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Mar 21 2020

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How to Become an Auto Dealer

Updated: December 30, 2019 | References

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An auto dealer is someone that buys and sells cars in order to operate a dealership. Due to the fact that there are so many laws and regulations surrounding the sale of vehicles, the licensing process for becoming a dealer is quite in-depth and expensive. The process also changes radically depending on where you live. Start by looking up the requirements for a license where you live. Then, fill out an application, apply for a surety bond, and purchase a lot for your dealership. When you’re licensed, you can begin acquiring inventory to sell to the public.

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Tip: The process of becoming an auto dealer takes quite a bit of time and money. There are a lot of regulations surrounding the sale of vehicles, and you normally need to own a storefront before you can get a license. Keep in mind that this can become a frustrating process and don’t get discouraged.

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Getting a License without a Lot: You can get your license without a lot in a few states. The requirements in every state are different, but you generally need to own or rent a building with a few specific characteristics. Your building needs to have an office that faces the street, large windows, a sign, and at least 2 designated parking spaces. In some states, you can rent out an office in another dealership and pay to use some of the spaces. [7] X Research source

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Tip: New cars are typically the biggest risk for a dealer, but they’re popular among consumers. They have an expiration date in terms of popularity, and they can be tough to assess from a sales perspective.

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Tip: Hire an advertising or marketing firm to develop your campaign. Most dealerships don’t hire a specialist to develop their campaigns, and their ads often come off as cheesy and uninspired.

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About This Article

If you want to become an auto dealer, look up the requirements for your state or contact your local DMV. Once you know the requirements, you’ll need to earn a dealer’s license based on the field you want to go into, like “New and Used” cars, a trailer license, a wholesaler, or a recreational vehicle license. When you’re ready to start the licensing process, you’ll need to complete an initial application and pay the administrative fee. You’ll also need to apply for a surety bond, which is essentially a promise that you’ll follow all important financial regulations, before filing any other applications. Before you can open your dealership, purchase a lot with a storefront since you’ll need to own the land where you plan on operating. Also, apply for a business license to operate a dealership out of the lot. To learn how to acquire inventory to sell at your auto dealership, keep reading!

Auto dealer



Auto dealer

Auto dealer

How to Become an Auto Dealer. An auto dealer is someone that buys and sells cars in order to operate a dealership. Due to the fact that there are so many laws and regulations surrounding the sale of vehicles, the licensing process for…
SOURCE: Auto dealer http://www.wikihow.com/Become-an-Auto-Dealer Auto dealer

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