How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 114099
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
10285032
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

Texas & Florida Dealer licenses question When getting a

This answer was rated:

Texas & Florida Dealer licenses questionWhen getting a dealers license to purchase and sell vehicle, what is the most relaiable source to identify what types of vehicles are being sold and prices in a given area and / or state?
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Edmunds or Blue Book or NADA are the best sources for dealers as would be "cars.com" which would let you see pricing in specific cities within a state as you can search cars and prices by zip code.
Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page , as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.
Customer: replied 4 months ago.
Is there a way to know what types of vehicle are commonly sold in a particle area, city, or town?
Customer: replied 4 months ago.
Also.. in order to bid at government auctions, i.e. DEA, US Marshal, US Treasury etc., what is required? is there a special thing that needs to be done in order to bid at those type of auctions?
Thank you for your reply.
Really there are no references that we know of that would allow you to search real time market analysis of a particular market to see what the hot cars are.
In order to bid in government auctions you will need the cash to make the purchases, since those auctions are open to anyone and you do not have to be a dealer to buy in those auctions.
Customer: replied 4 months ago.
thank you for that!..Also, what type of insurance is needed as a dealer?... and would the requirement be different for different states?
Thank you for your reply.
Actually, no insurance is necessary, but a dealer should have business liability insurance generally up to about $3M-$5M in coverage and you also need insurance covering the vehicles on your lot from damage. Your insurance broker can put a policy together for that.
Law Educator, Esq. and 5 other Business Law Specialists are ready to help you
Customer: replied 3 months ago.
According to the application I will need a Surety Bond. Are these surety bond companies competative or, are they genrally the same price to purchase?

Thank you for your reply.

They are only slightly competitive, but for the most part their prices will be very close.

Customer: replied 3 months ago.
Can any insurance company(for example, my car insurance company) offer surety bonds?What companies are reliable?
Not all insurance companies offer bonds. You need to contact a commercial insurer. As far as reliable companies, we cannot make any comments on that either.