Why Should I Sell Different Types Of Vehicles As A Motor Trader?
Diversification is the key answer to this question. Selling different types of vehicles as a motor trader can have many positive effects.
One of the obvious positive effects of selling multiple types of automotive vehicles is that customers have a varied choice when visiting your premises, whether that be at your home or whether that is a designated business premises, both of which can be insured under a Motor Trade insurance policy.
Attract Different Types of Customers
For example a customer may come to you to view a motorbike to use as their summer vehicle, but then may be persuaded by the sight of a cool and sleek convertible car you have in stock as well. If you didn’t sell motorcycles or even cars then you would hypothetically have lost a sale.
You may even get recommendations from customers too. For example, say a customer recently bought a hatchback from you, and a family member is in the market for a moped, they may recommend you because of your service, even though their family member is looking to buy a moped and not a hatchback.
However, the statistics for new motorcycle registrations don’t contain good news for sellers of motorcycles. The figures which take into account new registrations of motorbikes, mopeds such as scooters, and tricycles say there is -14.1% change in new motorcycle registrations in May 2017 in comparison with May 2016. While this isn’t great news for anyone selling brand new motorcycles, it might not be bad news if you are in the trade of selling used vehicles.
Thinking of Selling Used Motorcycles?
It could mean that motorists who are looking to buy a motorcycle, whether that’s a sport motorbike, touring motorbike or a moped, could be wanting to purchase a used motorcycle – and the facts and figures could back this up. The amount of motorcycles in use, in the United Kingdom of Great Britain and Northern Ireland, according to the Department for Transport, has actually risen. In 2012 it was 1.22 million in Great Britain and in 2015 it was 1.25 million in the UK – a rise of 30,000, which means an extra 10,000 motorcycles in use each year on average, and if the pattern continued it could be 1.27 million in 2017.
What Motor Trade Insurance Policy Would I Need To Sell Motorcycles?
There are many types of insurance policies available for people in the motor trade such as Valeters insurance – which is aimed at people who are valeting cars or other vehicles.
To sell motorcycles as a motor trader you would need the same type of insurance policy that you would have if you were just selling other vehicles such as cars; that would simply be a Vehicle Sales insurance policy. However when you get your insurance policy you will probably need to tell the Motor Trade insurer what type of vehicles you sell as part of your vehicle selling motor trade business.
Your Motor Trade insurance broker may also want additional information about the vehicles you will be selling. Information such as where the vehicles will be kept, who will be driving the vehicles, whether you want cover for potential customers to test drive, and what is the value of the vehicles too.
As a motor trader it’s important to have insurance but also important to keep up with current news in the trade which can be done by reading a Motor Trade monthly round up– which would help keep you up to date.