As much as I love my insurance company, I believe it might be advantageous for me to get a Texas independent car dealer license. Does anyone else have any experience doing this?
As much as I love my insurance company, I believe it might be advantageous for me to get a Texas independent car dealer license. Does anyone else have any experience doing this?
I don't get the connection with insurance. You do know that with a dealer license you would also need some form of business (garage keepers) insurance?
Yes, I do know that, but it's cheaper than 6 separate collector/low-mileage/regular car policies. That being said, it's not all about insurance. I could also save on licensing, plus make it a bit of a side hustle?
There are other expenses/requirements I'm sure, but I'm hoping someone on here has done this?
I am sure those simple loop holes have all been closed. Here in Ohio, the powerful Auto Dealers Association lobby has done a good job of making the requirements prohibitive to all the hopes you have.
Most notable in Ohio, must have posted hours for showroom and subject to verification of staffing those hours.
In reply to John Welsh :
Prior to living in Texas, I looked at the Georgia rules - all I needed was a basic lot and a business phone number. Perhaps I need to look into a different type of license - collector, maybe? Other than a bond, TX looks pretty simple.
Every state is different. Do share what you learn.
I briefly looked into it a few years ago. As John Welsh found, you must have stated hours when you are open.
If your goal is to beat the insurance man then you are going about this all wrong. You need to get collector's car insurance and not a dealer license. You will have a much higher cost with a dealer's license.
bmw88rider said:If your goal is to beat the insurance man then you are going about this all wrong. You need to get collector's car insurance and not a dealer license. You will have a much higher cost with a dealer's license.
Not according to his original post...
FIYAPOWA said:Yes, I do know that, but it's cheaper than 6 separate collector/low-mileage/regular car policies.
Collector's insurance is generally really cheap but maybe it's different where you live.
You'll need the following:
A surety bond (used to be $10,000, might have changed)
Commercial property that has spaces for a minimum of three cars, a desk, two chairs, and a hard phone line. Depending on which county you're in, you'll likely also be required to have a handicap accessible parking space.
Signage with lettering of a specific height, permanently displayed on said commercial property
This is all in addition to your GDN and the applicable fees paid to the state
For your purposes, it might be easier to pay an established dealer to "subdivide" their lot, though finding a trustworthy used car dealer is like finding a trustworthy used car dealer
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