Is it legal to sell off a used car dealer license??

Question

Hello! I have a question that needs to be answered. I'm real interested in starting my own business and I dont have alot of money. I went on to craigslist in my state and typed in Dealer License and there's listings for people selling their licenses. I never called or tried to find out more because I feel like its a scam. So many people has been burned on craigslist. So my main question is it legal for people to sell off the license or is this a scam. Thanks!!

Answer 1

I do not know about the laws in the state you are in.  I know that here where I live, the DMV under the Dept. of Transportation regulates dealers, and they alone have the authority to issue dealer's licenses.  Your best bet is to check the website for the DMV in your state (if they do not have oversight of dealers, just go to your state's website to determine which agency does) and determine the requirments for having a dealer license.  Most likely you will need to be insured, bonded, and have a location to conduct business, as well as complete some preliminary education.

good luck