Know idividuals who buy cars from auto dealers auctions without a dealers liscense. How can one qualify to do this? Can one use someones liscense? Can you buy a dealers liscense to sell cars privately? Is their a limit on the number of cars you can sell?
2007-03-24 13:36:47 · 7 answers · asked by maverick 1 in Cars & Transportation ➔ Maintenance & Repairs
It depends on the specific auction. Most are open to the public but a few are trade only.
As for selling, if your buying and selling to make a profit there isn't a limit of amount of cars you can sell. If you sell one as a trader then your seen to be trading.
Auctions are difficult places to buy if you dont know what your doing. A non trader will find his bids run up with bids off the wall. You also get very little chance to examine the cars mechanicals. A quick look under the bonnet as it stops in front of the rostrum. Once you bid its yours even if it needs pushing back to the car park. You also have your buyers premium to pay above the auction price, normally £60 upwards.
To stay legal you need to get a license from your local council to sell cars. You then have to adhere to all the relevant laws regarding selling vehicles.
With the values of used cars currently its more bother than its worth.
2007-03-25 01:53:06 · answer #1 · answered by Mark B 5 · 0⤊ 0⤋
In my state, the State of Michigan a person can buy and sell up to 8 vehicles a year before they have to apply for a dealer license. I would have to say it depends were one lives and in what state.
As for auctions, most vehicles are privately owned and auctioned off and if you listen close they will start off with what the owner will take minimum. Any vehicle a bank repo's usually goes to a dealers auction, not a private auction.
2007-03-24 13:46:37 · answer #2 · answered by dick_bee_bad 5 · 0⤊ 1⤋
Most auctions are open to the public as well (in the UK anyway), members of the public may find themselves competing with a dealer over a car. If you aren't used to auctions it's best to get someone to go with you who is. And don't get carried away!
2007-03-25 00:00:40 · answer #3 · answered by champer 7 · 0⤊ 0⤋
There is public auctions as well as dealer auctions. You have to find them. You could also be a "guest" at a dealer auction as long as you know people.
2007-03-24 13:44:42 · answer #4 · answered by Lab 7 · 0⤊ 0⤋
You don't need to be a dealer to buy at auction.
Some auction have private sales were only dealers are allowed, and you don,t deed a licence . to buy .
2007-03-25 00:11:34 · answer #5 · answered by Mick 4 · 0⤊ 0⤋
I think they either set up as sole traders (cheap and easy), or they go to the normal car auctions that traders and public can both go to.
2007-03-24 13:45:33 · answer #6 · answered by mittobridges@btinternet.com 4 · 0⤊ 1⤋
It's not always illegal
2007-03-24 14:36:13 · answer #7 · answered by Scotty 7 · 0⤊ 0⤋