My Auto Wholesale License - How Can I Earn Money With It?

Posted in the Auto Dealers Forum

Comments

Showing posts 1 - 20 of45
< prev page
|
Go to last page| Jump to page:
AutoWholesalerMS

United States

|
Report Abuse
|
Judge it!
|
#1
May 27, 2011
 
Hi All,

I am about to receive my Auto Wholesale License, but after reading more about this type of license, it seems it was a waste of money & time, or as one poster here put it in another thread:

"The wholesale business is DEAD right now. Why? No new cars being sold so no trade-ins entering the marketplace. At the auctions I attend there not NOT enough cars to meet the demand so prices are high. I often see cars selling for retail at auction. Dealers are keeping every car they take on trade that are decent no matter the age. The wholesale business model has been turned on it's ears. No margin left for wholesalers to flip cars to dealers. And if the the economy doesn't turn it will get worse."

The main reason I got this type of license is that I can't afford all the requirements for a new/used car dealer license. So I figured this would would work almost as well. But if I can't sell to dealers for a profit..and can't sell to the public..I just wasted a lot of money.

If someone could please let me know how I can use this license to make some profit without going to jail I would really appreciate it. I have a family and elderly parents who depend on me, so I can't afford to do anything illegal that will jeopardize me being able to support my family & elderly parents. I know there are wholesale license dealers who are illegaly selling to the public, but unless there is a legal way around this, I just can't risk doing this for the sake of my family.

If anyone is out there with experience on this subject, who wouldn't mind giving me some free advice or mentoring, please contact me directly & privately at: AutoWholesalerMS@yahoo.com
I will treat your email as confidential and private..for my eyes only.

Thank you & apologies for the long post.
ray

Raleigh, NC

|
Report Abuse
|
Judge it!
|
#2
Feb 18, 2012
 
you need to find out in which auction you can get the cheaper car and resell it in another auction .you need to attend different auction to learn .but please do your homework first.
AutoWholesalerMS

Bay Saint Louis, MS

|
Report Abuse
|
Judge it!
|
#3
Feb 18, 2012
 
Ray,
So what your saying is that the way to make money is to buy a car at one auction, and then sell it for a profit at another auction? Is this how your doing it? And what type of profit are you making per car, just a few hundred or more? You can email me your answer directly at autowholesalerms@yahoo.com and thanks!
ray wrote:
you need to find out in which auction you can get the cheaper car and resell it in another auction .you need to attend different auction to learn .but please do your homework first.
Jim

Greensboro, NC

|
Report Abuse
|
Judge it!
|
#4
Feb 28, 2012
 
First of all to answer your question. The easiest way you are going to make money is putting those cars in the paper, or sitting them on a lot, then running them through a retail dealers license. This isn't jailable. You may get hit with huge fines, the state may sue you and take action against your license, but you certainly aren't going to be doing 5-10 in the pen for retailing a car with a wholesale license. You can go from auction to auction and make a profit, but you have to be extremely experienced in this business, and find market flucuations between locations. Usually if you study market reports you will notice certain cars that bring more Florida than say Tenessee. If you can move the car, pay the buy and sell fee, and still have a little money left, then you did really well. The problem with operating like this is that really well would be 200 a car. You need big volume to make any money this way, which takes large capital. It's a tough go. I'd risk the fines, and make easy money retailing these things.
AutoWholesalerMS

Bay Saint Louis, MS

|
Report Abuse
|
Judge it!
|
#5
Feb 28, 2012
 
Thanks Jim, but I really don't want to risk getting huge fines, because that cancels out any profits I would make. Plus, it gives you a permanent criminal record which will affect other things in your life. Some may not mind the criminal record, but I would.
BassicallyGina

Chicago, IL

|
Report Abuse
|
Judge it!
|
#6
Jun 15, 2012
 

Judged:

2

1

1

Sent you an email. Yes, you can make money at the wholesale car business and you can do it legally. I work in many aspects of the car business, especially with wholesalers. www.IndianaWholesaleDealerLicense.com

BassicallyGina

Chicago, IL

|
Report Abuse
|
Judge it!
|
#7
Jun 16, 2012
 

Judged:

1

I actually tried to give advice and it's true advice and I got judged - really? I work in the wholesale industry, retail industry, do title work and will soon be offering financing and a website for wholesalers to legally sell their cars. When my wholesalers see me at the auction, they are happy to see me! The wholesale industry has a bad rap because a few spoil it. If you do it right, you can definitely make money and be successful. Somebody asked a question and I answered it. I'm legal enough that Carmax is one of my clients. So my answer was not Spam or Nuts. And if someone wants to disagree, that's their choice. But again, I answered a legit question and I know the business.

