Get your Mississippi Wholesale auto dealer license..

[Famous1]

cost: license $100/yr and $395 for a one time 8hr "used automobile dealers" seminar

1st thing you need to do is establish a business address in Mississippi.. (UPS store works). Next, call the Mississippi dept. of revenue (601-923-7700) and request an Automobile Dealers application packet. I had mine sent to my home address , took about a week for it to arrive.
In the meantime you need to go to https://tap.dor.ms.gov/_/#1 and register your business to pay taxes in Ms. (hint) if you register as a sole proprietorship you wont need an E.I.N. When the packet arrives follow the instructions within and you will soon be a licensed wholesale auto dealer in Ms. ..
With this license you can attend, buy, sell or whatever at any dealer auction in the U.S.**** you can't sell cars retail and you can only have two cars in your inventory at a time...supposedly..

 

[Hey Julian!]

cost: license $100/yr and $395 for a one time 8hr "used automobile dealers" seminar

1st thing you need to do is establish a business address in Mississippi.. (UPS store works). Next, call the Mississippi dept. of revenue (601-923-7700) and request an Automobile Dealers application packet. I had mine sent to my home address , took about a week for it to arrive.
In the meantime you need to go to https://tap.dor.ms.gov/_/#1 and register your business to pay taxes in Ms. (hint) if you register as a sole proprietorship you wont need an E.I.N. When the packet arrives follow the instructions within and you will soon be a licensed wholesale auto dealer in Ms. ..
With this license you can attend, buy, sell or whatever at any dealer auction in the U.S.**** you can't sell cars retail and you can only have two cars in your inventory at a time...supposedly..

What's the point if you can't sell retail? I'd have to pay $100 a year to maintain license when I can't even sell retail? Who are you selling to then OP? I need more info.

 

[717jet]

Can I have the application sent to my out of state address or does the application have to be sent to a PO Box in Ms.?

Also,with a Wholesale license, can i only sell to the public or only other dealers?

 

[doggish_098]

What's the point if you can't sell retail? I'd have to pay $100 a year to maintain license when I can't even sell retail? Who are you selling to then OP? I need more info.

people will pay you to take them to dealers auctions

 

[34real]

Can I have the application sent to my out of state address or does the application have to be sent to a PO Box in Ms.?

This is what I want to know and thank u.

 

[Famous1]

Can I have the application sent to my out of state address or does the application have to be sent to a PO Box in Ms.?

Also,with a Wholesale license, can i only sell to the public or only other dealers?

yes....

 

[BDR]

Nice side hustle

 

[Famous1]

Can I have the application sent to my out of state address or does the application have to be sent to a PO Box in Ms.?

Also,with a Wholesale license, can i only sell to the public or only other dealers?

edit... you can have the packet sent to your home address. You are only supposed to sell to other dealers...

p.m. sent

 

[Incarcer8dagain]

2015 theres a paper trail to every car you buy. Just find a dealer who will let u piggy back off his license and toss him a little unearned cash.

 

[MrBee]

Nice life hack...

 

[Coldchi]

2015 theres a paper trail to every car you buy. Just find a dealer who will let u piggy back off his license and toss him a little unearned cash.

 

[34real]

1st thing you need to do is establish a business address in Mississippi.. (UPS store works

Can you elaborate on this more? UPS store works?


Thanks

 

[Famous1]

Can you elaborate on this more? UPS store works?


Thanks

Rent a p.o. box from any UPS store location in Mississippi and use the address of the box as your business address.

 

[ViCiouS]

thanks

 

[Z MONSTER]

Bump. This is an epic thread. I've been doing this off and on here in NC for the past 7 years.

 

[colojoe]

you can't sell cars retail and you can only have two cars in your inventory at a time...supposedly..

What does can't sell cars retail mean? Does it mean you just can't sell cars on a lot or as a dealer, or does it mean I can't sell to the public, only other dealers?

Thanks. This is interesting.

 

[colojoe]

Just looked on the state website at the administrative code for "wholesale dealers". http://www.dor.ms.gov/info/rules/motorvehiclespagetwo.html

It seems like the restrictions that are put on a wholesale dealer might only apply in the state of Mississippi. I'm definitely not looking to purchaser or sell anything in the state of Mississippi. I just want access to my local dealer auctions and auctions throughout the country and the ability to sell to the public.

