Frequently Asked Questions
You will be selling cars with a retail license.
One of the main benefits of our program is that you do not need a car lot in order to sell cars at retail. This is a work from home opportunity so it is perfectly fine if you decide to only sell cars online.
There will not be any additional or transaction fees for each car that you sell to the public. As a authorized agent of a dealership, you will be able to complete each transaction yourself with the documentation that you would be provided with.
This is a co-op dealer program. Therefore, you would be a member of someone else's dealership. However, as a authorized member, you will be permitted to purchase cars at dealer auctions and sell them to the retail buyer.
You would be able to attend any dealer auction nationwide. You will have immediate access to all of the major auctions such as Manhiem, Adesa and Carmax. If there is an auction outside of the Auction Access network, we will be able to enroll you in those dealer auctions as well.
You will be able to buy and sell cars nationwide. The dealer license that you will be provided with will be eligible in all 50 states.
We can you your account set up so that you are able to start buying and selling cars the same day of sign up.
As a authorized representative of a dealership, you will be able to sell unlimited cars.
Yes, you will be able to pick up the titles for all the cars that you purchase at the auction.
Yes, the bond and insurance is covered in the subscription fee.
The bond and insurance covers general liability.
No you will not. The dealership is set up as a Limited Liability Company so each individual member is responsible for their own negligent act.
The insurance that we provide will not cover the dealer plates. You will need to have a personal insurance policy in order to get dealer plates.
The registration of the dealer plates will be good for one year.
Yes, you can have other people use the plate to transport cars for you.
Yes, definitely you will have to. You are in business and you need to pay income taxes on your profits. All members are treated as independent contractors and you will receive from the Co-op used car dealership 1099 which you need to file your income tax form 1040. You simply keep track of your income and expenses and hand everything over to an accountant who will prepare your income tax returns. Members usually report their income on a Schedule C, which is attached to their 1040 Income Tax Form.