If you are thinking that getting a dealer license to buy one car is smart, you are waaaay off base.
The time and money involved to get a license will far exceed the savings you would get on one car. Otherwise every neighborhood would have 4-5 dealers in them.
You need a surety bond
Dealer insurance
place of business
sign
dedicated land-line phone number
Then you need to pay the DMV fees, and THEN you get your dealer license.
I have held a dealer license for several years. To keep a small lot (10-20 cars per month) afloat, my fixed annual costs are around $70,000 this year.
So unless he is buying and selling a large number of cars, its just not worth it
You need a business license to be an automobile dealer. Look up the details of obtaining a license to sell used car at the Secretary of State website for the state you live in. Under Business Licenses.
In most cases it will cost more than you are willing to spend just to get a deal on a used car. If you want to buy a car at auction, look for a public auction.
Comments
If you are thinking that getting a dealer license to buy one car is smart, you are waaaay off base.
The time and money involved to get a license will far exceed the savings you would get on one car. Otherwise every neighborhood would have 4-5 dealers in them.
You need a surety bond
Dealer insurance
place of business
sign
dedicated land-line phone number
Then you need to pay the DMV fees, and THEN you get your dealer license.
I have held a dealer license for several years. To keep a small lot (10-20 cars per month) afloat, my fixed annual costs are around $70,000 this year.
So unless he is buying and selling a large number of cars, its just not worth it
You need a business license to be an automobile dealer. Look up the details of obtaining a license to sell used car at the Secretary of State website for the state you live in. Under Business Licenses.
In most cases it will cost more than you are willing to spend just to get a deal on a used car. If you want to buy a car at auction, look for a public auction.
Obtain a car lot with sign, land phone.
Obtain garage liability insurance $2500-3000 per year.
Buy bond & licenses. $350-1500, they will want proof of the above
Then Register at auctions and you are good to go.
Hint, after you buy a car at auction, don't ask "how much down".