your friendly neighbourhood broker.

So what is a Motor Trade Insurance Policy?

Further to our previous post, a Motor Trade Insurance Policy  is aimed at the Motor Trade market be it you buy & sell new & used vehicles (Full time or part time Motor Trader) , are a vehicle mechanic or you valet cars/ vehicles. The idea is that your stock* is changing on a regular basis.
*stock refers to vehicles owned by Motor Traders or vehicles you are working on mechanically/ cosmetically.

So what is a Fleet Insurance Policy?

A Fleet Insurance Policy is a policy which will cover a minimum of 3 vehicles  and a number of named drivers or drivers meeting certain circumstances. Named driver policies will be cheaper than ‘any driver’ policies because of the wild card element for Fleet Insurance Policies. Though it is important to point out that ‘any driver’ will still need to meet criteria, typically they will need to be employed by the company and/ or be over an agreed age. Furthermore, depending on the criteria it is possible that the age of the driver or the state of their licence (convictions etc) will have different (read larger) excesses.

So what is a Family Fleet Insurance Policy?

Family Fleet Insurance policies are aimed at Families who have multiple vehicles and multiple drivers. We’ll go in to this in a lot more detail in another article, but for now, the insurance companies are looking for a minimum of 2 vehicles and 2 drivers to qualify. Now I have deliberately used the word vehicles rather than cars, because family fleet insurance policies will cover Commercial Vehicles (Vans, up to 3.5 tonnes) , motorbikes as well as cars (up to 7 seats). Typically, each driver will gain their own NCB which is a big boost to the younger driver.

Until next time, Be Lucky!

Dave

This post was sponsored by Lionheart Insurance, specialist providers of Motor Trade Insurance. Why not call then on 0121 380 0930 or click here for a cheap Motor Trade Insurance quote?

 

+DavidJWilkes

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Motor Traders Bible – What group is my car?

Motor Traders Bible

Following on from our post yesterday, what group is my car?

We all know that the use of knowledge brings power. So knowing information about your stock can help the good old patter in selling the vehicle. In these days of rising insurance knowing what insurance group a specific car is in can be a great angle on selling a car.

There are plenty of really useful sites out there which can help Motor Traders understand both whether they are covered by their Motor Trade Insurance and for the customer for their insurance purposes. Below are two that do exactly what they say on the tin:

Parkers:  http://www.parkers.co.uk/insurance

Thatchams: http://www.thatcham.org/abigrouprating/

Great places for information.

So for the smaller grouped ones, you’ll be able to use this in your sales pitch!

Until next time, Be Lucky!

Dave

 

 

 

Sponsored by Lionheart Insurance

 

 

 

 

+DavidJWilkes

 

 

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Getting Motor Trade Insurance for Younger Drivers

Getting Motor Trader Insurance for younger drivers is becoming more and more difficult!

But then again, if you are a young driver and you’ve been recently shopping round for your Motor Trade Insurance then I guess you already knew that.

But why? Why should a young driver be penalised in this way? All you are trying to do is earn an honest living buying and selling cars or commercial vehicles. Or you have recently set up a car valet service. Why should a young entrepreneur be penalised like this?

Unfortunately, some unscrupulous young drivers have abused the Motor Trade Insurance policies to try to get cheap motor insurance, had accidents & claims and as such the cost of this has to be carried somewhere.  This has been prevalent for young drivers who have wanted to be insured on Subaru’s, Mitz Evos and even Porsches. As a result honest motor traders have suffered.

So who can currently get covered with Motor Trader Insurance? Well Over 25 year old have typically a reasonable selection of insurance companies who have stayed in the market, however, certain post codes are now becoming more and more difficult to insure.
For under 25 year old it is very difficult and subsequently very expensive to get Motor Trade Insurance. If you have existing Motor Trade NCB (No Claims Bonus) or have deep pockets there are one or two companies that will quote assuming you are not in one of the blacklisted postcodes. These will be subject to restrictions, typically no turbos, vehicles up to a limited cc and BHP. Please note this is not a guarantee that under a 25 year old can get a Motor Trade Policy!

Want someone to talk through your Motor Trade Insurance  requirements? Why not give Lionheart Insurance  a call on 0121 380 0930 or click here to access their website.

Until next time, Be Lucky!

