"How to Get Your Dealer License" Manual
Go to dealer-only auctions, buy cheap cars, & sell 'em for a profit.
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Dealer License Manual
By:Auto Dealer Academy
NUMBER ONE QUESTION: Is it possible to get your dealers license WITHOUT a "Car Lot"?
You bet your bottom dollar there is! You don't NEED a "car lot" but you will need a "commercial location". My recommendations are clearly laid out in the training material. Once you see my plan, you will immediately see why it makes economical sense.
NUMBER TWO QUESTION: How do I get my own dealers license?
The truth is... there are MANY things you don't' know, that you don't know. Those are things that will come back to bite you in the butt. You have BETTER know those things BEFORE you even start down the road to get your dealers license.
I have put together this downloaded PDF teaching you everything you NEED to know BEFORE you get your dealers license! It's only $49! I am going to cover location types, how to get your license as cheaply as possible, how to get a bond & dealer insurance, ... you name it, I have covered it.
SCAM ALERT: Should I use one of these 'dealer license' websites?
If ANYONE is promising to 'lease' you a dealers license OR promise to your OWN dealers license in ANOTHER state - RUN. I have YET to know of a state that allows you to have a dealers license in Indiana and conduct a full time car business while you live and sell cars in Texas!
Just call up your states dealer licensing department and ASK them. Ask, "If I get my license in another state and sell the cars locally, can I?" AND.. THEN.. LISTEN to the answer! Your state wants to PROTECT its RESIDENTS THUS they WILL require you to get a LICENSE in YOUR STATE if you want to do BUSINESS in that state. Be careful. You have been warned. I have seen more than one of these explode. People went to jail AND many lost a lot of money!
A few thoughts for you:
- If you are wanting to operate a REAL used car business, don't waste your time and energy trying to figure out how to get around the dealer regulations. Getting your license is NOT the expensive part of this business folks. Its simply a cost of doing business. The profit potential FAR exceeds this price. PLUS, its kinda near to drive your inventory around with a dealer plate on it.
- Getting your license (any license for that matter) from your state IS a hassle and a bit of a pain. Deal with it. Once again, is it worth the time, hassle, and frustration? Of course!
- You are NOT going to get your license out of your house. Forget about it. Don't thinking about it. Refer to #1!
This download will cover items such as:
- Insurance
- Bonding
- Location Analysis
- Typical Paperwork
- and more....
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Hi George or whoever gets these comments....i'm sure you know people that have a dealers license, but can't yet afford to get a building right? I just recently bought 2 vehicles...2001 GMC and a 1994 del sol. I want to get through the state minimum before i go forward into this more so. If i wanted to go this safer route right now before launching into the deep used car waters, this should be able to be done legally right? If i had a dealers license that doesnt mean you NEED a lot and all the details quite yet right? I want to go slow and cautious here. Trusting ppl and navigating through each process. I guess if you could just let me know that other newbies are doing this and having success. Than, i wouldnt feel so alone in the process. Thnx for the comments....Mark NC
@ Mark Riley
MOST states say you can buy & sell a few cars a year before getting licensed BUT they will also say that if you are doing it for the PURPOSE of making a profit, you need to be licensed from car #1.
I NEVER EVER want a "Car Lot." I recommend renting a WAREHOUSE in area zoned for used car sales! Its an indoor showroom. Plus, it gives you a place to park your boat.
George
I am thinking similar to Mark Riley and I really like the idea of working from a warehouse instead of a "car lot". I can envision marketing the cars individually on AutoTrader, Craigslist, whatever and then meeting buyers by appointment after they've inquired by phone, instead of doing the usual "salesman jumping out of the bushes" at people browsing on a car lot. That is not what I want to be doing.
George,
I wanted to let you know that I liked your concept of Auto Brokering and I wanted to get some feedback from you as to the specific structure I should use. Do you have a brochure or contract that I could tweak for my market?
I have done 3 deals in the last few weeks as a Auto Broker as you described in your course. I charged a flat $850.00 fee over the auction cost with a 14 day Post Sale Inspection and transportation fees applying to my client.
I will often use the retail ready Galves price or MMR to give the customer a budget and will often send some retail view OVE units as a starting point and either use this or the lanes to buy the presold unit to my customer. I take a deposit and once I have purchased the vehicle on my clients behalf I get payment in full. I find that OVE is a good tool but the prices are somewhat inflated due to most of the dealers listing them on Auto Trader and cars.com and are looking for retail type prices as there priority. I am in the process of registering with Smart Auction. Do you have any feedback about their system?
If I find an appropriate deal I will do a full walk around with the listing dealer and attempt to negotiate a better deal. I will then have them do a Post Sale Inspection. What more do I need to do to fufill my obligations to my clientele? I want to discover anything that may have been missed by the P.S.I inspection that is an arbitratable issue over $500.00 repair.
The issue is that usually even though I didnt make a retail mark up of $1,500 - $2,000 I still seam to get the call bakes about small issues brakes a broken remote a power supply cigarette lighter that is loose etc.
At the $850.00 i cant really get to involved in the little recon issues. How do you suggest I handle these issues.
Recent deals:
2005 Volvo V50 75,000 miles K.B.B Retail $14,160.00 Private Party $11,310.00 Selling Price including P.S.I, detailing, and delivery $8,700.00
2002 Honda Odyssey 100,000 miles K.B.B Retail $10,185.00 Private Party $8,410.00 Selling Price including P.S.I, detailing, and delivery $6,590.00
2006 Volkswagon Passat 4 motion 72,000 miles K.B.B retail $19,470.00 Private Party $16,220.00 Selling Price including P.S.I, detailing, and delivery $12,163.00.
I need to develop a system for this. I thought of taking the newly purchased vehicle to the dealer to inspect it after getting them from the auction for around $100.00 adding this to the cost to my client and give them the option of doing any repairs that are not covered under the Post Sale Inspection guarantee for a fraction of the dealer price using parts from my wholesale sources and using my mechanic that charges me $65.00 per hour.
Did you ever here of Titan for Engine and Transmission warranties? Maybe in conjunction with my brokers service I should sell a warranty and offer financing. What do you think and please give me some suggestion of ways to do this in the best possible way with the best possible warranty and finance partner.
Best Regards,
Richard Berger
At Your Service Auto Brokers Inc
845-662-3344
rberger@signatturedc.com
A Richard....
Brochure - see the auto broker manual. There an example there.
Three deals = SWEET. Congrats!
OVE = great idea! Might steal that one.
Post Sale Inspection Routine: I ALWAYS take the car to the DEALER and PAY them to do a pre-purchase inspection to reveal any further issues. The clients pays for this of course. They are very appreciative. With the dealer doing an inspection, its not ME saying the car is great, its the dealer. Very powerful.
Recon is ALL paid for by the client.
Titan = no.... I use Auto Services Company.
CONGRATS RICHARD!
George
George,
I would like to get my Texas license and start by selling on ebay and brokering. My question is about the office hours. I travel one week out of the month and in general do not like being tied down to an office. I was planning on leasing a flex space to meet the state requirement but at this point would not want to hire some one to man the office. Do you have any suggestions?
Thanks,
Scott
@ Scott McPherson
Just post the hours and don't worry about it. I have yet to hear of anyone getting in trouble.
George