How do I start my own used car lot?

car info gov image

Tion

I live in CA. I want to start a small used car business specialized in cars under $3k. What's the best way to go about this task? I know that I can go to public auctions, but how do I go about getting a dealers license?

Answer
basically, a $176 application fee, a background check with finger prints, and an inspection of the "established place of business", a $50,000 surety bond, a zoning inspection for the property, etc

and then you have the normal business expenses as far as liability insurance, electricity, water, taxes, payroll, workmans comp, etc

here is the link to california auto dealer license info:
http://www.dmv.ca.gov/vehindustry/ol/dealer.htm

here is the checklist for you to work through to get get your license :
http://apps.dmv.ca.gov/forms/ol/ol248a.pdf

How can a company car be a deduction?

Dennis

I've been reading about it but I need just a straightly detailed answer. I work at a small corporation. If my boss buys a car for me to use from my house to work and vice versa, can he write it off and not pay anything on it?

Answer
the business would have to buy it for you, the boss can not from his personal finances, if he uses the company to buy you a car then he can get a mileage deduction, check irs.gov site for better information. there cheak out the links page for more info. hope i helped

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