Dave

This blog was sponsored by Lionheart Insurance, Motor Trade Insurance specialists. Lionheart have access to insurance companies to provide you with a wide range of policies covering the vast majority of risks.

 

+DavidJWilkes

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Motor Traders Bible to Who Can Drive a Minibus?

Motor Traders Bible to Who Can Drive a Minibus?

Ok Motor Traders, can you legally drive a minibus?
Does your Motor Trader Insurance cover you for driving a minibus?

OK Motor Trade, let’s tackle the first part can you legally drive a minibus?
Well this depends on your driving license or should I say when you got your driving license! Here is an extract from the DVLA’s own site about driving minibuses:
“Driving licence held before 1 January 1997
If you had entitlement to drive cars before 1 January 1997 you can drive a minibus provided it has a maximum of 17 seats including the driver’s seat and is not being used for hire or reward. Your minibus entitlement will remain valid in the United Kingdom until your licence is next renewed.”
So, assuming you are NOT planning to drive it for Hire and Reward (i.e. a taxi, public or private cab) and you’ve had Full UK license before 1st January 1997 then yes your driving license allows you to drive a minibus up to 17 seats.

Regarding your Motor Trade Insurance policy for cover for driving a minibus, this really does depend on your insurer. Please check your paperwork for your Motor Trade Insurance issued by your insurance company or by your insurance broker.
Again, typically, if you are using the vehicle in the pursuit of Motor Trade business (buying/ Selling, valet, mechanic) and it is less than 3.5 tonnes then you are likely to be covered however, I can not stress enough you have to check the terms of your Motor Trade Insurance.
I suggest that you give your broker a call to confirm you are covered, however, they are going to want to know for what purpose you need the use of the minibus.

Be lucky!

Dave

+DavidJWilkes

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Can Car Valets have Motor Trade Insurance?

Motor Trader’s bible lifts the lid on “Can Car Valets have Motor Trade Insurance?”

The simple answer is yes, Car Valets can have Motor Trade Insurance because car valets need to be able to drive a selection of customers’ vehicles. Therefore, car valets need to take out motor trade insurance.

Motor Trade Insurance Indemnity

The important part about car valets taking out motor trade insurance is indemnity. Indemnity is the value of the individual vehicles that are to be driven. Therefore when discussing your motor trade insurance with your insurance broker discuss Split Indemnity. You need to ensure that your motor trade insurance indemnity covers your own personal vehicles. The other side of the motor trade insurance indemnity needs to be set to a level which cover your customers’ vehicles.

Level’s of Indemnity on your Motor Trade Insurance

Indemnity on Motor Trade Insurance is set a regular stepped level, typically starting at £2,500; £5,000 increasing in £2,500 steps up to £15,000. From then on your indemnity in your Motor Trade Insurance will increase in £5,000 steps, so the next level would be £20,000.

For a car valet, using split indemnity, the indemnity level for their clients’ vehicles is oftern between £20,000 and £30,000. Naturally, as you increase your indemnity levels on your motor trade insurance it pushes up the cost of your Motor Trade Insurance premium. However, the benefit is that you can take on more expensive vehicles which provides you with a richer clientèle!

Be lucky!

Dave

 

Sponsored by Lionheart Insurance Services Ltd, specialists in Motor Trade Insurance.

+DavidJWilkes

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Motor Trade Insurance an Option for Young Drivers?

Is Motor Trade Insurance an option for young drivers who want to be able to insure themselves cheaply?

 

The simple answer is No. I know it must be tempting to want to drive a bigger engine car when you are a young driver and heck, the cost of private car insurance, especially for young drivers, seems only to go up so being creative on what you do to drive down your car insurance, but you will get found out!

Insurance companies have got wise to young drivers taking out Motor Trade Insurance instead of Private Car Insurance and now will ask for proof that they are indeed dealing in vehicles. The proof needed to validate their Motor Trade Insurance will often be receipts, checking which vehicles go on and off the MID and of course how many, or if you are a Mechanic and you are using Motor Trade Insurance then you will be able to provide copies of invoices to your customers which can be shown for an audit.

Those trying to use Motor Trade Insurance that should not have it, could have their Motor Trade Insurance Policy cancelled, lose their deposit/ heavily reduced return premium if paid in full, and have problems gaining Private Car Insurance. With the government clamping down now on all cars needing valid insurance this could quickly present you with a problem.

