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Can I Buy A Vehicle For My Own Use, Or Can I Only Purchase A Vehicle At Auction For Resale?

This comes to everyone’s mind, sooner or later, especially when you just scored a "killer deal" like on her dream car, a Ford Mustang 5.0 GTS… all because you did your research and knew it was available. After all, you even upped your odds by discovering the overall profile of the competing bidders at this particular auction. You may be wondering if this could be more than just getting your own "great deals, right? Right. It’s not that simple, however.

There is what’s called, "Curbstoning Laws" that prohibit"consumers from selling more than a certain number of vehicles without a dealers' license in a calendar year. Anything over this number will require you to obtain a dealers’ license. These laws will vary depending on your State. A typical number of vehicles allowed per year is around 3 to 5. Also, if you want to purchase vehicles for your personal use, and your family's personal use, you don't need a dealer's license.

Tip: There are some great reseller auctions available for licensed dealers, if you think this might be something you want to do. You may find it to be a cool hobby. Some people take this route, buying and reselling auction vehicles, to finance a hobby, or passion… a way of covering expenses. Others may wish to make it a profitable business.

 

 
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