I'd like to learn the basics.
I am particularly interested in pricing and licensing issues when moving a medium high volume.
What are the fees? Basic process? Pitfalls?
Copart appears to be asking bidders for a Business License, not a Dealer's License. Is this correct?
What does it take to become a broker?
All I know is that North Carolina doesn't require any sort of license for most auctions.
Pitfalls are many, but the main would be to go actually put eyes on any vehicle you might want to buy. The people taking the pictures don't tend to invest much effort to capturing much beyond Craigslist quality.
In reply to Brett_Murphy:
Good point. I intend to lay eyes on stuff.
SVreX wrote: I am particularly interested in pricing and licensing issues when moving a medium high volume.
Are you talking about running a dealership? If so, a big problem may be getting a broker license since you will need it.
In reply to Mr_Clutch42:
No.
I am talking about flipping and rebuilding cars at a high enough quantity to warrant needing a dealer's license. I don't mind getting a license.
But I am determining whether I need a Dealer's license, a Used Car Dealer's license, a Rebuilder's license, or a Business license. I am doing other stuff that also impacts the decision.
I just want to understand Copart's system (among a lot of other things I am working on).
It appears that when Copart says. "License", they mean a Business license for tax collection purposes (not a Car Dealer's license). That's a pretty low bar.
But they also use the term "Broker". I don't think that means "Licensed Car Broker in your state", I think that means "Business with a Business License registered with our website as a Copart Broker, and authorized to make transactions on our site on behalf of others".
I understand the regulations per my state for the various things I will be doing. I am trying to understand Copart's system.
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