Insurance and get ready to open a dealer?

[tmnr1318]

I’ve no idea where to put this, so I am sorry if it’s in the wrong spot.

We are contemplating on starting a dealership, but have a couple questions.

First is, financing, and this is what I heard around the early 2000’s so bear with me. A customer receives financing at a place we do business with. I’ve heard that most pay around 60% of the sale, then the remaining 40% after approximately a year. Is that still true today?

Another is dealership insurance. Such as dealer plate licenses, driving with those licenses, etc. We’re anticipating on maybe up to 4-6 cars a month. What can we expect? What are you paying now for that?

We already anticipate liability and bonds and all the rest, but I’ve to really get a idea on these two.

 

[kylewilliam]

I’ve no idea where to put this, so I am sorry if it’s in the wrong spot.

We are contemplating on starting a dealership, but have a couple questions.

First is, financing, and this is what I heard around the early 2000’s so bear with me. A customer receives financing at a place we do business with. I’ve heard that most pay around 60% of the sale, then the remaining 40% after approximately a year. Is that still true today?

Another is dealership insurance. Such as dealer plate licenses, driving with those licenses, etc. We’re anticipating on maybe up to 4-6 cars a month. What can we expect? What are you paying now for that car insurance ontario?

We already anticipate liability and bonds and all the rest, but I’ve to really get a idea on these two.

I have some questions I want to correspond with off list to ask some questions about the insurance covering dealer inventory and vehicles the dealer owners might take home to drive personally.