Anyone know whats required in order to become a salvage motorcycle dealer, in NJ? Need to know how to become registered to be able to purchase wrecked motorcycles from Insurance companys, and then how to get on a "list" so that they know that I'm a qualified 'SALVAGE' Dealer. Or does anyone have a connection in NJ that would be willing to help me out. Thanks.
I don't know about in NJ, but in MI it's a lot of work and money to get everything up and running. Much easier to have someone find you a bike and buy it from them
Not sure of NJ, but it's probably similar to other states: If you have an office space with parking lots, etc. and can open a 2nd business in it just to have a mailing address, that's the easiest. Otherwise: rent on a business location Untilities there Insurance and bonded dealers license Classes and annual continuing education City/county annual business license fees If you're wanting to buy a few bikes a year for you and your friends, it's not worth it.
My employer/boss/good friends, just got their OHIO dealers/salvage license. I'm actually sitting here watching several Virtual bidding lots on COPART. I've got the green light to search and buy what I think is a profitable buy. We dabbled in this over the winter before they got their actual Dealers' license, and was quite successful. I can only assume that the requirements are similar from state to state. In Ohio, your property has to be 55,000 sq/ft I believe. Fenced in yard with semi-opaque netting or vinyl slats attached to the fence. A county inspector must come and see the property. I had to take several pics of the property, the fixed sign, the office with a working counter, etc...and send them to the state. My employer already had their primary business setup of 35yrs, so this was easier for them to do. Just alot of paperwork-emails, faxes, phone calls, tax papers...and then getting setup with the online auction sites themselves, is a job in itself.
i understand, thanks for the info guys. seems copart, i cant even buy unless i am a 'broker'. anyone want to hook me up with a few bikes?