Already under 25s are finding it very difficult to obtain quotes for Motor Trade Insurance which is a reflection of the Insurance Companies clamping down. There are some Insurance Companies who have pulled out of the Insurance market altogether, which means that you get to be less picky for the prices you get.

Lionheart Insurance would be a worthwhile call for a quote, especially for anyone 25 and over. In special circumstances younger drivers may be  able to gain a quote. Give them a call on 0800 917 5227

 

Be lucky!

 

‘onest John

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Family Fleet vs Commercial Fleet

Ok so this is a slight divergence from the normal Motor Trader’s Insurance information but we hear on the grapevine that some households are looking up Family Fleet and want to know what its all about. So in order to help all here’s a brief outline of how family fleet works (best).

Family Fleet, sometimes know homefleet, household fleet etc is where a household a number of vehicles and a number of drivers. Now the exact acceptable ratios varies but when writing (June 2011) insurance companies are basically looking for more vehicles than people. The idea being that if you have 3 vehicles and 3 drivers then what’s stopping you getting 3 Private Car policies? Apart from a bit of paperwork, what’s in it for the insurer? It doesn’t reduce their risk, because all 3 vehicles could be out on the road at the same time.
Where they are looking to turn in an advantage, therefore, for you, the policy holder to save money, is where there are more vehicles than there are drivers, meaning that a vehicle or more will be off the road (because you can only drive one vehicle at one time!).

So how could it work for you? You have two senior drivers (mom and dad), two young drivers (the kids), you have the family saloon, the family run around, an old vw golf and a vw beetle. There’s also a van and motorbike in the household. This would be a good mix. OK so the young drivers will be limited to specific vehicle(s) based around their experience and the vehicle’s engine size.

Commercial Fleet and commercial fleet insurance is completely different. You buy, and therefore insure, the vehicles you need. Yes there are often restrictions, especially for the plank that pranged the van last year, or the lad who’s still wet behind the ears , with under 25′s and certainly under 21′s are difficult/ expensive/ impossible (delete as appropriate) to insure but that’s fine.

Still confused? Give Lionheart Insurance a call for more details on 0800 917 5227 or 0121 380 0930

Be lucky

‘onest John

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MID and how it affects you

Hello Motor Traders and welcome to another posting from Motor Traders Bible.

So you have saved loads of money buying your Motor Trade Insurance policy. You have got your stock and you’re selling cars like they are going out of fashion, so you pop along to the auction, pick up a beaut for a song and bring it back to your lot. Unfortunately, on the way home you get your collar felt by the Police. They flag you over and ask you to prove you’re legitimate. You produce your driving license, a copy of your Motor Trade Insurance certificate and the receipt showing it has been bought today. They wave you on. Cool.

So its a couple of days later and that new motor isn’t as clean as you thought it was so you run it down to the local garage which you have a deal with. You get stopped by the police, produce your motor trade insurance certificate and your driving license but the receipt is now with accounts (i.e. your misses). Now the grief starts. They check their database and it says it’s not insured (which is why you were stopped!) you wave your certificate but there’s all explaining to do and if you can’t prove its being driven for Motor Trade purposes it will get impounded and that costs big dollars to get it released.

How can you avoid all of this hassle?  Simple, once you’ve bought the motor phone up your kindly neighbourhood broker, let them know the vehicle make, model, engine size and registration (also if its an import or its been mod’d I’ll explain all of this in another blog). They will capture this information and send it on to the insurance company. The insurance company will then verify your policy supports these vehicle(s) and enter it on to the MID.

So what is the MID? MID stands for Motor Insurance Database. Quoting the Bureau “The MID is a centralised database of motor insurance policy information of all insured UK vehicles.” Basically, all the insurance companies that sell motor car insurance record insurance information in to one big computer, which can be accessed by the Police and other insurance companies. So when the Police are out checking number plates, they compare it to the latest version of this database. As you know, the Police use a clever camera which can read number plates using character recognition (the camera “reads” the photo is takes and can work out the letters and numbers from the photo!).

Also the MID is used by the Post Office & Road Tax website, which makes sure you have insurance (from the MID) and that you have a valid MoT (which is stored on another database).

