Call Us (800) 773-1663 ☰ ˟
Logo
Call Us (800) 773-1663
  • HOME
  • SURETY BONDS
  • LICENSE & PERMIT BONDS
    • Appraiser Bond
    • Auto Dealer Bonds
    • Auction Bond
    • Broker Bond
    • Car Wash Bond
    • Collection Agency Bond
    • Contractor License Bond
    • DMEPOS Bond
    • Health Care Professional Bond
    • Health Club Bond
    • Hunting/Fishing License Sales Bond
    • Insurance Broker Bond
    • License Bond
    • License & Permit Bonds
    • Lottery Bond
    • Medicaid Bond
    • Medical Marijuana Bond
    • Mortgage Broker Bond
    • Notary Bond
    • Patient Trust Bond
    • Payday Loan Bond
    • Preneed Funeral Bond
    • Sign License Bond
    • Small Loan License Bond
    • Surplus Lines Broker Bond
    • Tax Collector Bond
    • Telemarketing Bond
    • Title Agency Bond
    • Transmitter Bond
    • Used Car Dealer Bond
  • CONTRACT BONDS
    • Contract Bonds
    • Bid Bond
    • Maintenance Bond
    • Payment Bond
    • Performance Bond
    • Site Improvement Bond
    • Sub Division Bond
    • Supply Bond
  • COURT BONDS
    • Court Bonds
    • Appeal Bond
    • Custodian Bond
    • Executor Bond
  • MISC BONDS
    • Fidelity Bond
    • Business Services Bond
    • Janitorial Bond
  • RESOURCES
    • Bond Types
    • Glossary
  • COMPANY
    • About Us
    • Testimonials
    • Privacy Policy
  • BLOG
  • CONTACT
    • Contact Us
    • Refer Us
Home > Blog > How to Start a New or Used Car Dealership Business in Los Angeles
THURSDAY, APRIL 22, 2021

How to Start a New or Used Car Dealership Business in Los Angeles

Cars parked at a dealership

The used car dealership industry is worth more than $123 billion and enjoys a lucrative market situation.

This business is perfect for those interested in selling cars without buying a large auto manufacturer franchise.

Most used car dealerships are owned by independent individuals, and they stock various vehicle makes, models, prices, and conditions.

The last half of the decade saw the industry having steady sales, which can be attributed to a more robust economy, decreased gas prices, and higher consumer demand. Therefore, now may be the best time to start an auto dealership in Los Angeles.

Here’s how:

Put Together A Solid Business Plan:

Having a clear plan can help you make achievable goals for the business. Keep it brief but ensure that it covers everything from your executive summary to your plan to acquire customers.

Submit Your Application For A California Car Dealer License:

Car dealerships need to apply for car dealer licenses before they can even start operating. As the owner, you’ll need to apply for either a new car dealer license or a used car dealer license, depending on whether you want to sell both new and used cars or used cars only.

Before you fill these forms, inspect the California DMV’s New Car Dealer Application Checklist to understand the different obligations that apply to you.

To save time, you can find the California DMV packet relevant to your specific license from their website.

A man and woman holding the Dealer Application Checklist

Pay The Process Fees:

There are a number of fees to be paid to process and approve your applications: auto broker endorsement, dealer plate, motorcycle plate, new motor vehicle board, family support program, and other relevant expenses.

Participate In The Dealer Education Program:

The Dealer Education Program is a requirement for getting your license as a used car or wholesale-only dealer.

Once you complete the program and take the written examination, you’ll be given a completion certificate.

Under Section 11704 of the California Vehicle Code, all used car and wholesale car dealers are obligated to pass the Used Dealer written test held at the California DMV.

Apply For A California Auto Dealer Bond:

All car dealers in California are obligated to apply for a surety bond to obtain their official license from the DMV.

Auto dealer bonds provide a financial guarantee by the applicant and gives surety to the California DMV. These bonds cover violations or fraud if the principal is unable to pay for any reason.

To obtain a used car dealer bond in Los Angeles, all you have to do is get in touch with the experts at SuretyEZ.

Our simple application process allows you to obtain the necessary auto dealer bonds quickly. Visit our website to learn more or apply for a bond here.

 

Posted 12:26 PM

Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2019

  • surety bonds(1)

View Mobile Version
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Carrier
Home| Apply For A Bond| Blog| About Us| Contact
3700 WILSHIRE BLVD., | STE 450 | LOS ANGELES, CA 90010
Ph: (800) 773-1663 | Fx: (213) 736-6578 | E: JULLIET@SOCIETYLA.COM
Social Social Social Social
Logo

Powered by Insurance Website Builder