Used car dealer license

[Zedder]

Ed, If I were in your position then I would do the same. First step is to Google search Used Vehicle Dealers License in Arizona and find out what is required with respect to the premises, education and licensing. Next look at locations...keeping in mind that many landlords will not allow automotive uses. Then contact insurance companies in the area that handle business policies for used vehicle dealers. Insurance cost is based on the value of inventory, number of dealer plates the business owns, and number of drivers. Vehicles can only be used for business puroses. You can buy as many dealer plates as you like, but you likely only need one or two. Then determine the structure of the business sole propiertorship, partnership, LLC ect. and register the business etc. Good lawyer, good accountant, and a business plan and you are basically set. Remember, this was the process for my location, so it may be somewhat different from where you will be. One interesting side revenue stream that I came across was the storage of collector cars. My calculations showed that storage revenues would likely cover more than half my rental costs.

Many collectors use this sort of arrangement to better manage their collections, so I am sure others will offer advice also. Good luck