To operate a car dealership, you will need to obtain a motor vehicle dealership license from the motor vehicle commission. Before applying for this license, you must first establish your place of business and contact your local municipality to find out your area’s requirements for car dealership operation. Then, obtain insurance for minimum amounts for bodily injury coverage and for property damage for all your vehicles. How to get a dealer’s license is a big question. If you wish to offer financing to your customers, apply for a license from the Commissioner of the Department of Banking. Contact the Department of Banking for instructions and an application for this license.
You must also apply for a surety bond. This bond guarantees that you will comply with the statute in your state as it relates to operating a car dealership.
After completing the previous steps, you may apply for your dealership license. For further information on how to obtain dealers license, visit the Motor Vehicle Commission’s website, and download the appropriate application. Dealership licenses vary, depending on whether you operate a new and used car dealership, just a used car dealership, or a leasing dealership.
Online, you can find the Universal Fingerprint Form, which contains all the information you will need to apply for the fingerprinting process. You will have to schedule an appointment to complete the fingerprinting process; after completing this, you must let the MVC fully investigate your dealership to be sure you qualify for your car dealer’s license. If you qualify, you will then need to pay for a wall license and for a set of five dealer license plates.
So rush now to get your license and start your own business without any trouble.