Obtain licenses and permits

Adhering to state laws is a requisite in establishing a business and continue to run its operations. As an auto dealer, you must obtain the required license from the Nevada Department of Motor Vehicles (DMV) to conduct the business of buying and selling cars. Here are the steps:

• Secure a Permanent Location for Your Business
• Submit Fingerprints of principal or corporate officers
• Settle the bond for Auto Dealers
• Acquire Your Proof of Liability Insurance
• Procure the Required Documents
• Mail Your Dealer License Application

Dealership licenses

Keep in mind that there are different types of dealership licenses:

• Dealer
• Distributor
• Lessor
• Manufacturer
• Rebuilder

Requirements

Be sure to know the range of service that you want to offer based on your skills and in line with your buy and sell cars business in Las Vegas and prepare the following requirements:

• Application for Business License (OBL237)
• Personal History Questionnaire (OBL242)
• DPS Civil Application Waiver (OBL 256)
• City or County  Business License
• Certificate of Incorporation and Corporate filing including the names of the officers that were submitting in filing your 
• Federal Employer Identification Number (FEIN) Registration
• Dealer Franchise Certification (OBL253) for New Vehicle Dealers.

Checklist

Other matters of importance that you have to check in acquiring a License are the following:

• Check and review the requirements for insurance at DMV’s official website
• Check and review the occupational and business licensing form
• You will be required to process a fee of $126 for your dealer license application
• Your business name shouldn’t be misleading (ie. avoid words that are misleading)
• Fingerprinting has to be done at your nearest law enforcement office or DMV for a fee of $38.25 for each listed principal on your application.
• Your auto dealer bond depends on your financial capacity in reference to your personal credit standing

Submit all of your required documents to any of the Nevada DMV licensing offices.

Check online

Being in the business of buying and selling a car for profit requires a good eye in looking for items of value and the knowledge to find the best place to source your items. Here are some of the places that you can check:

• Classified Ads 
• SellMyCar.com
• Craigslist Las Vegas
• eBay
• Car Auctions

Kelly Blue Book

Once you have spotted the right place to purchase cars for reselling, you can check Kelly Blue Book to get the market value of the vehicle you wish to buy.  This will give you a good idea for your baseline in bargaining with the seller. You might also want to check 2 or 3  online sources to verify the price range.

Checklist

In addition, here are some of the things that you have to keep in mind:

• Always check the car’s vehicle identification number (VIN) to verify the status. You don’t want to sell a stolen car.
• Have a trustworthy mechanic to check the overall condition of the car and make sure that you are getting the best deal. After all, you can use all possible defects that you can find in negotiating the price.
• Obtain a copy of the vehicle’s registration and title. Keep in mind that this “title” is required for the car’s registration and insurance. If you can’t obtain the title, be sure to verify that it is worth getting re-titled by checking CarFax to avoid any hassles by looking into its history.
• See to it that you read and understand other important factors that you need to check on this Guide to Buying a Used Car.

Check the engine

In the absence of a mechanic, ensure that you carry out the following routine check before making a purchase:

• Open the hood to look at the engine and hear how the car sounds after starting from a cold engine.
• Rev the engine about 5 to 6 times while checking the exhaust, oil levels, and color. Check the bottom of the car for leaks.
• Perform a test drive while you vary the speed and check the steering wheel, brakes, transmission, and other features including electronics.

Website features

Think about your website as your digital or virtual showroom to display everything that you have for your customers. In order to build credibility and attract potential clients, see to it that you add the following features in building your website to convert a prospecting client to become a satisfied customer: 

• Include a persuasive headline
• Add a form to capture leads (Call-to-action)
• Add Images that builds trust
• Include testimonials and reviews from clients
• Add a live chat support

Add-Ons

As an additional feature on your website to get your customers buy-ins, you can include the following:

• Add a facility to process online payments
• Add an SSL certificate to protect the credit card details of your client’s.
• Include important details (Year, make, model, VIN, color, mileage, equipment)
• Design your website to load images quickly and be mobile friendly

How to create your business website

You might want to check, “How to Create a Website for Your Business” to guide you in this process. Make sure to use professional photos in showcasing the cars in your inventory. In case you aren’t technically inclined in creating a website, you can always employ the services of a company that does everything that you need that covers photography, website design, and online marketing like Bizsite.

Given that you are purchasing a second-hand car from different possible sources, you want to ensure that you do everything to restore the car to its optimum condition and turn it into something profitable. You can hire a professional to do the following or you can also do-it-yourself to lessen your cost:

• Get the car fixed of any issues by hiring a mechanic and have the oil, radiator, and wiper fluid changed.
• Vacuum the interiors, wash and rinse the exteriors, and wipe it clean.
• Improve auto interiors including headliners, seat inserts, seat covers, and leather kits
• Plastic, leather, Vinyl repairs including steering wheel, dash, seat and door panel, armrests and center console
• Include add-on features such as a sat-nav, Bluetooth, and features that don’t cost a fortune.

You can check Ian’s auto interiors for the range of services that your business might need.

Use different media outlets

Now that you have everything set from getting your license, to doing all the repairs, and buying your cars for display on your website, it is time for you to get the word out and start making profits. You can employ the traditional way of marketing your business through different media outlets such as:

• BBBVegas
• 360°Vegas Media
• Newspapers
• Magazines
• And other advertisement Channels

Search Engine Optimization

In addition, you may also maximize the use of the internet by using SEO (Search engine optimization) techniques, paid online advertising, and promoting your website in different social media channels:

• Register your Las Vegas business on Google
• Sell on eBay
• Promote on Instagram
• Post on Pinterest
• Advertise on Facebook

IN SUMMARY:

Here are the five (5) simple steps on “How to start a buy and sell cars business in Las Vegas”:

• Get a License
• Purchase Cars for Selling
• Setup Your Website
• Maximize Your Profits
• Promote Your Busy and Sell Cars Business