Obtaining a car dealer's license

[Automobile Maniac]

In a few Months my brother and I will be taking the test to try and obtain our--

Florida Independent Dealer License

These are the requirements
General DMV Requirements

• Approval of business location by a DMV representative. OK
• Completed application form. Not yet but OK
• Fee of $300 for each main location. Not yet butOK
• $25,000 surety bond or letter of credit. I have to pay $25,000.00 A year or what?
• Garage liability insurance. No Garage
• Copy of lease for location or proof of ownership. OK
• Dealer training seminar certificate. Where, how and by who?
• Registration of fictitious trade name. OK
• Copy of corporate papers. What papers?
• Sales tax number. Don't have yet but OK
• Federal employer identification number. Don't have yet but OK
• Fingerprints and applicable fees. ($47 per person). Not yet butOK

We have no idea what we are doing yet, but hey it cannot be that hard. Look how many used car lots there are.

Any help to the questions in red would be GREATLY APPRECIATED ! Thank you

[whtteg]

These are the requirements
General DMV Requirements

• Approval of business location by a DMV representative. OK
• Completed application form. Not yet but OK
• Fee of $300 for each main location. Not yet butOK
• $25,000 surety bond or letter of credit. I have to pay $25,000.00 A year or what? <<< You have to get a security bond form a bonding company, you don't have to pay $25K a year lol. Not sure how much they cost but a whole lot less than that.
• Garage liability insurance. No Garage
• Copy of lease for location or proof of ownership. OK
• Dealer training seminar certificate. Where, how and by who? << try searching the local yellow pages or google for car dealer seminar.
• Registration of fictitious trade name. OK
• Copy of corporate papers. What papers?<< Not too sure about that one.
• Sales tax number. Don't have yet but OK
• Federal employer identification number. Don't have yet but OK
• Fingerprints and applicable fees. ($47 per person). Not yet butOK

[noctorum]

Originally Posted by whtteg

These are the requirements
General DMV Requirements

• Approval of business location by a DMV representative. OK
• Completed application form. Not yet but OK
• Fee of $300 for each main location. Not yet butOK
• $25,000 surety bond or letter of credit. I have to pay $25,000.00 A year or what? <<< You have to get a security bond form a bonding company, you don't have to pay $25K a year lol. Not sure how much they cost but a whole lot less than that.
• Garage liability insurance. No Garage
• Copy of lease for location or proof of ownership. OK
• Dealer training seminar certificate. Where, how and by who? << try searching the local yellow pages or google for car dealer seminar.
• Registration of fictitious trade name. OK
• Copy of corporate papers. What papers?<< Not too sure about that one.You have to be incorporated to be a car dealer, the registration papers for your corporation have to be copied and given to the dmv.
• Sales tax number. Don't have yet but OK
• Federal employer identification number. Don't have yet but OK
• Fingerprints and applicable fees. ($47 per person). Not yet butOK

^^^