Worth getting a vehicle dealers license? buying and selling 1-2 cars at a time?

So I have been looking into getting my vehicle dealers license but did not realize how difficult it actually was. I am 23 years old and financial am not worth all that much but want to take a risk while im still young. I would work and fix up the cars myself.





im following:


http://www.dmv.ca.gov/vehindustry/ol/ol_handbooks/ol248.pdf





but am confused on this part:


K. Applicant Certification:





A Surety Bond of Dealer in the amount of $50,000 issued by an insurance company must be submitted with your application or one of the following:





$50,000 cash (OL 65, OL 94).


$50,000 in a passbook account (OL 64/65).


$50,000 certificate of deposit made payable to DMV (OL 65)





does this mean you have to put a deposit of 50k down??!!??





SOO, it worth getting my vehicle dealers license if I plan on selling 5-6 cars a year (~1k profit per car)?








thanks for the help|||most countries say 6 cars or less do not need a license. but keep a book of income and expenses, just in case the tax dept start looking|||A $50,000 Bond Is a lot less than $50,000 cash, probably %26lt; $1000/yr, call and get an insurance quote.|||Excellent idea to try something big while your young, but i would recommend studying or going to school for what you have in mind.|||No - it means exactly what it says. You need a surety bond in the amount of $50,000 from an insurance company *OR* $50k cash or in account held for the DMV. The bond or secured account are insurance in case you sell a car that is not roadworthy or violate any of the many DMV rules regarding licensing. If you violate those rules, the DMV can seize all or part of that bond as a fine or penalty.





You contact an insurance broker dealing in business bonds and ask how much a $50k surety bond is for an auto dealer. Usually this low, figure areoun 120/month