Since: Jul 12

Las Vegas, NV

|
Report Abuse
|
Judge it!
|
#8
Jul 4, 2012
 
BassicallyGina wrote:
I actually tried to give advice and it's true advice and I got judged - really? I work in the wholesale industry, retail industry, do title work and will soon be offering financing and a website for wholesalers to legally sell their cars. When my wholesalers see me at the auction, they are happy to see me! The wholesale industry has a bad rap because a few spoil it. If you do it right, you can definitely make money and be successful. Somebody asked a question and I answered it. I'm legal enough that Carmax is one of my clients. So my answer was not Spam or Nuts. And if someone wants to disagree, that's their choice. But again, I answered a legit question and I know the business.
Hi BassicallyGina,
I am just getting into the business and I really need some guidance. I will get my wholesale license in 3 weeks, and I want to start doing business with honesty and success. Also, I don't want to get bad deals or cars that I get stuck with, what should I do and what should I watch for?
You can reach me at hisham@expandyourmileage.com
Thank you in advance.
Jchavezz

Whittier, CA

|
Report Abuse
|
Judge it!
|
#9
Jul 9, 2012
 
Like most on this post I am a newbie and would like some advice and guidance. Ill have my dealers license in about 3 weeks and the only thing I'm going to be afraid of is getting someone (retail dealer) to draft my sales. Is there anyone out there that can help me out with this????
vstarrider24

Greenville, SC

|
Report Abuse
|
Judge it!
|
#10
Jul 10, 2012
 
BassicallyGina,
What about buying wholesale and selling them on craigslist or something like that. Can ou do that legally and make money at it.
email - vstarrider24@yahoo.com
AutoWholesalerMS

Gulfport, MS

|
Report Abuse
|
Judge it!
|
#11
Jul 10, 2012
 

Judged:

1

1

1

To Everyone,

I just wanted to warn you to not believe everything these people who are offering to sell you licenses tell you. 99.9% of the advice I have been given about what I can do with a wholesale license is Illegal. But these people don't care, because they can't get in trouble with the law for giving you bad advice (which they know is bad & illegal) and they don't care anyway because they just want to make a profit off of you by charging you a fee. Plus, as you can see, there are always new people coming into this, and they are new opportunities for them to scam.

My advice to you is to check and double check everything they tell you that you can do with your license with your *LOCAL* govt office that issues you your license. VERY IMPORTANT: each state is different but only the state that you are going to sell in counts..not ANY others. Only they can truly tell you if the advice they are giving you is legal. Don't play around with this please..people are going to jail for all the bad advice they are being given..and a judge doesn't care if you were given bad advice..he assumes you are an educated adult and should have checked everything out before you did it with your local govt office that issued you your license. The big car lot guys do everything in their power to make sure people abusing their licenses are punished by the law in order to protect the millions they have invested in their dealerships..which is understandable.

I have a family to protect and whom would not survive with me in jail..so this is why I have taken the time to post this message..as I know many are in my same position.

Good luck to you and double check EVERYTHING with your LOCAL govt license issuing office..EVERYTHING!

Since: Jul 12

Gainesville, GA

|
Report Abuse
|
Judge it!
|
#12
Jul 18, 2012
 
If you need a wholesale dealer surety bond then go to www.ezbondsonline.com Great rates and same day decisions.
tonya sanders

Dayton, OH

|
Report Abuse
|
Judge it!
|
#15
Jan 25, 2013
 
I have been told if u were to purchase ur wholesale hotel license n one state an try to purchase an or sell in another state that u cant do that. I this true??? because this is the whole reason I am wanting toget a hotel license!!!
Jim

Osceola, WI

|
Report Abuse
|
Judge it!
|
#16
Mar 14, 2013
 
tonya sanders wrote:
I have been told if u were to purchase ur wholesale hotel license n one state an try to purchase an or sell in another state that u cant do that. I this true??? because this is the whole reason I am wanting toget a hotel license!!!
Really??? A hotel license? I think your on the wrong post. LOL
JamisonClover

United States

|
Report Abuse
|
Judge it!
|
#17
Mar 18, 2013
 
I'm looking into starting a auction house that has a huge focus on cars. Will I need a retail dealers license for this.
Luis

