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How do you get into used car auction?

How i can get Used Car Dealer License?

  • I would like to know if any one can help me or show me right path how i can get used car dealer license, Most of the auction places or need for bid you have to Dealer License. I live in California State. Thanks for help. I can provide more information if you needed.

  • Answer:

    You don't need a lot, most small time dealers buy a few cars and sell them from home. All it takes is money and a decent credit rating. Many people sell books on such things http://www.dealerlicense.com/ but a little research on the net will furnish this info Although I don't go to auctions I can buy/sell up to 4 vehicle a year in my state (NV) without a license Some people get around this by not transfering the title to their name simply purchase then sell to another with a short time frame using the signed title from previous owner I always use my vehicles (re-registered/titled & insured) so I'm limited to four a year since it is documented with the DMV

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you will need a car lot, and a bank account with atleast 10,000 dollars, hope this helps.

Laith Melhem

no you can not vigg- The law is VERY CLEAR. In all states if you the intent to make a profit you need a dealers license. It's not easy In Colorado you must have $100,000.00 net worth 750+ Fico Score Garage Policy Insurance A paved location with a bathroom and all working amenities Must be able to get a $50,000 Dealer Bond Pass a test Pass a background check Must have a floor plan Going to take at least $20,000 in upfront expenses opening expenses, deposits, leases and so on. Then another $100,000 for inventory. This is just the start of it. Source: Colorado Statutes/TITLE 12 PROFESSIONS AND OCCUPATIONS/GENERAL/ARTICLE 6 AUTOMOBILES/PART 1 AUTOMOBILE DEALERS/12-6-102. Definitions. 12-6-102. Definitions. (13) "Motor vehicle dealer" means a person who, for commission or with intent to make a profit or gain of money or other thing of value, sells, leases, exchanges, rents with option to purchase, offers, or attempts to negotiate a sale, lease, or exchange of an interest in new or new and used motor vehicles or who is engaged wholly or in part in the business of selling or leasing new or new and used motor vehicles, whether or not such motor vehicles are owned by such person. The sale or lease of three or more new or new and used motor vehicles or the offering for sale or lease of more than three new or new and used motor vehicles at the same address or telephone number in any one calendar year shall be prima facie evidence that a person is engaged in the business of selling or leasing new or new and used motor vehicles. "Motor vehicle dealer" includes an owner of real property who allows more than three new or new and used motor vehicles to be offered for sale or lease on such property during one calendar year unless said property is leased to a licensed motor vehicle dealer.

$1,539,684,631,121 Clinton Debt

Even a wholesalers license requires garage liability insurance which is not cheap. (And then there are other costs & requirements as well) Price garage liability first as its the biggest cost. But, you couldn't sell to the public without a retail license. Its really not worth dabbling in. I was in it full time for many years. The cost of garage liability has kept me from dabbling even with 15+ years experience.

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