How do I get a car dealer license in NY?

How to Get a Dealer’s License in New York

  1. Determine What Kind of Dealer You Want To Be.
  2. Obtain a Permanent Business Location.
  3. Obtain Your Auto Dealer Bond.
  4. Obtain Proof of Liability Insurance.
  5. Purchase Your Dealer’s Starter Kit.
  6. Compile the Required Documents.
  7. Submit Your Dealer License Application.

How many cars can you sell in a year ny?

5 vehicles
The New York Department of Motor Vehicles requires auto dealers to be licensed if they sell more than 5 vehicles in a one year period.

How do I open my own car dealership?

Starting a Car Dealership Business

  1. Crunch the Numbers.
  2. Consider the Type of Dealership.
  3. Perform Market Research.
  4. Satisfy the Legal Requirements.
  5. Obtain Licensing and Insurance.
  6. Build Inventory and Establish Buying Policies (If Applicable)
  7. Assess a Service Department.
  8. Establish an Online Presence.

How do I become a car broker in NY?

All applicants have to obtain an auto broker bond in order to obtain a state license. The surety bond functions as a security mechanism that protects your customers against potential illegal actions on your side. You need to post a $100,000 bond in the official form and provide it to the Division of Licensing Services.

How much does a dealer license cost in NY?

$450 NY Dealer License registration fee.

How do I get a dealers license in NY 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 do I get a dealer plate in NY?

To get a New York Dealer License, you’ll need to complete an NY Dealer License Application, get a Sales Tax ID Number, purchase insurance, secure a surety bond, and provide other necessary documents and fees.

How many cars can I sell from home?

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.

How much do car dealers make?

The majority of car buyers think dealers make between 10 and 20 per cent profit on every new car they sell. In an exclusive survey for Car Dealer, What Car? found that 28.2 per cent of 5,000 car buyers surveyed think dealers make 10-20 per cent on every car.

What is an auto broker?

Land a Car With Help Your best bet in finding the car you want at the price you can afford is to hire an auto broker. Auto brokers connect you with the best deals on the market. They use their connections and buying expertise to save you time and money. To find the best automobile deals out there, contact us.

Can you buy a car without a license in NY?

Can you buy a car without a license in NY? Absolutely, although you will not be able to test drive it or drive it off the lot once you have made the purchase. There is no law on the books that says you must have a valid driver’s license to buy a car.