Dealer license??

[92Rustang]

Does anyone have a used car dealers license? I'm looking into getting one and have a couple of questions about getting around some of rules?

[Mr 5 0]

I don't have a dealer license but a good friend does and it's not easy to get. In my state, inspectors visit your site before granting a dealer license and you have to have a required number of items, including a repair facility and other financial requirements, plus the license itself is expensive and each dealer plate is about $150. That's Connecticut. Every state has different rules.

I suggest you contact your state Motor Vehicle Dept. and simply ask what the requirements are. They probably have a booklet or you can access the info on the web. Some states are easier than others. You may just need to pay the fees but again, each state has it's own rules and some - like CT - are very strict with no real 'loopholes'.

Good luck.

[mustangdani55]

It seems to be a big deal in my state also...Indiana. The only thing that stopped my old man from getting his was the fact that you have to provide ten kinds of insurance.. and believe me it is NOT CHEAP!!!! That is why we sell our cars out of our driveway.. and it really helps living on one of the busiest streets in indy.

[92Rustang]

I was talking with a dealer buddy today and he is going to hook me up with one of his wholesalers. In IL you need and office, lot, a sign on the building, and couple of legal forums, and the kicker a 20 thousand dollar bond for insurance. For part time I don't know if it will be worth it. But if I can find a wholesaler I could piggy back on his license to get into the auctions( my main goal). The only problem is when I sell the car to another person. I think there are some legal issues there.

[UNICORN]

try getting your "wholesalers" liscense instead, you don't even have to have a lot to sell cars off of or any of that stuff, and i've heard it's cheaper and easier to get.

[92Rustang]

I think in IL to have a wholesalers license you alos need a delaers license. I'm going to talk with a couple of wholesaler this week hopefully I can get some help from them.

[CobraII76]

I live in Michigan To get a dealer license here they send you though fit's they also limit the number of cars you can buy and sell before you need one 12, My partner and I currently have a Georgia Dealer license seems to be the easiest cheapest license to get if you own something in GA which also works in Michigan. I would never tell anyone how to cheat the US Govenmert in a public forum. In private E-Mail that's another story. You can make alot of money in auction cars or lose your butt. so far in the 8 years I've been doing it the wins are more then the losses.

[nosfed]

I have a license in Ks, so I can tell you what it takes here. It's pretty easy, and relatively inexpensive.

You need; retail location with sign visible from the street at least 8" tall, phone number in business name, surety bond, tax number. I think that's it. It took me less than $1,500 to get started, and finding credit was pretty simple.

Overall, I'd say only do it as a hobby; you'll never make a living at it. Ask me how I know.