How hard is it to get a NY Dealers License ? - Mercedes-Benz Forum

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post #1 of 5 (permalink) Old 03-01-2006, 07:32 AM Thread Starter
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How hard is it to get a NY Dealers License ?

The reason I ask, I would like t0 be able to buy cars at the highline auction for cheap.

specially interested in copart, iaai, and highline auctions . I once was at a highline auction and saw a 2000 x5 w/ 50K for only 20K
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post #2 of 5 (permalink) Old 03-01-2006, 09:58 AM
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RE: How hard is it to get a NY Dealers License ?

I knew a dealer in New York but he never mentioned anything like you said.[?]

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post #3 of 5 (permalink) Old 03-01-2006, 02:34 PM
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RE: How hard is it to get a NY Dealers License ?

Do you mean like for cars that have been salvaged, flooded and etc? Im guessing these guys also sell cars that have nothing wrong with them as well.

A friend of mine said his brother bought a Porsche for a really cheap price by one of these auctions. I dont know much more about it.

What other information do you have on this? I only heard it a couple of tims but I didnt now if they had these things.
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post #4 of 5 (permalink) Old 03-02-2006, 11:23 AM
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RE: How hard is it to get a NY Dealers License ?

You know, if an auction lets too many of the general public in, dealers will stop working with them.

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post #5 of 5 (permalink) Old 03-06-2006, 01:30 PM
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RE: How hard is it to get a NY Dealers License ?

I can't speak specifically to New York, but I would think that the requirements there would be similar to Florida and perhaps even more stringent. You have to understand that, in many if not most states, automobiles dealers are highly regulated with lots of red tape. In Florida, to get a dealer's license you have to have a business address that is zoned for automobile sales or repairs. That in itself is tough as more jurisdictions restrict where such businesses are located. You also have to be a legitimate business which means organizing a legal business entity (corporation, LLC, etc.), obtaining a Federal Employers Identification Number (EIN), local business and operating licenses, occupancy permit, insurance, etc. Next is a required instructional course and test administered by the state and an inspection of your business premises by a state inspector. Once the Feds issue you an EIN they will expect to see a tax return filed every year for that EIN. If your "business" doesn't show a profit every few years (I forget what the exact time frame is), the IRS can say that you're a hobby and not a business and disallow expenses in excess of income that led to the losses. If that happens you then owe back taxes plus penalties and interest. And then there are annual reports to the state, state taxes on income, local inventory taxes, and on and on and on. You'd better be buying one heck of a lot of cars at Mannheim or other auctions to warrant all this paperwork and red tape. Good luck.

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