Anybody got any real experience with this?

 

[BDR]

Bump. This is an epic thread. I've been doing this off and on here in NC for the past 7 years.

So bless the folk with some good info

 

[Famous1]

Just looked on the state website at the administrative code for "wholesale dealers". http://www.dor.ms.gov/info/rules/motorvehiclespagetwo.html

It seems like the restrictions that are put on a wholesale dealer might only apply in the state of Mississippi. I'm definitely not looking to purchaser or sell anything in the state of Mississippi. I just want access to my local dealer auctions and auctions throughout the country and the ability to sell to the public.

Anybody got any real experience with this?

Get this license and you can access any dealer auction in the U.S..... Insurance auctions as well..ability to sell to the public??? Well you will have to get your full retail License.

Or you can get a retail dealer to " bill it out" for you. This simply means that he handles the retail end of the sale in his dealership's name and you pay him a small fee.*****This is illegal and you will lose your license "IF" you get caught.
I know a guy that knows a guy that would charge me 150 per car if I ever decided to something like that.

 

[ViCiouS]

Get this license and you can access any dealer auction in the U.S..... Insurance auctions as well..

after I get this - what are some good resources to find insurance and dealer auctions?

 

[prospect]

Good looks on the info.

Sent from my SM-N900T using Tapatalk

 

[Famous1]

after I get this - what are some good resources to find insurance and dealer auctions?

They give you a free one year membership to this. https://m.iaai.com/Home.aspx

"Insurance Auto Auctions "....

 

[ViCiouS]

thanks

 

[mailboxpimp]

cost: license $100/yr and $395 for a one time 8hr "used automobile dealers" seminar

1st thing you need to do is establish a business address in Mississippi.. (UPS store works). Next, call the Mississippi dept. of revenue (601-923-7700) and request an Automobile Dealers application packet. I had mine sent to my home address , took about a week for it to arrive.
In the meantime you need to go to https://tap.dor.ms.gov/_/#1 and register your business to pay taxes in Ms. (hint) if you register as a sole proprietorship you wont need an E.I.N. When the packet arrives follow the instructions within and you will soon be a licensed wholesale auto dealer in Ms. ..
With this license you can attend, buy, sell or whatever at any dealer auction in the U.S.**** you can't sell cars retail and you can only have two cars in your inventory at a time...supposedly..

you dnt have to have any of this:
Must establish a place of business, including an office, a display lot, and customer parking.

Must show proof of insurance, with a minimum of $250,000 property damage coverage, $250,000 per person, and $500,000 per incident; automotive recycling dealers need a commercial general liability policy in the same amounts.

Must have a business name using the terms "used cars," "auto sales," or similar; only wholesalers can use the word "wholesale," and first-time applicants can't use "consignment" or "broker."

All sales personnel must have obtained a salesperson's license.

Must have a business sign showing the exact business name included on the application, with letters at least 9 inches in height installed upon submitting the application.

Must have clear separation of display/parking lots and office facilities.

May be required to provide a $100,000 or more bond, or show assets equaling the same amount or more.

 

[Famous1]

you dnt have to have any of this:
Must establish a place of business, including an office, a display lot, and customer parking.

Must show proof of insurance, with a minimum of $250,000 property damage coverage, $250,000 per person, and $500,000 per incident; automotive recycling dealers need a commercial general liability policy in the same amounts.

Must have a business name using the terms "used cars," "auto sales," or similar; only wholesalers can use the word "wholesale," and first-time applicants can't use "consignment" or "broker."

All sales personnel must have obtained a salesperson's license.

Must have a business sign showing the exact business name included on the application, with letters at least 9 inches in height installed upon submitting the application.

Must have clear separation of display/parking lots and office facilities.

May be required to provide a $100,000 or more bond, or show assets equaling the same amount or more.

None of that is required for a "wholesale only" license.

