StepsAttend a Pre-Licensing Course (Used Motor Vehicle Dealers Only)Obtain a Permanent Business Location.Obtain Proof of Liability Insurance.Obtain Your Auto Dealer Surety Bond & POA.Compliance with County Register of Deeds for Assumed Names & Traders License.Arrange & Obtain Inspection of Business Location.More items...
five vehiclesNorth Carolina residents are legally allowed to sell five vehicles per year without being licensed, as long as the vehicles are registered in your name. To sell any number of vehicles that aren't registered to you is a criminal felony.
The DMV requires that applicants disclose all Felony and Misdemeanor convictions that occurred within the past 10 years. The 10 years is measured from your date of conviction or date of release if you were incarcerated. There is no requirement to disclose traffic offenses, including DUI convictions.
Used motor vehicle dealers must complete a 12-hour licensing course approved by the DMV before applying for their license. This course must be completed within the 12-month period before your application date. Further information on approved dealer education courses is available from NCDOT Dealership Resources.
North Carolina residents are legally allowed to sell five vehicles per year without being licensed, as long as the vehicles are registered in your name. To sell any number of vehicles that aren't registered to you is a criminal felony.
Some people flip or restore just a few classic or exotic cars per year, but earn up to $30,000 per vehicle in profit alone. It doesn't take long to earn a big income with those types of numbers.
How to Get an Auto Dealer's License With No Storage LotContact the Zoning Department. ... Contact the Secretary of State's Office. ... Contact the Department of Motor Vehicles. ... Complete the Auto Dealer Application. ... Apply for a Surety Bond. ... Complete a Dealership Training Course. ... Register the Business Name. ... Apply for a Sales Tax Number.More items...
Generally, anyone engaging in the business of buying, selling, or exchanging motor vehicles of any kind in the state of Texas must get a Texas Dealer License. You are able to sell up to 5 vehicles a year as long as those vehicles are titled in your name and used primarily for personal, family, or household use.
Pre-licensing requirementsComplete the required pre-license education: The FLHSMV requires that all vehicle auction dealer licensees in Florida take 16 hours of pre-license education. ... Get fingerprinted. ... Get a surety bond and liability insurance. ... Register your business so you can legally operate in Florida.More items...
If you plan to sell more than five vehicles in a year, you must get an auto dealer license. You cannot lawfully operate a dealership without the required license, bond, and liability insurance.
You will be required to obtain a North Carolina Dealer Surety Bond in the amount of $50,000 for your first North Carolina Dealership. Each additional North Carolina Dealership will require a $25,000 dealer bond. North Carolina Dealer bonds are available from most North Carolina insurance agents.
There are no limitations or requirements for the number of vehicles that you sell in a calendar year. However, you must have a wholesaler license if you attempt to sell more than five vehicles in a calendar year.
This course provides prospective auto dealers with the 12 hours of authorized pre-licensing training to be licensed in North Carolina. Topics include powers of commissioner, dealer license plates, vehicle inspections, titling and registration, frequently used forms, and dealer disclosures. Call 336-506-4219 or 336-506-4322 for more information.
House Bill 432 mandates that any independent auto dealer seeking renewal of his/her license must show proof of attendance at a DMV-approved, six-hour continuing education class every year. Call 336-506-4219 or 336-506-4322 for more information. Instructor: Dennis Mauk