Every state in the country has specific requirements for obtaining a vehicle dealership license. Therefore, the information you need to find about getting a dealer license is state-specific. All the information you will get is easy-to-follow, without confusing legal jargon. You will be told which applications to submit and you will be informed if those applications need to be notarized or accompanied by a fee. Where can you find all this? At the DMV’s website.
There you will find other useful information including display lot size, office requirements, phone line, font sign size, filling system needs and displaying of business hours. But, let’s talk precisely about the steps you need to follow so you can finish the paperwork part and start selling some cars!
1. Contact your local DMV
Each state in US has its own requirements for becoming a car dealer and getting the dealer license. Therefore, you will need to become familiar with the regulations in your state if you want to start your car selling business the right way. After you contact your local DMV, you will receive information and paperwork to fill out.
2. There are three things most states require:
– Pass the DMV test to get a car dealer license
– Set up a properly zoned (retail and/or commercially zoned) location
– Get the location approved by the DMV inspector.
Many county and city governments require at least a half-acre of paved surface, an office, and the most crucial ingredient of all, proper zoning. Most local governments will try to keep car dealers within a narrow strip of roadside and limit the available real estate to as small of a supply as possible.
3. Fulfill additional requirements
You will need several other things to make your car dealing business successful and legal:
– A business license (Visit the US Small Business Administration, you will find there a great deal of useful information and not just rules and regulations)
– A business plan (Ideally, it will help you to plan for the future and work more effectively with people, starting today!)
– Apply for a surety bond (You will need to have a good credit history and your financial paperwork in order to be a successful car dealer. You will have to provide information about your business and specify the amount of bonding needed. Also, you will also have to sign a credit release agreement)
– Pass a background check (Most states and most bonding companies will want to know you have a solid financial history and no crimes in your past)
Information on Dealers License, LLC
Dealers License, LLC is based in Greenville, South Carolina and helps clients across the country acquire their dealer license. They can assist you whether you are looking for a wholesale or retail dealer license, either of which allow you to access the dealer-only auctions mentioned above as well as buy and sell within the company’s retail network. They will also help you 24/7 with marketing assistance, mentoring and coaching. If you would like to learn more, check out: https://www.dlcnetwork.com/.