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FAQ
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A wholesale dealer is a vehicle dealer who is exclusively involved in the sales of vehicles between licensed dealers. Wholesale dealers must maintain a business office, but are not required to post their wall license, have a display area, or have a business sign.
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9 Steps to Getting an Illinois Dealer's License Determine the Type of Car Dealer License. ... Fulfill the Prerequisites. ... Obtain a Permanent Business Location. ... Complete the Pre-Licensing Education Course. ... Secure a Surety Bond. ... Obtain Proof of Liability Insurance. ... Submit the License Application & Fees.
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To get a dealer's license without a lot, you can apply for a wholesale license. Obtaining a wholesale license does not require a lot. However, a wholesale license only allows you to sell, buy, and trade cars among wholesale dealers and you can't sell cars to car end users.
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Wholesalers buy vehicles at auction or from dealers that are having trouble retailing. They then turn around and sell the vehicle for a significant profit. Wholesaling trade-ins is often seen as a necessary evil for managing inventory by moving aged units so they aren't tying up funds.
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What Is Wholesaling or Wholesale Distribution? Wholesalers operate as middlemen between product manufacturers and retailers or other businesses. They make a profit by buying products in bulk at a discount and reselling them in smaller quantities at a higher price to individual retailers.
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The wholesale value of a vehicle is the value that a dealer would pay to purchase it from a car manufacturer. In the case of trade-in vehicles, the wholesale price might also be the price a dealer would pay to purchase the vehicle from a dealer auction. In any case, wholesale value is a measure of dealer cost.
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How to Get a Michigan Dealers License Step 1: Determine license type. ... Step 2: Get your business location. ... Step 3: Register your business. ... Step 4: Complete the pre-license dealer training program. ... Step 5: Get a surety bond and insurance. ... Step 6: Submit dealer license application. ... Step 7: Pass the location inspection.
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A wholesale dealer is a vehicle dealer who is exclusively involved in the sales of vehicles between licensed dealers. Wholesale dealers must maintain a business office, but are not required to post their wall license, have a display area, or have a business sign.
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by J Horst · Cited by 6 — Buyers and sellers of seafood and fisheries products, alliga...
Learn more -
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Learn more -
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Learn more -
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Learn more -
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