Often asked: How To Get A Va Used Auto Wholesale License?

How do I become an auto wholesale?

Download our FREE e-book guide for full information on how to become an auto dealer!

  1. #1 Get a state business registration.
  2. #2 Find a location for your dealership and have it approved (if applicable)
  3. #3 Complete your wholesale dealer license application.
  4. #4 Submit your application and pay fees.
  5. How much does the bond cost?

How do you get a dealers license in Virginia without a lot?

How to Get an Auto Dealer’s License With No Storage Lot

  1. Contact the Zoning Department.
  2. Contact the Secretary of State’s Office.
  3. Contact the Department of Motor Vehicles.
  4. Complete the Auto Dealer Application.
  5. Apply for a Surety Bond.
  6. Complete a Dealership Training Course.
  7. Register the Business Name.
  8. Apply for a Sales Tax Number.

How much does it cost to get a dealers license in Virginia?

The dealer license cost in Virginia is around $600 for a yearly license, consisting of $350 fee for the Motor Vehicle Transaction Recovery Fund. This fee, as well as the surety bond requirement, are needed only for the first three years of licensing, in case you have no claims against you during this period.

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How many cars can you sell in VA without a dealers license?

Generally, you are allowed to sell no more than four vehicles per year without having an auto dealers license under Department of Licensing (DOL) guidelines.

What is the difference between a used car dealer and a wholesaler?

What is the difference between a Wholesale Dealer and a Retail Dealer? A Wholesaler may not sell vehicles to individuals. A Retail Auto Dealer License will allow you to not only buy and sell vehicles to other dealers, but will also allow you to sell vehicles to customers.

Can a wholesale dealer buy from the public?

Wholesale. A wholesale dealer license allows you to buy from private parties, at the dealer auctions, and from other dealers directly. Wholesale dealers cannot sell directly to the public. There are some additional wholesale dealer sales options and business models which we cover in class.

Can you make a living flipping cars?

Flipping cars for profit is definitely one of the most profitable ways to make money outside of flipping houses. The investment is a little higher than what most people are comfortable with but the rewards make it well worth it.

Can a felon get a car dealer license in VA?

Under Virginia law, a felony conviction is a basis for revoking either type of license, though the revocation is not automatic. A hearing officer determines what happened through an informal conference and recommends a course of action to the 19-member board, which is populated largely by car dealers.

Is Instant dealer license legit?

Our Co-op Dealer License System has withstood numerous legal challenges over the last 28+ years and is 100% legal in all 50 states.

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Can you flip cars in Virginia?

If you wish to flip vehicles for a profit in Virginia, you will need to get a Virginia Dealer License. There are different license types. Check out this post on selling cars without a license.

Do you need a license to sell cars in VA?

Each dealership salesperson must be licensed by the Board, employed by the dealership, and may not be classified as a “1099 independent contractor.” See Virginia Code § 46.2-1537, and § 46.2-1500 salesperson definition.

How many cars can you sell a year?

There is no minimum number of cars an individual can sell before they are deemed to be a trader. A person will only be considered a trader if they buy cars mainly for the purpose of reselling them at a profit, regardless of the number of vehicles sold each year.

Is car flipping illegal?

Our investigation found that flipping a car for profit is not illegal. We have learned, in most cases, it can be done legitimately. The DMV also suggests, when buying or selling a car, to complete the transaction at the DMV.

What is Curbstoning?

Curbstoning is defined as the act of systematically selling or “flipping” vehicles while posing as a private seller. Curbstoning is regulated individually by state governments, and is considered illegal in most legislatures.

Is there a limit to how many cars you can own?

Owning more than one vehicle can be done as a hobby or out of necessity. But will that get you in trouble at some point? How many vehicles can you have on your property legally? There is no limit to the number of vehicles you can own.

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