FAQs

Do I have to be a resident of the State of Indiana?

No, you do not have to be an Indiana resident. You can live anywhere in the United States. By having an office in our facilities, you’ll have the physical business address needed to be granted a license. Our facilities comply with the Indiana Secretary of State physical requirements for having and maintaining a wholesale dealer’s license.

How long does it take to apply for a license in Indiana?

From the time we submit your application to the Secretary of State it takes 21 business days to process your application.

What kind of Insurance or bond is required to apply for a dealer’s license?

Dealer’s insurance and bond are required to apply for a dealer’s license in Indiana. It is necessary to submit an SR-23 certificate of dealer’s insurance to the state, along with your application, and a $25,000 surety bond.  We will refer you to a trusted insurance agency to take care of both.  On average, your insurance can be anywhere from $1700 to $2000 (depending on your state) per year and can be broken down into monthly payments. The surety bond can cost anywhere from $350 to $500 depending on a soft credit check, but we can work with anyone!

How much does insurance cost?

All quotes originate from your business location at one of our facilities in the state of Indiana.  There are several factors that will affect your quote, such as driving record, age, level of experience, and what state you live in.  Usually quotes come in between $1,700 and $2,000 per year and a deposit is required to start the policy.

Where can I get dealers insurance?

We work with companies that specialize in Dealer Insurance and we will set you up with an insurance professional who can help you set up your insurance policy no matter what your situation is!

Is this my own License or am I an agent of some LLC?

The license will be on your name and it is for you to manage as you see fit. We provide you with the ability to have and maintain a license by leasing in our facilities--plus we do all of the paperwork!  An LLC company makes you an agent under their account at an auction and they rent you a dealer plate. Not only is it very expensive, but also it is not your license and they can drop you any time they want.

Can I add members to my auction account once I have my license?

Yes. Different auctions have different rules about how many members one license can have. However, many allow you to add members for free, so you can add and remove members as you see fit.

How do I get my mail?

It is included in our services! Our office staff collects and processes your mail on a weekly basis and forwards your correspondence to your home or office within the United States.

What kinds of cars are sold at the auctions?

Depending on the type of auction, you could find virtually any car of any make and model, from economy cars to high-end exotics!  All auctions will have a list of the vehicles they run days in advance. You can search those listings by year, model and they even VIN number. You can even run a CARFAX on the vehicles prior to bidding. Most auctions feature off lease vehicles and new car trade ins. Companies such as Enterprise, AVIS and many others offload their inventory as well. Financing companies such as Nissan Financial, Ford Financial, HSBC and Wells Fargo also sell their cars at the auctions.

Are there any warranties on vehicles sold by the auctions?

Depending on the auction, rules can vary. All auctions offer some kind of auction guarantee program. Inquire with auctions for specific rules. There are inspection services available pre/post sale that ensure the condition of the vehicle.

Will this license allow me to buy from insurance auctions?

Yes, however, each state has their own rules governing salvage or damaged vehicle sales. All auctions that specialize in damaged vehicles have to follow state regulations. Inquire with your particular auction to see if you qualify to purchase those vehicles with your Indiana wholesale license.

How many dealer plates can I get?

You get 2 dealer plates right away! Once you are an active dealer the State will grant you 2 plates more for every 15 sales for a total of 4.

Is it legal to drive on dealer plates?

Yes. If you are a registered dealer then your plates are legal in any of the 50 states. Keep in mind that dealer plates are used for business purposes only and not for leisure. Your plates come with their own registration and insurance, and as long as you carry the title in the vehicle it’s 100% legal.

How do I file my taxes as a dealer?

As a registered corporation you will be liable for federal and state taxes (State taxes will go to Indiana).  Generally speaking, you will have to pay taxes on the money you make as a dealer. At the same time, because you own a private business you also have the ability to write off expenses!

How can I verify that your company is legitimate?

We are accredited with the Better Business Bureau! And we are an Illinois/Indiana corporation in good standing.

How do I get started?

Call us at 866-664-0054 or email us at info@DealerLicenseGroup.com for immediate consideration.