Step 2, Provide proof of Garage Liability Insurance to the FLHSMV for a minimum of $25,000 combined single-limit liability coverage including bodily injury and property damage protection and $10,000 personal injury protection. 2, 3, ch. Secure it from the U.S. Internal Revenue Service (IRS). 850.224.1466 A used car dealer bond is a type of surety bond. Requirement by any motor vehicle dealer that any customer or purchaser finance a motor vehicle with a specific financial institution or company. May 1 - April 30, renewal before May 1; Applies to: Independent motor vehicle dealer (VI), Wholesale motor vehicle dealer (VW), Motor . How to Become a Used Car Dealer in Florida - FIADA Orlando, FL 32806 (South Division area) $700 - $1,400 a week. Florida Statutes Definitions Index (2022), Table Tracing Session Laws to Florida Statutes (2022), Index to Special and Local Laws (1971-2022), Index to Special and Local Laws (1845-1970). However, if such refusal is at the direction of the manufacturer, distributor, or importer, such refusal shall not be a ground under this section. In Florida, the Office of Financial Regulation can authorize a foreign trust company to operate a representative office in this state. Motor vehicle means any motor vehicle of the type and kind required to be registered and titled under chapter 319 and this chapter, except a recreational vehicle, moped, motorcycle powered by a motor with a displacement of 50 cubic centimeters or less, or mobile home. Please Note: Salvage Dealers are exempt from submitting a proof of garage liability insurance coverage. A wholesale motor vehicle dealer shall be exempt from the display provisions of this section but shall maintain an office wherein records are kept in order that those records may be inspected. This will increase our ability to procure the renewed GLI policies and surety bonds and will avoid delays in the renewal process for dealers. 2008-176; s. 11, ch. COM: Commercial Collection Agencies Chapter 559 Part V, Florida Statutes: The registration authorizes the holder to collect or solicit collection for commercial claims, asserted to be owed or due to another person, including third party collectors (assignee) of debts made by commercial business. 67-93; ss. To learn more about getting your license and to find easy-to-complete online courses to meet the pre-license education requirements, visit our Florida dealership training program page. The office must have at least 100 square feet of interior floor space, not including hallways, closets, or restrooms. 63-349; s. 6, ch. Failure of any motor vehicle dealer to comply with the terms of any bona fide written, executed agreement, pursuant to the sale of a motor vehicle. Not a residential address: Your dealership location can't be your place of residence. Motor vehicle broker means any person engaged in the business of offering to procure or procuring motor vehicles for the general public, or who holds himself or herself out through solicitation, advertisement, or otherwise as one who offers to procure or procures motor vehicles for the general public, and who does not store, display, or take ownership of any vehicles for the purpose of selling such vehicles. 86-243; s. 14, ch. Such person shall be licensed to do business in this state, shall not sell or auction a vehicle to any person who is not a licensed dealer, and shall not have the privilege of the use of dealer license plates. For the purposes of this section, a demonstrator, a new motor vehicle, and a used motor vehicle shall be defined as under s. Unjustifiable refusal to comply with a licensees responsibility under the terms of the new motor vehicle warranty issued by its respective manufacturer, distributor, or importer. The curriculum for other subjects shall be approved by any and all other regulatory agencies having jurisdiction over specific subject matters; however, the overall administration of the licensing of these dealer schools and their instructors shall remain with the department. Branch office means any location in this state of a dealer or investment adviser where one or more associated persons regularly conduct the business of rendering investment advice or effecting any transactions in, or inducing or attempting to induce the purchase or sale of any security, or any location that is held out as such. This felt like the ideal first experience for a pre license course. Mortgage Lender Servicer The mortgage lender servicing license is required for any mortgage lender licensee who services a mortgage loan. Failed to honor a bank draft or check given to a motor vehicle dealer for the purchase of a motor vehicle by another motor vehicle dealer within 10 days after notification that the bank draft or check has been dishonored. Sale by a motor vehicle dealer of a vehicle offered in trade by a customer prior to consummation of the sale, exchange, or transfer of a newly acquired vehicle to the customer, unless the customer provides written authorization for the sale of the trade-in vehicle prior to delivery of the newly acquired vehicle. Mortgage Broker Branch: This license is required for mortgage broker licensees who conduct business at locations other than their principal place of business: ML: Mortgage Lender Chapter 494, Florida Statutes: This license is required for an entity making a mortgage loan for compensation or gain, directly or indirectly, or selling or offering to sell a mortgage loan to a noninstitutional investor. No investment adviser shall engage in business from offices in this state, or render investment advice to persons of this state, unless the investment adviser is registered with the Office of Financial Regulation (OFR) pursuant to Section 517.12(4), Florida Statutes (F.S.). To apply for your independent or franchise dealer license, youll need to submit: Once your application, documents, and fees are ready, submit everything to the Bureau of Dealer Services Regional Office responsible for your motor vehicle dealership. Performance & security by Cloudflare. 