Auction License : February 2014

Friday, 28 February 2014

Dealer license in Florida

The State of Florida considers you to be a car dealer and requires you to have a dealer's license if you buy or sell any of the following in a 12-month period:

- Three or more motor vehicles

- One or more recreational vehicles

- One or more mobile homes

All car dealer licenses in Florida are by the Florida Department of Highway Safety and Motor Vehicles. The application and approval process can be long, and it varies depending on what type of vehicle you plan to sell.

When applying for a dealer’s license in Florida, you'll need to specify which type you need. Independent dealer (allows you to deal in used motor vehicles only, for retail or wholesale sales), franchise dealer (allows you to deal in new motor vehicles in agreement with a manufacturer and it allows the sale of used vehicles), wholesale dealer (allows you to buy, sell, and deal only at wholesale prices with other licensed dealers), auctions dealer (allows you to sell, through bidding, vehicles from other dealers but it prohibits retail sales).

To receive your car dealer license in Florida, you must complete the Application for a License as a Motor Vehicle, Mobile Home or Recreational Vehicle Dealer, which is available at any regional office of the Florida Department of Highway Safety and Motor Vehicles. Also, you'll need to provide required documentation and pay any applicable fees.

What are the requirements to obtain a dealer license in Florida?

- Completed Application for a License as a Motor Vehicle, Mobile Home or Recreational Vehicle Dealer

- $25,000 Florida Surety Bond Motor Vehicle Dealer or an Irrevocable Letter of Credit Motor Vehicle Dealer

- Garage liability insurance

- Copy of business lease or proof of ownership of location

- Approval (by DMV representative) of dealership location

- Certificate proving completed dealer training seminar

- Business documents (that means copies of corporate agreement, fictitious trade name registration, sales tax number, federal employee ID number)

- Fingerprints

What about the fees?

Fees you will need to pay for your car dealer license are:

- $300 per approved location.

- $54.25 (per person) for fingerprints and processing.

And what about the license renewals in Florida?

Dealer licenses must be renewed annually, and it will cost you $75. The independent dealers must provide proof of at least 8 hours of continuing dealer training upon renewal.

Regardless of your choice of vehicle, if you fail to obtain a dealer license, you could be charged with a second-degree misdemeanor, resulting in 6 months in jail or a fine of $500. Also, you could also be deemed in violation of Florida's Deceptive and Unfair Trade Practices Act, resulting in large fines or a permanent injunction from a circuit court.

Information on Dealers License, LLC

Dealers License, LLC is based in Greenville, South Carolina and helps clients across the country acquire their dealer license. They can assist you whether you are looking for a wholesale or retail dealer license, either of which allow you to access the dealer-only auctions mentioned above as well as buy and sell within the company's retail network. They will also help you 24/7 with marketing assistance, mentoring and coaching. If you would like to learn more, check out: https://www.dlcnetwork.com/.

Tuesday, 25 February 2014

Dealer license ny

Dealerlicense NY

If you want to sell cars retail or wholesale in New York, you must be registered as a dealership with the Division of Vehicle Safety Services at the New York Department of Motor Vehicles. The process of obtaining a dealer license in New York is pretty much involved, as the industry is highly regulated, but if you take it step by step you'll find it much easier.

Firstly, you are permitted to sell a car in the newspaper as a private-party transaction without a dealer license. However, you must register as a car dealer if:

- You bought the vehicles in order to resell them and one of the following:

- You display three or more vehicles for sale at one time on premises that you own or control

- You display three or more vehicles for sale within one month at such a location

- You sell five or more vehicles in a calendar year

The above applies to dealers of motor vehicles, motorcycles, and trailers, not mobile home trailers.

When you establish if you are required to register as a dealer in NY, the first thing to do is to read the Motor Vehicle Dealers and Transporters Regulations publication from the DMV. There you will find lists of requirements, regulations, and responsibilities. So, to obtain a dealer license in New York, you will need to get the following:

- A Official Business Certificate of Registration from your county clerk

- A federal employee ID number and proof of worker's compensation and disability insurance coverage, if you'll have employees

- A sales tax number and a copy of the Certificate of Authority issued by the New York State Department of Taxation and Finance

- Proof of insurance that will cover vehicles owned or operated by the dealer and sporting dealer plates

- A surety bond in an amount ranging from $10,000 to $50,000, depending on the type of dealership

- Franchise agreements with manufacturers of new vehicles you intend to sell (not required for selling used vehicles)

- A Statement of Ownership or permission to use the place of business

- A copy of the driver license or non-driver photo ID from the company's owner, president, or partner

All items in the above list need to be included along with the appropriate application and business fees.

How long does it take to get a dealer license in New York?

