There are immense benefits associated with becoming an automotive car dealer the world over. With a car dealer license, you will access auctions and buy cars at wholesale prices for resell at profit. Given the bulk nature of orders, you can also acquire personal cars of choice at greatly discounted rates and even assist close friends and family in doing so. Further, many countries offer great tax breaks as incentives to auto dealers for their efforts in spurring economic growth, generating wealth and creating employment.Thus said, acquiring an automotive dealer license is a step in the right direction.
Procedures applicable in acquiring an automotive trading license are quite divergent depending on which State you find yourself in. However, there are a few common prerequisites here and there that are to be expected. For purposes of clarity, the State of Florida and California shall be a study case in this article.
In Florida, the kinds of dealership recognized by their statutes include Auction, Wholesale, Retail and Franchising. According to the provisions of the dealership law, anybody or any organization displaying or inviting prospects for three or more cars is considered a dealer. Section 320.27 of the DMV Act clearly stipulates this condition.
The DMV requirements are quite broad and comprehensive. They basically include an approval of business premise, a completed application form, a $300 fee for every main location, a surety bond, securing of a Garage liability insurance, copy of lease for the yard, Dealer training seminar certificate, copies of corporate papers, sales tax number, a Federal employer identification number and finally, fingerprints accompanied by the application fees.
If a dealer is found to be non-compliant with the above rules, he risked being charged for a second degree misdemeanor under the Florida laws. Depending on the gravity of the crime, civil law can also be brought to bear. The effect of this would be stiffer penalties and harsher jail terms.
A license for auto dealer in California adopts a slightly different approach.Interested person(s) would first be required to attend and pass mandatory dealership course. The intensity of the course is dependent on the type of dealership license. The DMV in this State would demand proof of excelling in the exam and request directions to the business location. The charges levied are approximately by this office.
Interestingly, it is easier to operate as a wholesale trader in California than a retail one. This is owing to the fact that the restrictions for a retail dealer are more constraining. Stringent compliance with insurance and bonds is a must. In addition, only the retail type of dealership is permitted to engage the public.Upon passing, the successful applicant is also required to produce photos of his main area of operations.
Once prospective applicants for automotive dealer license pass their exams, they must produce photos of the main building, display area, the office, business and resale permits, inside signs and the DMV dealer book. Other requirements in the process include submitting of a zoning approval letter and a TSM8888 business license permit as well. As to any further information, feel free to visit the nearest DMV office.
Procedures applicable in acquiring an automotive trading license are quite divergent depending on which State you find yourself in. However, there are a few common prerequisites here and there that are to be expected. For purposes of clarity, the State of Florida and California shall be a study case in this article.
In Florida, the kinds of dealership recognized by their statutes include Auction, Wholesale, Retail and Franchising. According to the provisions of the dealership law, anybody or any organization displaying or inviting prospects for three or more cars is considered a dealer. Section 320.27 of the DMV Act clearly stipulates this condition.
The DMV requirements are quite broad and comprehensive. They basically include an approval of business premise, a completed application form, a $300 fee for every main location, a surety bond, securing of a Garage liability insurance, copy of lease for the yard, Dealer training seminar certificate, copies of corporate papers, sales tax number, a Federal employer identification number and finally, fingerprints accompanied by the application fees.
If a dealer is found to be non-compliant with the above rules, he risked being charged for a second degree misdemeanor under the Florida laws. Depending on the gravity of the crime, civil law can also be brought to bear. The effect of this would be stiffer penalties and harsher jail terms.
A license for auto dealer in California adopts a slightly different approach.Interested person(s) would first be required to attend and pass mandatory dealership course. The intensity of the course is dependent on the type of dealership license. The DMV in this State would demand proof of excelling in the exam and request directions to the business location. The charges levied are approximately by this office.
Interestingly, it is easier to operate as a wholesale trader in California than a retail one. This is owing to the fact that the restrictions for a retail dealer are more constraining. Stringent compliance with insurance and bonds is a must. In addition, only the retail type of dealership is permitted to engage the public.Upon passing, the successful applicant is also required to produce photos of his main area of operations.
Once prospective applicants for automotive dealer license pass their exams, they must produce photos of the main building, display area, the office, business and resale permits, inside signs and the DMV dealer book. Other requirements in the process include submitting of a zoning approval letter and a TSM8888 business license permit as well. As to any further information, feel free to visit the nearest DMV office.
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