A small business idea

[War Machine]

Friend of mine was fined 10k PER vehicle that he had financed and didnt have his finance license. He couldnt pay the fines, tried to fight it, and they took his license. They dont fuck around with illegal liens.


Now, they wont investigate your status if you have a license to finance or not, but if someone turns you in for something, or they audit your books they'll hammer your ass. In Texas all your DMV inspectors answer to a 3rd party law firm, not the state directly. They love fucking your shit up.

[JC316]

Pass time GPS is for tote the note lots, it allows you to give them a code to only allow the car to start for how many days you set the code up for. It is also illegal to remove them from the car if it financed and from what was told it is a felony.

The only way you can get someone for taking a GPS off is if you can prove that they intended to hide the vehicle. That is very difficult to prove. It might be a breach of contract, which would allow them to repo it, but just removing the GPS isn't a crime.

[Gasser64]

Friend of mine was fined 10k PER vehicle that he had financed and didnt have his finance license. He couldnt pay the fines, tried to fight it, and they took his license. They dont fuck around with illegal liens.


Now, they wont investigate your status if you have a license to finance or not, but if someone turns you in for something, or they audit your books they'll hammer your ass. In Texas all your DMV inspectors answer to a 3rd party law firm, not the state directly. They love fucking your shit up.

Is it possible to get a finance license without a dealers license? From what i can tell, the dealer license looks like kind of a pain. You have to have a lot already. It cant be your house. You have to have a bond. I was just going to do this for some extra side cash, not go full swing into the car business. Now some people will say just to flip them but you dont make near as much money in the long run and its a little bit harder of a sell.

[YALE]

Is it possible to get a finance license without a dealers license? From what i can tell, the dealer license looks like kind of a pain. You have to have a lot already. It cant be your house. You have to have a bond. I was just going to do this for some extra side cash, not go full swing into the car business. Now some people will say just to flip them but you dont make near as much money in the long run and its a little bit harder of a sell.

Set up financing with a finance company that specializes in lending to high-risk borrowers.

[JC316]

Is it possible to get a finance license without a dealers license? From what i can tell, the dealer license looks like kind of a pain. You have to have a lot already. It cant be your house. You have to have a bond. I was just going to do this for some extra side cash, not go full swing into the car business. Now some people will say just to flip them but you dont make near as much money in the long run and its a little bit harder of a sell.

Nope, have to be a dealer in order to have the financing license. Flipping is by far the better option. There are expert scam artists out there that will hand you your ass unless you keep the title, and even then they might just part your car out, or file for a bonded title on it.

[Cooter]

yup... owner financing a vehicle has never and will never work. it baffles me that people actually consider this as a valid option

owner financing a property? ok... maybe...

but a small, mobile, depreciating asset?!?! if you can't see why this is a horrible idea, you have no business trying to start any business IMO

[Mike]

You should finance them to family members, that always works!

[FastFox]

Selling Cars

Just get a "Wholesale Only" license. Find the cars, buy them right, and sell them to other retail dealers. Cheaper license, less requirements, and lots less headaches.

[MattB]

yup... owner financing a vehicle has never and will never work. it baffles me that people actually consider this as a valid option

owner financing a property? ok... maybe...

but a small, mobile, depreciating asset?!?! if you can't see why this is a horrible idea, you have no business trying to start any business IMO

And breaking laws to start/run this business = lolz

[Gasser64]

And breaking laws to start/run this business = lolz

Urr hurr never said I was going to

I know nothing of the process so this is just me learning

[Cooter]

I wonder what ever came of this brilliant idea

[War Machine]

what hater deleted my tag????


lol@owner finance my dick

[BradM]

I wonder what ever came of this brilliant idea

I heard he sbishopd off.

sl ackeyed off!

[Sean88gt]

what hater deleted my tag????


lol@owner finance my dick

I noticed at one point that most of the "mikec..." tags went away.

[BradM]

I noticed at one point that most of the "mikec..." tags went away.

Yet they keep appearing...weird.