Auto dealer's license???
- Thread starter Coreshot
- Start date
There is a lot of stipulations to it. To get it you have to actually a lot with a building including a file cabinet and the lot has to be in an area that is zoned for that type of use. You also have to be bonded and insured whichisn't cheap. To do what you want to do isn't possible unless you are planning on going in it fully. There is a way around it though. Find a dealer that will let you be on his buying card and you can go in. That dealer has to show you as an employee though. I could be just talking out my arse but that is my experience on it.
That's not completely true. My wife's uncle does exactly what Coreshot is looking to do. He also lets his kids buy cars under his dealer license to make some extra money. He doesn't have a lot or a building, but probably a file cabinet
BCGPER
Starting Another Thread
- Location
- Sunny Arizona
Lewis, I believe you're correct on this one. Here's a little information on the licensing requirements in Utah. There may be different "types" of dealers, I'm not sure on that one.
http://www.dmv.org/ut-utah/dealer-licensing.php#Licensing_Requirements
There are some auctions that open to the general public on occasion. I would recommend you avoid those sales. For the most part, those cars are the ones that the auction yard failed to sell to a dealership after multiple attempts.
My history is primarily with repos. When I would buy one, I would always work with the lien holder, and get it before it went across the auction block. You may want to try and work with some of the local credit unions and see if they're willing. I've found that the banks are usually for more difficult to work with, and I'd steer clear from the title loan outfits.
http://www.dmv.org/ut-utah/dealer-licensing.php#Licensing_Requirements
There are some auctions that open to the general public on occasion. I would recommend you avoid those sales. For the most part, those cars are the ones that the auction yard failed to sell to a dealership after multiple attempts.
My history is primarily with repos. When I would buy one, I would always work with the lien holder, and get it before it went across the auction block. You may want to try and work with some of the local credit unions and see if they're willing. I've found that the banks are usually for more difficult to work with, and I'd steer clear from the title loan outfits.
I was on Craigs List last night and saw this. Sounded interesting.
http://saltlakecity.craigslist.org/aos/1002259752.html
http://www.getyourowndealerlicense.com/
http://saltlakecity.craigslist.org/aos/1002259752.html
http://www.getyourowndealerlicense.com/
I Forgot the sign part, need a sign too, but was right on the lot and file cabinet. I knew there was something to do with needing a $50000 bond but couldn't remember
This is from the dmv
Unfortunately, the empty lot next door doesn't qualify as an appropriate site for an auto dealership. You must have a location in Utah devoted solely to selling cars, and this site must be zoned for motor vehicle sales. It must have display space for at least three vehicles and have a building for the office, which is where you're required to keep all your books and business records for the dealership.
This is from the dmv
Unfortunately, the empty lot next door doesn't qualify as an appropriate site for an auto dealership. You must have a location in Utah devoted solely to selling cars, and this site must be zoned for motor vehicle sales. It must have display space for at least three vehicles and have a building for the office, which is where you're required to keep all your books and business records for the dealership.
Interesting, I don't know how my wife's uncle gets away with it then.
He does own several businesses so he may be doing it under one of his other companies??? that's not from THE dmv, that's from DMV.org which has a warning when you go there that says they are not owned or operated by any government agency. I doubt the actual laws read that straight forward...they never do Here's the official website from the utah.gov website http://mved.utah.gov/dealerlicense.html
It's pretty clearly laid out what's required. The $50K bond is actually a $75K bond though.
It's pretty clearly laid out what's required. The $50K bond is actually a $75K bond though.
