How Much is the Dealer License?
One of the most common questions is "How Much Does a Dealer License Cost?"
Before you start any new business you need to know what expenses you can expect to incur. Details are taught in our class, but in case your curious, here are the general fees to expect before you get your license in your hand:
Class Fee: (see class calendar)
DMV Application Fee $151
Dealer Plate Fee $50 average (Includes County Fees)
DMV Test Fee: $16
Fingerprinting Fee: $50 on average
Fictitious Name Statement Fee from County Recorder: $30 on average, plus a publication fee, which is another $75 on average.
Business Bank Account Fee: FREE at most banks
City Business License Fee: $100 per year average (some cities charge more, some charge less).
State Seller's Permit Fee: FREE
Bond Fee: $800 to $1,500 per year (profit from one car pays for it!)
Dealer Auction Registration Fee: FREE!
Place of Business: FREE if home office or existing business. If you choose to lease a place of business, small offices that qualify typically start at $299 per month. (The DMV has no minimum size requirement for a place of business). Even if you lease an office, profit from one car pays for several months of rent!
LOW ON CASH?
Getting licensed is cheap enough, but if you want to get it cheaper, there are valuable tips in our "Low Overhead = High Profits" article.
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