How can I buy cars at auction in Florida?
To buy cars at an auction in Florida, you don’t need a specific license type, but you do need to be a licensed motor vehicle dealer. Basically, you can choose from any of the available license types to qualify for car auction attendance.
Who owns South Florida Auto Auction?
SFLAA has been in business for over 10 years and is run by auto auction industry veteran Rhonda Grable. According to auction general manager, Grable, “Over the past 10 years we have focused on building the strongest dealer auction sale in South Florida, now running over 1,000 per week.
How much does a car auction license cost in Florida?
Required Fees
| License Type | Original License Fee | Annual Renewal Fee – Primary Location* |
|---|---|---|
| Motor Vehicle Auction (VA) | $300 | $75 |
| Salvage Motor Vehicle Dealer (SD) | $300 | $75 |
| Mobile Home Dealer (DH) | $340 | $140 |
| Mobile Home Broker (BH) | $340 | $140 |
How do dealers buy cars at auction?
The other way dealers get their used car inventory is through trade-ins. Most new vehicle buyers trade-in their old cars, so dealers always have a consistent flow of inventory. Dealers will usually buy just about any trade-in. The ones they don’t think they can sell on their lots, they sell at open auctions.
Can you make money buying cars at auctions?
The short answer is, “absolutely”. Yes, there are auctions you do not need a Dealer License to participate in (anyone can go). And yes, you can buy cars at below market prices and resell them for profits in the $500 to $4,000 range.
How much do cars sell for at auctions?
If you purchase a car at an informal auction, you will find many vehicles with starting prices as low as $300. Typically, nothing sells for much more than $3,500.
Why would a new car be sold at auction?
Why do dealerships buy cars at an auction? Dealers head to private car auctions to get quality vehicles at a reasonable price. They can purchase several vehicles that suit their lot with one trip which is cost and time effective.
How do you obtain an auto auction license in Florida?
BEFORE you can apply for a Florida car dealer license, you must complete each of the following: Have a compliance examiner from your business’ local FL Division of Motorist Services regional office inspect and approve your dealership location. Enroll in a licensed Florida dealer training program.
Should you buy a car at an auction?
Though, federal auto auctions are pretty clear cut in terms of their restrictions. Any licensed driver at least eighteen years of age can purchase a car at a federal auto auction. Licensed dealers, though, can generally avoid sales tax when buying at public auctions.
Should I buy a car at an auto auction?
An auto auction license is not necessary for buying a car at an auction. Generally there are two types of auto auctions, dealer only auctions and public auctions. In order to purchase a car at a dealer only auction, a person needs to be a licensed dealer.
What is Copart auto auctions?
What is Copart Auto Auctions? An industry leader in used and salvage car auctions , Copart’s exclusive online platform makes it easy for Members to search, bid and win the vehicles they are looking for.