Florida Motor Vehicle Dealer Bonds
When applying for your Florida Motor Vehicle Dealer Bonds, you’ll need to first decide which type of Florida Motor Vehicle Dealer Bonds you’ll need.
Florida Motor Vehicle Dealer Bond License Types
- Florida Independent Auto Dealer License: allows you to deal in used motor vehicles only, for retail or wholesale sales.
- Florida Franchise Auto Dealer Bond: allows you to deal in new motor vehicles in agreement with a manufacturer. It also allows for the sale of used vehicles.
- Florida Auto Wholesale Dealer License: allows you to buy, sell, and deal only at wholesale prices with other licensed dealers.
- Florida Auto Dealer Auctions Bond: allows you to sell, through bidding, vehicles from other dealers. It also prohibits retail sales.
Requirements to Obtain a Florida Motor Vehicle Dealer License
- Completed Florida Motor Vehicle Dealer License application
- $25,000 bond or letter of credit
- Garage liability insurance
- Copy of business lease or proof of ownership of location
- Approval (by DMV representative) of dealership location
- Certificate proving completed dealer training seminar
- Business documents (copies of corporate agreement, fictitious trade name registration, sales tax number, federal employee ID number)
If you still have any questions about how to Obtain a Florida Motor Vehicle Dealer License, contact one of our Surety Bond experts. Or if you’re ready to get your license now, use our Florida MVD Bond Application.
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Florida Motor Vehicle Dealer License Renewals
Florida Motor Vehicle Dealer licenses must be renewed annually, at a fee of $75. All independent dealers must provide proof of at least eight hours of continuing dealer trainingupon renewal. This is in accordance with Florida Statute 320.27 (4)(a), which reads:
- “Each independent dealer shall certify that the dealer principal (owner, partner, officer of the corporation, or director) has completed eight hours of continuing education prior to filing the renewal forms with the department. Such certification shall be filed once every two years commencing with the 2006 renewal period. The continuing education shall include at least two hours of legal or legislative issues, one hour of department issues, and five hours of relevant motor vehicle industry topics.”
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