Discuss Taking Inventory?? in the Vehicle Sales and Marketing forum at Car Dealer Forums; I am new to the dealership business, as you will find out quickly. I've taken ...
I am new to the dealership business, as you will find out quickly. I've taken the classes, passed the licensing test, passed inspections, and have studied about 30+ hours of legal ways to sell a car and stay out of trouble. There is SOOOO much information on the California DMV website, and all over the internet about selling cars, BUT I'm noticing a huge lack of information about buying cars.
This is going to sound dumb, but I can't find the information ANYWHERE;
When you're buying a car for your inventory, do you put your dealership name on the title, and take it to the DMV just as you would with a regular purchase? or is there some magic form like as if you're selling the car? or do I just hold on to the title until I sell it?
Obviously there has to be some paper trail to prevent fees from piling up, and prevent the previous owner from claiming it was stolen, I'm just not sure what it is.
I want to add that I know you put your dealer information at the bottom of the title, but what I'm curious about is do I need to submit anything else, or is that it?
Any help you can give would be greatly appreciated.
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Last edited by NewGuy; 03-01-2016 at 04:41 PM.
Reason: Added information about question
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