A car broker gives buyers, sellers and dealers a different option to buy and sell in the automobile industry. Private buyers use car brokers because they offer a more inexpensive, wholesale driven price. In addition, car brokers give more personal service because they can also search for a specific vehicle that the buyer wants, complete with chosen features. To become a car broker, you'll need to secure a state license and surety bond. You can become a car broker without having a car lot or being a retail dealer.
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Perform your due diligence on the guidelines, policies and procedures required to obtain a car broker license in your state.
Get your application from your state, review the application to make sure that you understand what is being requesting at each step. Call the state and ask detailed questions prior to submitting.
Fill out the application, recognising that the state must approve all applications and that a background check is also performed during the application process.
Submit the application.
Secure your car broker's license from your state. Recognise that there is usually an annual charge for the car broker license.
Tips and warnings
- Request a copy of an example of an approved application from your state.
- Ask the state what types of vehicles the license allows you to broker. For example, just because you have a license to broker cars, it does not mean that you can broker scooters and golf carts. Check your individual state for its policy on the types of vehicles that are allowed under your license.
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