what kind of licenses do i need to sell cars? please help!
noob with an rs
03-30-2006, 07:07 PM
hi, i am a 21 year old smog technician and i work with my father smogging cars here in california. i have decided that i want to get an auto dealer's license so that i can get into car auctions and purchase vehicles for cheap; then sell them for a good profit after i tune them up, clean them up some, and make sure they pass smog. the reason i have made this decision is because we smog a lot of cars for independent car dealers and it seems like its a simple business; buy cars for cheap (cheaper than the public gets them) and sell them. the fact that i have my brother and father (who are VERY experienced in auto repair and such) is a big plus so if i happen to get a messed up/bad car they can help me diagnose without charging me. so in the end i have more to gain than other people would in the business; i have a lot of resources (my dad and many of my uncles have been fixing cars for 25+ years and i have access to all kinds of shop tools and equipment). so this seems like a good route for me to make some cash on the side while i go to school. and my dad will HELP me fund it too! so does anybody know what else ill need besides an auto dealer's license? i've read that i need at least two parking spaces for two cars at the least.. and im working on attaining those.. anyone know if there are any other requirements in getting the auto dealer's license itself? are there any other legal issues i should know about? will i need a seller's permit? a business license? any other licenses i need to know about??? if anyone out there with expericence in owning a business or anything relevant could help me out i would greatly appreciate it. if you guys could point me in the right direction on how to get started that would be great too! wish me luck!! im serious about going through with this and think this is probably the best idea ive come up with to help myself and my future http://www.caraudio.com/forum/images/smilies/tongue.gif
PS - i forgot to mention that i dont plan on opening up a whole lot or building or anything like that; i plan on having no more than three cars at a time (being that im just a 21 year old who cant afford to purchase a whole lot of vehicles! haha) and i read that to be a car dealer only TWO parking spots are required.. for two cars! so im going to work my way up if anything.
PS - i forgot to mention that i dont plan on opening up a whole lot or building or anything like that; i plan on having no more than three cars at a time (being that im just a 21 year old who cant afford to purchase a whole lot of vehicles! haha) and i read that to be a car dealer only TWO parking spots are required.. for two cars! so im going to work my way up if anything.
drdisque
03-30-2006, 07:39 PM
ya, you need a dealer license. Whether or not you get a business license depends on what you want to do with any profits you make (pull them out for personal use or reinvest in more cars) and what your current tax standing is.
noob with an rs
03-31-2006, 03:32 AM
ya, you need a dealer license. Whether or not you get a business license depends on what you want to do with any profits you make (pull them out for personal use or reinvest in more cars) and what your current tax standing is.what if i want to use some of the profits for personal use and some of it to pay off a loan i used to buy the car??
Chad82
03-31-2006, 11:46 AM
Talk to a tax specialist, which I assume none of us here are.
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