Used Cars: buy here pay here lots, car license, car lot

Question
I read your answer given in December about this subject but was wondering if any special papers need to be filed anywhere or if there are any literature to help to set it up. We are in Ohio.

Answer
Well I am sure every state has their own rules and regulations, but I recommend  you either ask the appropriate state office what you need to do, or ask a car lot that is currently in business, what you need to do.  The amount of paperwork you have to do is probably dependent on how much money you have or need.  You will have to get a used car license regardless, but in regards to setting up a floor plan with a bank, or possibly financing with a bank, it just really depends on what all you need.  If you dont need a bank, there probably isnt a whole lot of "additional" paperwork.  Just use the forms provided by the used car state offices and that should work.  But I say again, ask somebody who knows.  It is an area you REALLY want to make sure you cross all your "t"'s and dot all your "i"'s.  You want to MAKE sure you are legally protected, and there are to many differences between states for me to tell you all that you need to know.