GDN secured. Now what?
GDN secured. Now what? Hey everyone, some people might recall a thread I started way back about a Texas Auto Whoelsale License/GDN. Well, I talked to my boss, the owner of my company, and he liek the idea of having one - so he sent me off to do it. After some research, a few thousand bucks, 90 days later I got an email/fax from the TX DOT with our GDN Dealer License number.
I created an entire new company, tax-id, bond, lease, lot, etc...The whole nine. Well, the problem now is, wtf do I do with it? Ha, it seems to be a fairly "good" problem to have, but I want to maximize the utility of this license.
The parent company has numerous owned and financed vehicles, everything from Ford Focuses to Bentleys. I know I want to go to a dealer auction (as I am the Administrator and authorized agent) and get me a 2008 Harley Edition F250 PS 4x4, maybe even a wrecked one at the insurance auction. But going back to my boss' interest, what does having a GDN dealer license do as far as price, taxes, dealer fees, etc...for:
1. Buying new vehicles from a manufacuter?
2. Buying new vehicles from a dealership?
3. Buying used or trade-in vehicles from a dealership?
4. How do you gain access to dealer auctions? And who are they?
5. Can you transfer vehicles that are still under bank loan liens to this entity?
As far as making money, I assume I could buy a car/truck, and sell it to the public for a marginal mark-up (since the great folks of LS1Tech have been so helpful to me with my car trouble shooting) - and make a profit for the new company that way.
Any thoughts and pointers are GREATLY appreciated, and if you are in the mark-up for a car with a $500-$1,000 mark-up (above dealer auction price) maybe I can help, and be helped at the same time. Thanks in advance guys.
I created an entire new company, tax-id, bond, lease, lot, etc...The whole nine. Well, the problem now is, wtf do I do with it? Ha, it seems to be a fairly "good" problem to have, but I want to maximize the utility of this license.
The parent company has numerous owned and financed vehicles, everything from Ford Focuses to Bentleys. I know I want to go to a dealer auction (as I am the Administrator and authorized agent) and get me a 2008 Harley Edition F250 PS 4x4, maybe even a wrecked one at the insurance auction. But going back to my boss' interest, what does having a GDN dealer license do as far as price, taxes, dealer fees, etc...for:
1. Buying new vehicles from a manufacuter?
2. Buying new vehicles from a dealership?
3. Buying used or trade-in vehicles from a dealership?
4. How do you gain access to dealer auctions? And who are they?
5. Can you transfer vehicles that are still under bank loan liens to this entity?
As far as making money, I assume I could buy a car/truck, and sell it to the public for a marginal mark-up (since the great folks of LS1Tech have been so helpful to me with my car trouble shooting) - and make a profit for the new company that way.
Any thoughts and pointers are GREATLY appreciated, and if you are in the mark-up for a car with a $500-$1,000 mark-up (above dealer auction price) maybe I can help, and be helped at the same time. Thanks in advance guys.
Well if you have just a Dealer License all you can do is sell to other dealerships like Carmax and places like that. You cannot sell a car to an individual unless you have a retail license. You will not be able to title the car to them.
You're confusing this with a wholesale license.
