i figured getting my auto-dealers license.so i may go to dealers auction.and after a while then i can prepare myself for a good business location.can i have some advice.or some type of business ideas for someone who doesnt have alot of money but thinks maybe somewhere arond 10,000 would be enough to start something.i need ur help,please
2007-10-11 11:54:15 · 3 answers · asked by nancysaenz@att.net 1 in Cars & Transportation ➔ Buying & Selling
First of all, the requirements for a dealer license differ by state. You do not say what state you are located in, so this will be a general answer!
Most states will require you to post a bond, and pass a criminal records check! You will also need to have a place of business, and if you are planning to sell to the public, and area to display the vehicles. Some states require you to have a shop, others will allow you to have a contract with a local repair facility! Check with your state's DMV to find what is required!
The second thing you have to be aware of is when you buy from a dealer auction, you are dealing with people who know the vehicles and the market value. It is very easy to get caught up in the bidding, and end up paying way to much for a vehicle! If you buy a problem, you can easily lose money!
You might be better off going to work for a dealer and learning something about the business before you try it on your own.
2007-10-11 12:11:22 · answer #1 · answered by fire4511 7 · 2⤊ 0⤋
I don't know where you live, but in some states (like here in Oregon) you need a location before you can be licensed. When I went through the process there were many times I didn't know what to do first, as things all seemed to need to happen at once. I know it cost me about twice as much to get started as I thought it would. $10,000 isn't much to go with. You might get licensed, bonded and insured for close to that, but then you have to buy inventory. My suggestions would be: figure out a market strategy that will be effective. Define your potential customer base. When do you plan on opening for business? Do your research before you take the plunge. Check your state's DMV website - usually they will have information on obtaining your license.
good luck
2007-10-11 12:20:57 · answer #2 · answered by bob_ber_down 4 · 1⤊ 0⤋
http://www.dealerlicense.com/
2007-10-11 12:15:32 · answer #3 · answered by equal_opposites 5 · 0⤊ 1⤋