Hi im trying to get information on how much to expect to start a used car business. I hope a person who has a license can tell me the figures. I would like to know how much to expect to pay for the surety bond, fleet insurance, and monthly expenses.
Hi im trying to get information on how much to expect to start a used car business. I hope a person who has a license can tell me the figures. I would like to know how much to expect to pay for the surety bond, fleet insurance, and monthly expenses.
It varies from location to location. try going to your local area chamber of commerce I am sure they would be glad to help.
Depends upon the State you live in.
Count on about $15,000 in start expenses to pay for your bond, insurance, beginning rent, the financial statement that the state requires from a CPA, your city business license, your county business license, the State issued license, office equipment and supplies, starting supply of all the forms, invoices, business cards, I could go on for days.
$15,000 is a minimum for all these start up expenses, and that is if you really shop for the best prices.
Also remember, most States require that you have a certain amount of Finances available before they will issue you your dealers license.
It’s a long process, just make sure that you follow your States guidlines step by step, it will save you time and money in the long run.