Before you begin choosing the training course for finishing the Florida dealer license, there is something else you need to know. That’s the information about the different types of auto dealer licenses themselves.
These Licenses Types For An Auto Dealer In Florida Can Be:
The dealer can sell both new and used motor vehicles under the terms of this franchise dealer license in Florida. However, the dealer must have a deal or contract with a manufacturer to sell their motor vehicles ahead.
Under this license, the franchise dealer will also be able to service the sold vehicle’s makers. It works tremendously fine for those sellers who also want to indulge in after-sale services. These can include regular repair, maintenance, and insurance of the vehicle’s model.
The independent dealer sells used or new motor vehicles at the mere wholesale or retailer level in Florida using this license.
Auction or wholesale dealer:
This license will enable the licensees to buy, sell, or auction the motor vehicles at the wholesale level only.
The Florida Auto Dealer License Application Process
Search for the best possible Florida dealer license class online:
As a dealer, you must fulfill the hours required of the CE or continuing education. That must be from a department-approved school only. Once you complete the course, you need to attach the completion certification with the dealer’s license application.
Get a permanent business location:
Your real location for running an auto dealer business is necessary. For that, you need to have funds and a properly registered location to buy or own in Florida. After that, you have to appoint an inspection officer in terms of your auto dealer license.
They will inspect your registered address and check what other compliance is required. However, make sure your location is permanent and not a moving address. This building or office should not be your or anyone else’s residence.
This type of office must have at least 100 square feet of space.
Ensure that you all have the documents:
The next step after you complete your Florida dealer license class online should also be this one. Without paperwork or compliance, your application is going to be incomplete.
There are many documents that you need as a dealer. A few them of would be like:
- Copy of registered office in Florida.
- Articles of Incorporation for your dealership if it is a corporation.
- If the dealership is carried by partners, then there should be a piece of evidence for partnership.
- You also need a Sales Tax number. This will fulfill the purpose of receiving revenues as and when you start your dealership business.
- A Federal employee identification number is another requirement.
- Biometric details like fingerprints and the application to be paid.
Note: There are multiple other documents for those applying for the franchise dealership. But in general, it’s advised that you consult a dealership consultant in Florida for a complete list of the required paperwork for each category.
Proof of liability insurance is a must-have:
The independent, auctioneers, wholesalers, and other dealers can submit the garage liability insurance papers. Otherwise, they can apply for the general insurance policy with the business automobile policy. This policy can cover:
$25,000 in a single-limit liability conforming to the general insurance policy. This includes episodes of bodily injury or damage to the property.
$10,000 is the insurance policy required to file for personal injury.
But the franchise licensees can only submit the garage liability policy certificates.
Obtain the auto dealer bond in Florida:
There is a cost levied for applying for the dealer bond. It includes some percentage from the total amount of the bond. This bond’s cost depends on your financial strength too.
Every auto dealer in Florida needs to have this bond. You can file for this bond online from any such consultants. There is also a form called HSMV form 86020 that you need to fill for this bond application process.
Usually, the bond amount is about $25,000. However, to know the updated cost, it’s best that you visit the government website.
Final submission of the application of auto dealer in Florida:
This form is HSMV 86056. Fees of $300 for motor vehicle dealers and $340 for mobile home dealers need to be paid.
The auto dealer license will be given to you by the Motor Vehicle Field Operations at the Regional Office. And the usual processing time for the entire paperwork and biometric information is 5-7 business days.
Therefore, it’s best that you finish all your continuing education hours, paperwork and update the fingerprint details. Plus, don’t forget the bond.
You can choose the best educational institute online for your CE hours. One such institute is ONLINEAUTODEALERED.com. The Florida vehicle department has approved this institute.
The course is for 16 hours here. From this course, learn the entire process of license application submission as mentioned briefly in this blog.