Readers ask: How Does Wholesale Dealer License Florida Work?

How do I get a wholesale dealers license in Florida?

Apply for a Florida Motor Vehicle Dealer license

  1. Step 1: Determine Which Type of License You Need.
  2. Step 2: Take a Pre- Licensing Dealer Training Course.
  3. Step 3: Pick a Location and Get It Approved.
  4. Step 4: Obtain the Appropriate Insurance Policy.
  5. Step 5: Register and Establish Your Business.

How do you get a dealers license in Florida without a lot?

How to Get an Auto Dealer’s License With No Storage Lot

  1. Contact the Zoning Department.
  2. Contact the Secretary of State’s Office.
  3. Contact the Department of Motor Vehicles.
  4. Complete the Auto Dealer Application.
  5. Apply for a Surety Bond.
  6. Complete a Dealership Training Course.
  7. Register the Business Name.
  8. Apply for a Sales Tax Number.

How much does it cost to get a dealer’s license in Florida?

Required Fees

License Type Original License Fee Annual Renewal Fee – Primary Location*
Independent Motor Vehicle Dealer (VI) $300 $75
Wholesale Motor Vehicle Dealer (VW) $300 $75
Motor Vehicle Auction (VA) $300 $75
Salvage Motor Vehicle Dealer (SD) $300 $75
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Can a wholesale dealer buy from the public?

Wholesale. A wholesale dealer license allows you to buy from private parties, at the dealer auctions, and from other dealers directly. Wholesale dealers can sell to other dealers, and they can sell/export vehicles to foreign countries. Wholesale dealers cannot sell directly to the public.

How many cars can I sell in Florida without a dealers license?

This is generally referred to as “curbstoning.” Additionally, Florida law presumes any person, firm, partnership or corporation that buys, sells, offers for sale, displays for sale or deals in three or more motor vehicles in any 12-month period to be a motor vehicle dealer and must have an appropriate license issued by

Can a felon get a dealers license in Florida?

If a felon has been convicted of a non-violent, non-motor vehicle dealer crime, this most likely will not affect his or her ability to get approved for a dealer license. These include non-violent crimes such as: DUI. DWI.

How long does it take to get a dealer license in Florida?

The Florida Dealer Class is a two day course that will last a total of 16 hours. In your Florida Dealer Class you will learn about Florida motor vehicle dealer laws, Federal dealer compliance, how to report sales, etc. Approved Florida Dealer License providers are listed below.

How many cars can you sell privately a year?

As of January 2020, you are able to sell up to 5 vehicles per year as a private party. That means no licenses needed, dealer education, sales taxes paid, etc if you only want to sell 5 cars per year.

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How much is a surety bond in Florida?

There is usually just one charge for a combined Performance & Payment Bond. Depending on circumstances, these rates can average to be less than 1% of the contract price up to about 3% of the contract price.

Is car flipping legal?

Our investigation found that flipping a car for profit is not illegal. We have learned, in most cases, it can be done legitimately. The new owner must first register the car with the Department of Motor Vehicles in their name and pay the sales tax on the actual sale price.

Can you make money flipping cars?

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.

Is owning a used car dealership profitable?

Generally, dealers make more money selling used cars than new. The National Automobile Dealers Association data shows that the average used – vehicle sale last year saw a gross profit of just over $2,000, almost twice the average $1,200 on each new- vehicle sale.

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