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When purchasing an auto from a private party do you need the bill of sale notorized? In Alabama?
This is done through motor vehicles or the used vehicle and parts commission in each state. You have to have a location in most cases that is legal to operate a business such as that on, and a sign with sufficient height letters and also info on your hours of operation, phone number, etc. and above all you have to be bonded. The amount varies with each state. Also you and each salesperson have to have sales licenses which are issued by the same agencies and usually only cost a few bucks. Garage liability insurance to cover any cars you or your sales staff and customers will drive as well as the number of metal and paper dealer tags that you are going to use to drive cars while they are up for sale. Not sure about Tennessee, but just a few years ago Louisiana was 200 bucks for license, bond of 10,000 dollars and garage liability ran around 3000 a year for 3 people. Of course insurance rates varied with agent, etc. I worked managing a few lots myself which is why I was aware of the figures. California though for example was much higher on the bond and insurance. Tennessee should not be that bad though. You can probably find the agency in the blue pages of the phone book as well and call them for all the facts. Only takes a few days to get this all done and should be done as close to the beginning of the year as possible as most states issue the licenses for the year in January and even if you open a lot later in the year you still pay for a full year's licenses, etc.go to the DMV a show them some ID and there ya go
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