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How to Obtain a California Dealer License Without a Lot if You Live Inside or Outside of California
Manage episode 431483511 series 2954530
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California Dealer License Start-Up Guide
- Complete 6-Hour Pre-License Course (Online)
- This course covers all steps, including paperwork, required to apply for your license.
- Choose License Location
- Residential: Allowed if zoned appropriately; typically only for wholesale licenses.
- Commercial: Ideal for retail licenses; offers higher profit potential and visibility.
- Obtain Dealer Surety Bond
- $50,000 Bond: For retail motor vehicle dealers and wholesale dealers selling 25+ vehicles/year.
- $10,000 Bond: For motorcycle dealers, lessors, and wholesale dealers selling fewer than 25 vehicles/year.
- Pricing depends on credit score; options are provided in the course.
- Live Scan Fingerprints & Resale Permit
- Fingerprinting is required for all owners/partners. Instructions are included in the course.
- Register with Secretary of State & Obtain FEIN
- Register your business with the Secretary of State and get a Federal Employment Identification Number (FEIN). Instructions are provided in the course.
- Location Inspection
- Your location will be inspected to ensure it meets state requirements. Details on scheduling this are included in the course.
- Pass DMV Exam
- Complete a DMV exam to get your license. Sample questions are provided in the course.
California Used Dealer License Benefits:
- Access to dealer auctions nationwide.
- Ability to purchase vehicles online or in person.
- Option to apply for an Auction Access ID card for easier auction access.
- Training includes how to legally charge document fees to increase profits.
License Location Details:
- Residential: Only for wholesale dealers; check with local zoning officials for compliance.
- Commercial: Offers broader customer base and higher profit margins; typically involves higher visibility and drive-by traffic.
Bond Requirements:
- Retail Dealers: $50,000 bond.
- Wholesale/Other Dealers: $10,000 bond or $50,000 depending on sales volume.
- The course provides guidance on finding the best bond rates.
Additional Steps:
- Live Scan Fingerprints: All owners/partners must be fingerprinted.
- FEIN Registration: Obtain this from the IRS; instructions included in the course.
Final Steps:
- Location Inspection: Ensure compliance with state requirements.
- DMV Exam: Complete and pass the exam to receive your license.
For a comprehensive guide and to start your training, visit https://dealerslicense.com
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