Hello everyone! I am currently working in the auto industry I have held several positions at the dealer I have worked for the last seven years and feel that it is now time for me to go out on my own. I have done extensive research and have my business plan underway. There are a few different areas of the business that I have some questions on so if there is anyone here that has experience running or owning a dealership your advice would be greatly appreciated!
To give you some quick background I plan on opening on a very small scale, I want to deal in cars that I can retail for between $5000 and $10000. I plan on only buying a handful of cars to start (6-10) moving them as quickly as possible and replenishing as I go. I will have a store front (because it is required in the state of NY) but plan on using an internet based sales approach to target customers. Please feel free to comment on my general plan as well. Thanks again!
1) Insurance??? What can I expected for cost? What type of coverage do I have to carry?
2) Paperwork? Besides an MV-50 and bill of sale what else is a must in terms of paperwork? Do I always have to collect sales tax? (Only people familiar with operating in NY I guess will be able to answer these)
3) Is there anyone out there selling used cars primarily on-line? If so any advice would be a huge help!!
Thank you for any advice you can give!!!!!