Alamo, CA

|
Report Abuse
|
Judge it!
|
#19
Apr 7, 2013
 
Good answer brother we as adults in this business having taken the test are responsible for our actions. I have my wholesale license for about a year now and it's tough money can be made but you have to be smart and not get caught up with illegal stuff. As a matter of fact I'm looking to find an office with a few slots to park my cars with a retail license which what I want to get as soon as I find a lot with a small office. If anyone has or knows if a place reply to this msg thank you.
AutoWholesalerMS wrote:
To Everyone,
I just wanted to warn you to not believe everything these people who are offering to sell you licenses tell you. 99.9% of the advice I have been given about what I can do with a wholesale license is Illegal. But these people don't care, because they can't get in trouble with the law for giving you bad advice (which they know is bad & illegal) and they don't care anyway because they just want to make a profit off of you by charging you a fee. Plus, as you can see, there are always new people coming into this, and they are new opportunities for them to scam.
My advice to you is to check and double check everything they tell you that you can do with your license with your *LOCAL* govt office that issues you your license. VERY IMPORTANT: each state is different but only the state that you are going to sell in counts..not ANY others. Only they can truly tell you if the advice they are giving you is legal. Don't play around with this please..people are going to jail for all the bad advice they are being given..and a judge doesn't care if you were given bad advice..he assumes you are an educated adult and should have checked everything out before you did it with your local govt office that issued you your license. The big car lot guys do everything in their power to make sure people abusing their licenses are punished by the law in order to protect the millions they have invested in their dealerships..which is understandable.
I have a family to protect and whom would not survive with me in jail..so this is why I have taken the time to post this message..as I know many are in my same position.
Good luck to you and double check EVERYTHING with your LOCAL govt license issuing office..EVERYTHING!

Since: May 13

Oceanside, CA

|
Report Abuse
|
Judge it!
|
#21
May 3, 2013
 
Hey I'm a wholesaler in riverside CA, and was wondering what your website for wholesalers to sell their vehicles legally will be so I could get involved. Thanks in Advance.
Jersey Dealer

Jackson, NJ

|
Report Abuse
|
Judge it!
|
#22
May 15, 2013
 
Hey I just ran into a dealer at the auction who had an Indiana wholesale dealer license which expired. He bought about 10 cars from the auction over the period when his license was active but because the Indiana BMV broke his chops, he was never able to title a single vehicle. He wants to cash out but his titles are reassigned to a defunct dealership. The state of NJ won't accept Indiana reassignment forms because they are not preprinted like NJ's. So I have to find an out of state dealership (like his old IN wholesale dealership) to flip the titles through. I would be willing to pay a reasonable fee to use someone's dealership to flip the titles, then back into my NJ dealership. Anyone interested? My email is wb2jst@aol.com
Jersey Dealer

Jackson, NJ

|
Report Abuse
|
Judge it!
|
#23
May 15, 2013
 
Hi I have a retail dealership in NJ and I met a guy at the auction who used to have an IN wholesale dealers license. The license expired and he has about 10 vehicles that he purchased while the license was active. The titling process in IN is very complex and he was never able to get a single vehicle titled into his dealership name. The BMV just kept sending his paperwork back asking for more things. So he has (and wants to sell me) titles with reassignments to a defunct dealership. To make matters worse, NJ will not accept IN reassignment forms, so he can't even reassign the vehicles to my dealership. The only way to make these vehicles saleable is to reassign them to another IN dealership to get titles, then I can flip those titles back to my NJ dealership. So, is there anyone out there who wouldd be interested in helping me for a modest fee? My email is wb2jst@aol.com. Feel free to contact me.
ray

Fresno, CA

|
Report Abuse
|
Judge it!
|
#26
Jun 2, 2013
 
BassicallyGina wrote:
I actually tried to give advice and it's true advice and I got judged - really? I work in the wholesale industry, retail industry, do title work and will soon be offering financing and a website for wholesalers to legally sell their cars. When my wholesalers see me at the auction, they are happy to see me! The wholesale industry has a bad rap because a few spoil it. If you do it right, you can definitely make money and be successful. Somebody asked a question and I answered it. I'm legal enough that Carmax is one of my clients. So my answer was not Spam or Nuts. And if someone wants to disagree, that's their choice. But again, I answered a legit question and I know the business.
any luck

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Showing posts 1 - 20 of45
< prev page
|
Go to last page| Jump to page:
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Other Recent Auto Dealers Discussions

Search the Auto Dealers Forum:
Topic Updated Last By Comments
China Car Sales Stall, But Wealth Gets Gas 10 hr grdsghsfgd 1
GM sales eyed for impact of ignition switch recall Apr 15 kev 1
Tesla bill on auto sales dead at Arizona Legisl... Apr 14 Death role 1
renting auto dealer license (Apr '07) Apr 10 miton 957
dealer licensing (Nov '06) Apr 9 Tim Putnam ripoff scam 48
California used car dealer license questions (Aug '07) Apr 3 Scott 17
Become an Auto Dealer - Get Your Used Car Deale... (Mar '11) Apr 2 Courtney 30
•••
•••
•••
•••