Now one  last thing to mention, check with your broker before you take out your Motor Trade Insurance policy whether they will charge you an admin fee for putting vehicles on and taking vehicles off the MID, as this could save you a lot of money. Imagine if they charge you a small £5 fee each time you want to put one on or take it off? Well if the average solo Motor Trader turns over 50 vehicles a year (about a car a week) that £5 charge will cost you £250, extra! Sell more cars and it becomes a sizable fee.

I know Lionheart Insurance but make sure yours doesn’t too!

Be lucky!

‘onest John

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Motor Traders Posts – Back in the game

Motor Trader’s Bible readers, thanks for keep visiting and calling whilst we’ve been busy with a lot of work in house, now we’re back in the game.

So we’ll keep our eyes on the latest in the motor trade insurance industry and the latest happenings on the car front, but we need to hear from you!

What parts of Motor Trader’s Bible do you like?

What do you want to hear more about?

There’s a lot of content in this site about who can become a motor trader, where you can get great deals on Motor Trade Insurance, new products etc but what do you want to hear more about?

Comment on this thread, with your email address and we’ll get back to you over the next week or so.

 

Thanks for all of the nice comments you’ve been sending us

Keep trading, keep smiling and be lucky!

‘onest John @ Motor Trader’s Bible.

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Motor Traders Bible Guide to the New Land Rover LRX Concept Car

Motor Traders Bible Guide to the New Land Rover LRX Concept Car

Motor Traders eagerly enquire on the latest concept vehicle to come out of Land Rover.

The LRX is a based around the compact SUV (Sports Utility Vehicle) which boasts a Cross-Coupé look and feel, being the smallest, lightest and most efficient vehicle we have ever produced. This will heavily influence the third new Range Rover which will be in full production in 2011.

Motor Traders were not surprised to find out that Land Rover intends to introduce 2WD  as well as the standard 4WD and is expected to emit less than 130g/km of CO2, opening up the market again for company car drivers. If achieved will make it the lightest, most fuel-efficient Range Rover ever. It times of fuel prices the motor trade agree it is both wise and needed.

At the moment the LRX is purely a concept vehicle however, motor traders bible understands from a source within Land Rover that they intend to create a production version of the LRX, aimed at the 2011 product line up. Being a compact 4×4 Land Rover have cunningly attack the RAV4 end of the market which has been imposing on their market for a while. They fight back with a vehicle aimed at agility, handling and performance. Like the Freelander 2 there will be a three-door version for this Cross-Coupé LRX and no doubt a few technical innovations which will help it stand out from the crowd upon release.

Once the vehicle is on general release we will provide you with an update.

This was sponsored by Lionheart Insurance, providers of Motor Trade Insurance to the Motor Trade Industry. Why not give them a call on 0800 917 5227 and save money on your Motor Trade Insurance.

They also provide cheap van insurance, motorbike insurance, car insurance and commercial insurance. Catch up with them on twitter or www.thesolgroup.co.uk

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Partner Requests

Motor Trade Insurance Partner Requests

Due to big demand we have been requested to publish a page for some of our partners… so here is the first trench:

www.linkmarket.net

http://www.customsigngenie.com/

http://www.autoleague.co.uk/

http://www.patx.org/

http://www.umpirelist.com/

http://www.texaspublicinsuranceadjuster.com/

http://www.umpirebook.com/

http://www.boningroup.com/

http://www.lifeinsurancenetquotes.com/

http://www.justautoinsurancerates.com/

http://www.pe-file.com/

http://www.brownsvilleaccidentlawyer.com/resources.php

http://www.autodetailing.pro/LosAngelesCo/Burbank.html

http://www.austinmobilemechanic.net/resources.php



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Motor Trade Insurance Sales Exec

Motor Trade Insurance Sales Executive required

Following the expansion of Lionheart Insurance over the last year they are now keen to recruit experienced sales executives for their motor trade insurance department.

The current team have all spent time as motor traders as well as having a minimum of 6 years insurance brokering experience. You will need to have a minimum of 2 years experience, be happy working towards a target and working together as a team.

Lionheart will provide support and training where needed to ensure the continuance of high quality customer service, selection of the best fit and value for money insurance policies.

You will be rewarded with a great package and a great working environment as well as excellent career prospects.

Interested? Send you cv to sales@lionheartinsurance.co.uk

Motor Trade Insurance

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