Typically, it takes around six to eight weeks to process an application. Also, you should expect a visit from a representative of the DMV to interview you and check out your place of business during this time. If your application is refused, the DMV will refund the business fees you paid once you return the refund voucher.

Sunday, 23 February 2014

dealer car auction

Car auctions are a method of selling new, but more often, selling used vehicles, based on auction system. Car auctions are present in most nations, but they are often unused by most people because in nations such as the United States, car auctions are protected source for used car dealers.

A dealer-only auction requires a car dealer license in all 50 states. This is the main way dealerships rotate excess inventory. Unlike public auctions, dealer-only auctions usually offer close to new cars, new cars, recent trade-ins or just off-lease vehicles. Additionally, many cars have existing warranties and are carefully rated as to condition.

Where do those cars come from?

Most cars at dealer car auctions are off lease returns, replaced rental fleets, company cars, trade-ins and repossessed vehicles.

1. Off-lease cars: vehicles returned to the financial institution at the end of a lease term. Closed auctions are usually the only way for such financial institutions to get rid of a large number of end-of-lease returns. Usually, off-lease cars are returned within 2–3 years, often before their original factory warranty expires.

2. Off-rental cars: normally, rental companies replace their fleets once a year, releasing a great amount of late-model cars to the secondary market. Rental companies rely on car auctions to sell off their used inventory, just like the big financial institutions.

3. Company/fleet cars: all kinds of companies own or lease cars, trucks or vans that they typically keep for two or more years, even though it is not uncommon to see current year models sold at the auctions. These fleet vehicles do not have many extras and they get thoroughly exploited on a daily basis, just like rentals. But, unlike rentals, usage of company cars varies very much from the carefully driven cars to the delivery trucks that regularly mount curbs in city traffic.

4. Repossessed cars: vehicles can be either voluntarily or involuntarily repossessed by financial institutions for delinquency or another reason for recall. In these cases, car auctions are the bank’s only option for deliverance.

5. Trade-in cars: dealer inventory that is aging or does not meet their profile. The overall condition varies greatly.

6. Salvage: cars that have been in accidents, fires, floods or recovered thefts that have been purchased by insurance companies. The insurance companies then sell these cars to dealers or body shops who fix them and resell them.

What about the pricing?

Vehicles are sent to auction with the main purpose to be sold quickly, regardless of their source. This usually happens at prices that dealers can easily recoup with a small profit from a resale. At the dealer car auctions, cars are seldom sold for low prices. This may happen if there are not enough interested bidders or if the vehicle is exceptionally unattractive. Many sellers put reserve prices on their stock specifically to prevent this from happening. The reserve price is not publicly disclosed and a “winning” bid at auction is only considered a sale if the reserve price is met. Sellers have the option to re-list vehicles that did not sell at a particular auction.

Friday, 14 February 2014

What Is The Difference Between A Retail And Wholesale Auto Dealer’s License?

When choosing to apply for an auto dealer’s license, there are two main options that are available in terms of specific licenses. One is for a retail dealer’s license while the other is for a wholesale one. For people who are new to the industry or haven’t given the idea of licensing much thought, it can sometimes be confusing to know which of these two options is the one that they are looking for. Although you can get assistance with acquiring either type of auto dealer’s license, it is important to understand the differences so you know which one you want.

Where To Sell

The main difference between a retail and wholesale dealer license is where you will be buying and selling the automobiles. If you want to sell vehicles directly to the public, then the retail programs are ideal. That is because in order to sell any automobile to the public you will need the specific retail dealer license. If you do not plan to sell to the public and instead are interested solely in buying and selling to and from other dealers at dealer-only auctions, then the wholesale auto dealer’s license is the better option.

Access To Auctions

No matter which option you select, you will have a dealer’s license and this will give you access to the auctions that are set up only for dealers. These auctions allow you access to special rates as well as other features. They will also give you the opportunity to make important business connections with other dealers who work with similar types of automobiles.

Time

If you choose to get your auto dealer’s license on your own, it can take several weeks no matter whether you are getting a retail or wholesale license. If, however, you work with a company through a shared licensing program instead of applying for a retail license on your own, you can get access to the dealer-only auctions in just 5 days. The actual process of acquiring a wholesale dealer license takes a bit longer (generally between 4 and 6 weeks with assistance to help speed up the process) but you should still be able to get access to dealer only auctions in around 5 days.

Investment

The process of getting a wholesale auto dealer’s license does cost more money than acquiring a retail dealer license and this is especially true if you are using a shared license program which can speed up the process and cut down on costs. This is simply because there are more requirements involved in getting a wholesale license. When getting the assistance of a firm to help you acquire your license, you will notice that there will be a difference in price depending on what type of license you require but that the difference is simply due to assistance in fulfilling all of the requirements, of which there are more for wholesale licenses.