Insurance Auctions For Cars
One more quick question about cars auction license?
I want to get a car auction license, I want to buy maybe 2or 5 cars a years , but Florida states required this
Approval of business location by a DMV representative.
Completed application form.
Fee of $300 for each main location.
$25,000 surety bond or letter of credit.
Garage liability insurance or general liability with business policy only for VI, VA, VW, and SD. However, franchise dealer applicants must submit garage liability insurance.
Copy of lease for location or proof of ownership.
Dealer training seminar certificate.
Registration of fictitious trade name.
Copy of corporate papers.
Sales tax number.
Federal employer identification number.
Fingerprints and applicable fees. ($54.25 per person
But i dont want to buy a piece of land to make a bussiness, I know people that leave in Florida, they have a auto car auction license in they dont own a business. I am Confuse.
Unfortunately the lobbying interests of the car dealers have made it tough for anyone else to buy and sell cars. To buy in a dealer auto auction you have to be a registered dealer…that is as it should be. Dealers have made the investment of opening and operating a business and it is not right that they should have to compete with the general public when buying.
This leaves you to find your cars elsewhere…which for you is a good thing and this is why: Dealer auctions are fast moving. From the time the bidding starts on a car until it is sold is 30-40 seconds. If you don’t know what you are doing, you could lose a lot of money FAST. You should look for cars that are for sale by owner. Some are really good deals. You may have to look at ten or twenty to find one that you can make money on…but, if you want to make it that is what it takes.
Good luck
CARS – Gov Auctions
Themocracy