How much does it cost to get a used car dealer license in Michigan?
Licensing fees for all classes (except C, H, and R) are $75. For classes C, H, and R the licensing fees are $160. Dealer plates cost $10 each. A minimum of 2 dealer plates is required for your business.
Can you get a dealer license without a lot in Michigan?
Vehicle Display Lot You must have an area to display vehicles that is at least 1300 square foot with enough room to display 10 vehicles and you are also required to have at least 650 feet for a customer parking lot.
How much is a dealer license in Michigan?
Licensing
| License | Fee |
|---|---|
| Class A – New vehicle dealer | $75 |
| Class B – Used vehicle dealer | $75 |
| Class C – Used vehicle parts dealer | $165 |
| Class D – Broker | $75 |
Can Michigan auto dealers sell cars?
Michigan restricts Sunday car sales to only those counties which have a population less than 130,000. That may be a weird law, but there are other states with even stranger laws than that.
Do I need a license to sell cars?
To buy and sell cars for a profit on a regular basis without a dealer license is illegal in every state. What happens if I sell cars without a dealer license? Selling vehicles for a profit without a license is illegal in every state. If caught, the penalty is a hefty fine and even possible jail time.
How do I become an auto broker in Michigan?
Michigan Auto Dealer License Guide
- Obtain a Permanent Business Location.
- Meet Zoning Requirements.
- Obtain Fleet Insurance.
- Compile the Required Documents.
- Obtain Your Auto Dealer Bond.
- Submit Your Dealer License Application.
Is car flipping profitable?
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.
Why can’t you sell a car on Sunday in Michigan?
The 1953 law only affects the state’s larger counties, but for 400 dealers in smaller Michigan counties, the Sunday option still holds little allure, he said. “It’s a combination of morale, employee structure, ability to develop relationships with customers. It’s also the inability to finance the deal,” Burns said.
Can car manufacturers sell directly to customers?
It isn’t illegal for you to buy directly from the manufacturer, it’s illegal for them to sell to consumers. Otherwise, you would have groups of outlaws cutting corners and illegally buying from manufacturers, and saving a ton of money.
How do you register a used car dealer?
Requirements to Register as a Motor Dealers
- Letter on a Company letterhead, stating nature of business.
- Letter nominating the proxy.
- A certified copy of the proxy’s ID.
- A CK document in respect of the entity applying.
- A SARS tax clearance.
- Proof of business address in terms of FICA, eg water and lights account.
How many cars can you sell before being classed as a trader?
There are no hard and fast rules on how many cars you need to sell to be a trader. Some insurance policies will need you to sell a vehicle every 1-2 months to be classed as a trader and be eligible for insurance. Every individual insurance company varies.