How do I start a used car business in Georgia?

How do I start a used car business in Georgia?

How to Get a Georgia Auto Dealer License

  1. Determine Which Type of Georgia Car Dealer License You Need.
  2. Attend a Pre-Licensing Seminar.
  3. Obtain a Permanent Business Location.
  4. Apply for a Sales Tax Number.
  5. Get Proof of Liability Insurance Coverage.
  6. Get Your Auto Dealer Bond.
  7. Submit Your Georgia Auto Dealer License Application.

How many used cars can you sell without a license in Georgia?

The general rule of thumb is that if you deal 5 or more used vehicles in a 12-month period, you must have a Georgia Used Car Dealer License. Not sure if you need a dealer license? Check out this post on selling cars without a license.

How much does a dealer license cost in Georgia?

Licensing Fees The application fee for initial licensure is $170. You’ll have to pay the same amount for each additional location you’d like to operate. The renewal fee is $150 if you renew your license on or before March 31st of even-numbered years. The late renewal fee is $250.

Who regulates used car dealers in Georgia?

Georgia State Board of Registration
The 14-member Georgia State Board of Registration of Used Motor Vehicle Dealers and Used Motor Vehicle Parts Dealers is composed of two divisions, a Used Motor Vehicle Division and a Used Motor Vehicle Parts Division.

How much is a dealer bond?

How much does an auto dealer surety bond cost?

State Bond Amount Cost* (Annual Premium)
Alaska $25,000 / $50,000 $438 / $875 (two years)
Alabama $25,000 $250
Arizona $20,000 / $25,000 / $100,000 $200 / $250 / $1,000
California $50,000 $400 – $2,500*

How many cars can you flip in GA?

You cannot sell more than 4 vehicles registered to you in any 12-month period. You cannot buy and sell vehicles for the purpose of making a profit.

How much does it cost to start a used car dealership?

The total cost of opening a car dealership is generally considered to be upward of $100,000 to as much as $200,000. The reason for the range in the cost is due to the difference in expenses depending on the state you are opening your dealership in, and the type of dealership you will be opening.

Does the lemon law apply to used cars in Georgia?

By far the greatest number of sales of used cars in Georgia are “as is” which means there is no warranty. The lack of any lemon law for used cars in Georgia means there is no warranty or lemon law protection from unscrupulous used car dealers.

Can I return a used car in Georgia?

Georgia’s Cooling Off Rules allow a consumer 72 hours to back out of certain door to door salesman type contracts like for vacuum cleaners and encyclopedias. This does not mean that there may not be other laws that protect the consumer from unscrupulous used car dealers.

How to become an used car dealer in Ga?

The requirements for a used car dealer in Georgia (Ga.), is you to post a bond to the amount of $35,000. A used car dealer bond is a type of surety bond. It is the government’s way of making sure you will run your business in compliance with state laws.

How to start a small business in Georgia?

Having an in-depth, concrete understanding of your market is essential to the success of your startup in Georgia. The best way to identify your competitors and target market is to conduct market research. Here are a few ways to conduct thorough market research: Conduct a survey. Hold a focus group.

When does a Georgia used car dealer license expire?

If you are not approved, you should receive a letter within 3 weeks. For questions or concerns with the licensing process, call the Georgia Motor Vehicle Division at 478-207-2440. Georgia Used Car Dealer Licenses are valid for two years, expiring on March 31 of even-numbered years.

What’s the best way to start an used car dealership?

Ordinarily, sole proprietorship should have been the ideal business structure for a used car dealership business especially if you are just starting out with a moderate start – up capital and a small sales garage in a street corner. But people prefer limited liability Company for obvious reasons.