 

[dwnsouth]

so knowing the rules for my state of Louisiana it seems the loophole for Mississippi allows you to buy and sell at auctions only.

meaning you catch a deal at one auction and sell it at another

you can make money doing this if you are careful.

otherwise you can not sell to consumers including yourself. you dont have a salesman's license. you dont have a dealers license. you dont have a location where cars are located. as a wholesaler you really dont need one. your cars are not for the public.

 

[dwnsouth]

you dnt have to have any of this:
Must establish a place of business, including an office, a display lot, and customer parking.

Must show proof of insurance, with a minimum of $250,000 property damage coverage, $250,000 per person, and $500,000 per incident; automotive recycling dealers need a commercial general liability policy in the same amounts.

Must have a business name using the terms "used cars," "auto sales," or similar; only wholesalers can use the word "wholesale," and first-time applicants can't use "consignment" or "broker."

All sales personnel must have obtained a salesperson's license.

Must have a business sign showing the exact business name included on the application, with letters at least 9 inches in height installed upon submitting the application.

Must have clear separation of display/parking lots and office facilities.

May be required to provide a $100,000 or more bond, or show assets equaling the same amount or more.

this is pretty close to what you need in the state of Louisiana. the sign on the building needs to be 4ft by 5 ft the last i checked. you also need a land line at the location. no cell phones for your main number. you also need to meet zoning requirements based upon the address. being the in city limits means concrete, etc. Outside the limits you can get away with one handicap parking spot and one other spot. the rest can be grass, dirt, etc.

 

[34real]

so knowing the rules for my state of Louisiana it seems the loophole for Mississippi allows you to buy and sell at auctions only.

meaning you catch a deal at one auction and sell it at another

you can make money doing this if you are careful.

otherwise you can not sell to consumers including yourself. you dont have a salesman's license. you dont have a dealers license. you dont have a location where cars are located. as a wholesaler you really dont need one. your cars are not for the public.

Can you take it off of the lot?to do all of that would be pointless if you couldn't

 

[dwnsouth]

Can you take it off of the lot?to do all of that would be pointless if you couldn't

yes you can. you can transport it (most likely on a trailer only). since i have yet to hear anyone say anything about wholesaler plates or insurance, that means you are not driving the car anywhere.

as a dealer you have insurance and a dealer plate(s). you are covered under any car you own as a business as long as you have a copy of the insurance and registration with you along with the licence plate visible from the back of the car. im sure you could get insurance as a wholeseller but again...no one mentioned it

 

[jagu]

Just to point this out. I Georgia, you must have good credit to be able to obtain the $35000 bond. It only cost me $625 for 2 years and for someone with bad credit it can cost $5k+. Just something to consider.

 

[mailboxpimp]

Can you elaborate on this more? UPS store works?


Thanks

Rent a p.o. box from any UPS store location in Mississippi and use the address of the box as your business address.

just a side bar....

you dont OWN your address.... long story short, its a location coordinate assigned to a specific location. It belongs to the state / govt. Te UPS's store address is the true address so to speak in terms of ownership. Has a lot to do with commercial law/ law of the sea / business law.

the post office owns your p.o box. they are a govt agency. USP is a corporation..... one enables you to remain private & the other requires you to operate in public. you can conduct business in private with the public tho... sounds crazy but the shit matters. Its akain to getting a letter to the judge personally.... not gonna happen. the clerk (public) brings it to the judge or makes him aware of it in his chambers (private).

 

[mailboxpimp]

so knowing the rules for my state of Louisiana it seems the loophole for Mississippi allows you to buy and sell at auctions only.

meaning you catch a deal at one auction and sell it at another

you can make money doing this if you are careful.

otherwise you can not sell to consumers including yourself. you dont have a salesman's license. you dont have a dealers license. you dont have a location where cars are located. as a wholesaler you really dont need one. your cars are not for the public.

damn wtf..... the rules to this shit is crazy!

 

[kew]

Has anyone from GA completed this process an obtain their MS wholesale license? If so inbox me... Im down to pay for someone to do this process for me.

 

[Africanama]

I wonder if I can scoop some cars and ship them overseas?

 

[jagu]

I wonder if I can scoop some cars and ship them overseas?

Why wonder about it? It's very possible.