Can someone give me some info on how I would go about obtaining a private car dealer's license? How much, where you would go, etc.? Any info would be greatly appreciated! :)
2007-03-06 10:01:23 · 3 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
In Massachusetts you must have:
1. A place of business
2. A license from your town or city
3. A facility to repair the vehicles
4. The registry of motor vehicles must inspect and approve the business site
5. You must post a $25,000 bond. Cost about $250 per year
6.Dealer license plates and insurance
7. Garage keepers insurance if you will work on customers cars
With 2 dealers plates annual overhead , not including inventory or business location rent and utilities is about $5000.
2007-03-06 12:43:41 · answer #1 · answered by R1volta 6 · 1⤊ 0⤋
You can find information somewhere on the dmv website. I believe in some states you must have a $20,000 surety bond to obtain dealer license, but I am not sure exaclty what that means.
2007-03-06 12:33:22 · answer #2 · answered by mark s 1 · 0⤊ 0⤋
I bumped into a similar problem 10 years in the past. that is how I were given previous the gadget. I took a job as a vehicle salesman at very small vehicle lot. 3 months into the approach I became a minor investor contained in the corporation. Voila! I now had a region & it replaced into no problem to get the commercial corporation to underwrite the bond because i replaced into listed as section proprietor of the corporation. (colatteral) interior of a year I had my license & offered out my significant different. i don't know if that is going to artwork on your state besides the undeniable fact that it worked for me.
2016-10-17 10:41:58 · answer #3 · answered by ? 4 · 0⤊ 0⤋