Method 6 Setting Up to Be An Auto Broker
- Obtain either a wholesale dealer license or a retail dealer license. An auto broker endorsement is an add-on to your license, so you need a license before you can become a broker.
- Set up an office.
- Get a sign that is at least two square feet.
How much can you make as an auto broker?
An auto broker’s average salary is between $40,000 and $60,000, but for a luxury auto broker, it could be as high as $250,000 a year. The reason that it’s tough to find an auto broker’s average salary is that most luxury auto brokers (and general auto brokers) make their money from a commission of each sale.
How do I get my auto broker license?
Part 2 Meeting the License Requirements
- Pass the background check.
- Prepare a business plan.
- Obtain a business license.
- Apply for a surety bond.
- Secure your retail location.
- Complete your DBA name statement.
- Determine if you need to file incorporation papers.
What’s an auto broker?
An auto broker or auto buying service is a dealer who engages in the business of brokering where there is an arrangement under which a dealer for a fee or other consideration regardless of the form or type of payment, provides, or offers to provide the service of arranging negotiating assisting, or effectuating the
Is flipping cars illegal in California?
Flipping Cars in California without a California DMV Dealer License! As of October of 2018, you are able to sell up to 5 vehicles per year as a private party. That means no licenses needed, dealer education, sales taxes paid, etc if you only want to sell 5 cars per year.
Should I use an auto broker?
Advocates for using a broker like to use the argument that car dealerships are professionals at selling, so why not hire a professional at buying? An auto broker manages the process of buying a car on behalf of a customer. This can include finding the desired vehicle and negotiating the price.