How does the Dealer Licensing process work?
You will be a partner of an LLC (The corporation that owns the dealership) and will be assigned a Dealer Agent status. You will need to pay a monthly fee to be a Dealer Agent of that LLC and will in turn you will be allocated your own dealer plate to be used for transportation purposes for vehicles you have purchased. As a partner you will be bonded and licensed as a car dealer.
How much does it cost to get a dealer’s license?
Around $10,000. Most dealerships cost around $1500-$3000 per month to keep open. As a partner, you are only responsible for your monthly membership fees which are considerably less.
Is there any training that I need to complete?
No. Your manager will train you in every required area and will provide you with the correct dealer forms.
What states are you currently able to help acquire an auto dealer license?
Currently all of the 50 States at this time.
Is this Dealer License in my home state?
We normally try to find a dealership in your same state but the chances are that it will be an out of state dealer.
Is this an Indiana Dealer License?
No we don’t offer Indiana Dealer Licenses.
Can I attend dealer only auctions?
Yes, members can attend dealer only auto auctions. Some used car dealer only auto auctions sell up to ten thousand used cars a week and so taking part in dealer only auto auctions is one of the main advantages of having a car dealer license.
How long does it take to get set up with a dealer license?
If you complete all the formalities and submit all the necessary documents then it will take us a couple business days to set you up on a dealer license.
Is it legal to use someone’s license?
Yes! You are not renting a dealer plate nor renting a dealer license, both of which are illegal. We set you up with a local used car dealership that is structured as a LLC and make you a member of the LLC which gives the you the legal right to buy and sell cars for the LLC. Each member buys and sells the cars as an agent for the LLC and owns the profits he or she makes.
Do I need to have a drivers license, current insurance, and a banking account to get a License?
Yes. If you do not have this documentation, you cannot apply to get a License. No exceptions will be made for anyone.
Will I have access to a line of credit at the auctions?
The Dealers do not offer any type of credit line for their Dealer Partners. All sales at auctions are typically cash sales and need to be paid within 24 hours. Financing will have to be taken care of solely by you.
Are the dealer plates hard plates and registered?
Yes, the dealer plates are metal plates and registered with their state of origin. We do not use paper plates.
How do I make my monthly payments? And is there autopay available?
You will have access to your own online payment portal that you will be able to keep track of all the payments you have made and be able to make payment securely with a Visa, Master Card, American Express or Discover. Once you get registered you will have the option to set up autopay for your convenience.
Am I able to quit the program at any time or am I on a contract for a set amount of time?
There are no contracts as we operate month to month. However if you would like to quit, just give the dealer a notice and return the dealer plate to the address they provide you. If you wish to rejoin you simply pay your monthly fee and a $50 reactivation fee.