This information you’re about to receive is priceless. Used car dealers don’t want me to share this information with you.
Many people who are successful at buying and selling cars never take the plunge to get car dealer licensing. They’re content with just selling a couple cars on the side and don’t care to take it to the next level. Others think its just too big of an investment. They’re not hungry enough to keep growing. The myth is you have to have a car lot to get a retail dealers license. The fact is you can get a retail dealers license without having a car lot and I’ll tell you how.
I currently only pay $350 month in rent for my space, and I’ll teach you how to do the same. I used to pay $650 but realized I didn’t need a large space. Getting a retail dealer license does take some time and perseverance but you don’t need to have a lot of start up money. Think of all the privileges you’ll have:
- You’ll be able to go to private dealer auctions: This is where you get the hands down best deals on cars wholesale. You wont have to spend all that time searching for deals on craigslist anymore. There will be hundreds of deals at a dealer auction.
- Smog certificates for dealers last two years: For the public it’s three months in California. This is important if you’re having trouble selling a car. You’re not going to want to smog the car again if it doesn’t sell in three months.
- If you have a car in dealer inventory with expired registration you can waive any penalty fees when the registration is renewed:The registration on a vehicle could have expired years ago. You wont have to pay any DMV penalty fees As long as it’s in your dealer inventory before the registration expires.
- You can charge the public a fee to buy cars for them at dealer auctions:The public hires dealers to get cars for them at private dealer auctions. Usually dealers charge $500 for this service.
- You can buy cars at charity & public auctions that have failed smog:The public can not buy cars at charity auctions that have failed smog. Dealers can!
Yes you can get salespersons license and have the same privileges of a dealer but it’s not stable. Maybe if you’re lucky and have a friend who has license, they’ll let you get a salesperson license under them. I doubt they would let you unless there is something in it for them. Guys I know who have a salesperson license have to split their profits with the owner. They’re pretty much at their mercy. They decide which auctions you can intend, and which you cant. I canceled the privileges of a salesman working under my license. He was making poor buying decisions. He was buying expensive cars with high mileage. If he didn’t come up with the money to pay for all those cars, I would have been held responsible. You can have your privileges canceled whenever the dealer seems fit.
Bottom line its much better to have your own license so you’ll have complete freedom over your business decisions.
It’s much easier than you think to get a dealers license. Learn how to get car dealer licensing and pay low overhead to maximize profit.
Without low overhead, you can get buried quick especially when you’re starting out.