Tips On How To Get Wholesale Auto Dealer’s License In New York City

Working as a whole sale auto dealer you are going to purchase vehicles from manufacturers and sell these to licensed franchise auto dealers. As a whole sale trader you won't be permitted to offer cars to your private customers; nevertheless this could not in any way decrease your profit as in the least.  You will discover great benefits of being a wholesale retailer and that you will not regret your selection.

You need a motor vehicle dealer license to set up your own business in New York City; working without a legal permit is known as a crime in this State. The process is simple; you should fill an application form and pay the appropriate fee as it.

 

First, go online and log on to the New York Department of Motor Vehicles website and download the initial Facility Application. This is the specific doc you must fill out for being an auto dealer. Fill the form and include all compulsory details. Make sure you mention that you are keen to register as a wholesale dealer. Incorporate your new business’ prospective name as well as your long term address. Quite possibly the most essential thing about this application stands out to be the Section C, and that is related to the surety bond. You will have to state there that you will be applying as a wholesale dealer and whether you are a whole new applicant or not.

 

If you are a new applicant i.e. you have got 200 sold vehicles or less you will be prone to pay $10,000 surety. If the case is contradictory you'll have to pay $25,000 in surety. Likewise incorporate your business address on this part of the application. Also have a proof document for your insurance of wholesale vehicles that you will end up providing. Your agent should provide you with the certificate of insurance.

 

Pay the application fee along with the application; it will probably be around $40 and may be paid via paycheck or money order. And with this you must pay a total of $450 for the business fee; the entire money is going by a check or money order. Place your legal signatures on the form and attach the relevant documents necessary for New York City authorities. The filled out application has to be mailed to the office within the New York City State Department of Cars.

 

Also take into account that you want a valid position for your home business. Have the location registered with the zoning authorities; guarantee that it will not fall inside the residential areas. The positioning should have considerable space to hold on to a major range of vehicles.

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