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Old 06-05-2012, 09:27 PM  
L-Pink
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Join Date: Mar 2005
Location: Florida/Kentucky
Posts: 39,151
Quote:
Originally Posted by onwebcam View Post
$42,000 isn't high-end. $420,000 is. You bought a low to mid wholesale. If you decide to try this out for extra cash you will need to check into your state laws as to how many cars you are able to sell in a year without a dealer license. That's right. They figure normal people don't buy and sell cars like I do so they put limits. 5 in my state. I trade on average once every month or two between multiple vehicles. Pretty much because I get bored easily with them. Anyway the only way around this is open titles and risking getting caught with wrong tags. Otherwise you will have to setup as a dealer or buy into a dealer license. There are ways of doing that.
And normal insurance only covers cars registered in your name. Registering requires sales tax unless you have a dealers license. So there goes around 6 % in most cases.

Still haven't told us type of car ...

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