84-155; s. 4, ch. Commercial Banks: a corporation that accepts deposits, makes loans, pays checks, and performs related services for the public. Failure to apply for transfer of a title as prescribed in s. Use of the dealer license identification number by any person other than the licensed dealer or his or her designee. ), is you to post a bond to the amount of $25,000. >>>>>We can set this up for you> Used Car Florida Dealer License, Florida Used Car Dealer License Requirements, If you are in the state of Florida and want to sell more than 3 or more vehicles in a 12-month period, you must have a Florida Dealer License. No. Any person who buys, sells, or deals in motor vehicles at wholesale or with motor vehicle auctions on behalf of a licensed motor vehicle dealer and as a bona fide employee of such licensed motor vehicle dealer is not required to be licensed as a wholesale motor vehicle dealer. You can see the renewal schedule for all types of dealer licenses in Florida here. Salvage motor vehicle dealer means any person who engages in the business of acquiring salvaged or wrecked motor vehicles for the purpose of reselling them and their parts. How to get a Florida Franchise Dealer License - Surety Solutions, A 2001-61; ss. Dealer License Renewal Notice - Florida Independent Automobile Dealers Performance & security by Cloudflare. If you allow your license to expire, you must cease operations on May 1, 2020, and will not be able to engage in motor vehicle sales transactions until the renewal process has been completed. An intermediary of a crowdfunded securities offering under Floridas Intrastate Crowdfunding Exemption (s. 517.0611, F.S.) The certificate of completion from the pre-license class is valid for 6 months. You must obtain a motor vehicle dealer license if you will be: Currently, Florida offers a range of dealer licenses; here, we highlight how to become a used and new car dealer. Each independent dealer shall certify that the dealer (owner, partner, officer, or director of the licensee, or a full-time employee of the licensee that holds a responsible management-level position) has completed 8 hours of continuing education prior to filing the renewal forms with the department. ; sold in a transaction exempt under Section 517.061, F.S. This form is provided by your state's agency/department. INDEPENDENT (VI), WHOLESALE (VW), AUCTION (VA), AND SALVAGE (SD) MOTOR VEHICLE DEALERSarerequiredto submit the following documentation with their renewal application: Please note:Salvage Dealers are exempt from Garage Liability Insurance. The license is not required for banks and certain other financial institutions doing business under state or federal laws. However, the aggregate liability of the surety in any one year shall in no event exceed the sum of the bond or, in the case of a letter of credit, the aggregate liability of the issuing bank shall not exceed the sum of the credit. Due to changes in world the last few years, in person classes for pre-licensing have become increasingly less popular and have subsequently been discontinued. The following words, terms, and phrases when used in this section have the meanings respectively ascribed to them in this subsection, except where the context clearly indicates a different meaning: (a) "Department" means the Department of Highway Safety and Motor Vehicles. ), who engages in the business of offering, buying, selling, or otherwise dealing or trading in securities issued by another person. View Courses INDEPENDENT DEALER MAGAZINE Current Issue This course complies with the state mandated 8 hours of continuing education. I've learned to comply with the law, pay attention to details that are crucial in achieving success. Start your FL state approved pre license course with the FIADA. This certification must include at a minimum, $25,000 combined single limit liability coverage including bodily injury and property damage protection and $10,000 personal injury protection. Dealer License Requirements and Application Pre-Licensing Students Only: Manuals for Download [ More InfoHide Info ] Prelicensing Students, please use the password provided to you during your prelicensing seminar to access the dealer training school manual secure PDF document. 80-217; ss. In addition to the main location license, any subsequent location other than the main office must be filed as a SFB: Sales Finance Company Branch by way of Online Services. 87-161; ss. 65-190; s. 1, ch. Here are the parameters per, section 320.27 of the 2020 Florida Statutes. Please keep in mind that once you complete the pre-license course the certificate will expire in 6 months.