a car dealer license is not required to buy and sell cars, but a car salesmans license is
The below information is what is required for starting a car dealer lot
My experience
The realty of getting a dealer bond
a car dealer license is not required to buy and sell cars, but a car salesmans license is
You don't need a bond with my plan
If you were going to set up your own car lot, The first thing you will need to do is acquire a bond, in the amount of $10,000.00 - $50,000.00 depending on your state. I applied for a bond and I am just your average 55 Y.O. guy who rents an apartment and does not own my own home, but I have good credit. The bonding company wants to see financial reports that show you have thousands of dollars in a business account to support your new start up car lot. Also they will want to see on a resume, what are your qualifications and experience in the car business that would make you worthy of there bond. Ever since 9/11 it has become difficult to get a dealers bond because of how easy used car lots could act as a funnel for hiding cash that was used for illegal purposes. After setting up a business and opening a bank account for that business I could not provide enough to get a $30,000.00 dealer bond. I wasted a lot of time and money, before I found the "secret" and got my salesmans license and tag with no bond, I will show you how I did it. Only $29.95-payPal
