[Business Guide] How To Start A Used Car Dealership In Missouri?

[Business Guide] How To Start A Used Car Dealership In Missouri?

How much is a dealer license in Missouri? How to start a used car dealership in Missouri? Are you looking for the same concerns by scrolling the internet? If so, then, it is time to delve inside the following segments that will discuss various aspects of getting a car dealership in Missouri. 

Well, this informative piece will help you in grabbing different facets like:

  1. Missouri auto dealer license
  2. How to get a dealers license in Missouri?
  3. The laws of used cars in Missouri

Now, without wasting any further moments, let’s delve inside the following segments one after another to get the gist of every facet that this piece would be covering.

So, let’s get started!! 

Missouri Dealer License

What does it take to get a car dealer license? If you are thinking of the same question, then let’s delve inside the following information to grab the answer.

The Missouri Department of Revenue asks for the payment of the following fees through the money order or the check.

Moreover, every discrete license fee is compulsory to pay every year. Likewise, the applicants can acquire more information about the fees on page 24 of the Missouri Dealer and Business Operating Manual.

Now, let’s shed some light on the basic fees for the Missouri Dealer License. For that, let’s delve inside. 

  • The license fees will cost $150.
  • Whereas the first four dealer plates will cost $50.
  • Likewise, each additional plate will cost $10.50.

What do you think of the expiration of the license? Well, the motor vehicle dealer license expires on December 31 every year. Hence, it should be generated before the termination date to proceed efficiently with the operations without any disruption. 

Also, it is essential to pen down that there is no grace tenure that has been established for the late renewals. The dealers can renew the license via the online portal of Missouri Department of Revenue, Motor Vehicle Bureau, Business Licensing. 

How To Get A Dealers License In Missouri

The motor vehicle dealers must be licensed if they are planning further to begin a Missouri automobile dealership. 

Those who suffice the auto dealership could deal eight or more vehicles in one year or more than the five trailers, boats, or the power sports vehicles.

First, it is important to determine the type of license you are looking for. To know the different types of licenses, let’s dive in a bit more: 

  1. Motor Vehicle Dealer: The very first opinion is to get a license for being a motor vehicle dealer. These types of dealers are the one who sell new vehicles and are not restricted to a single make. This further includes the RV, i.e., Recreation Vehicle dealer along with the power sport dealers.
  2. Wholesale Motor Vehicle Dealer: These dealers are involved in selling the vehicles wholesale to the other businesses. 
  3. Franchised New Motor Vehicle Dealer: These dealers have been licensed to sell out the particular make of the vehicles. 
  4. Used motor vehicle dealer: These types of dealers could sell any kind of used or second hand vehicles. 

Now, it is the time to know how one could get a dealers license in Missouri. For that, stay tuned to the segment till the end.

People must end the pursuing 10 steps before they become suitable for a license and then can propose the complete application to the Dealer Licensing Section of the Missouri Department of Revenue.

To know more of these 10 steps, it is a perfect time to dive into the following information. Hence, let’s get started!!

  1. Find out the auto dealer license type. 
  2. Finish a dealer education program (this is needed for the applicants or the applicants who are applying for the first time for a used vehicle dealer license).
  3. Now, it is the time to file the dealership with the Missouri Secretary of State.
  4. After that acquire that permanent location for the business as well as set the business name registration.
  5. Complete or finish the background check for criminality. 
  6. If relevant, prevail the franchise agreement. 
  7. It is a time to evolve the garage liability insurance or policy.
  8. Now, announce the irrevocable letter of credit or the Missouri auto dealer bond as required.
  9. The next step is t0 produce the inspection and certification of the business location. 
  10. At last, roll up the papers accompanying the business and then submit the application. 

Missouri Used Car Laws

Did you know, every year, many people purchase and sell used cars in Missouri. It is because it is  reasonably simple dealing to sell a used car. But, at the same time, there are various regulations that the people should acknowledge before selling the used cars. This will help them in not getting penalized by the Missouri Department of Motor Vehicles. 

Hence, there are definite legal requirements as well as responsibilities for the people who are cogitating to sell their used car.

Moreover, you can check out the information over the Missouri bill of sale.  

On the other hand, the Legal Information Institute will help you in getting all the possible information over the same. But what actually is LII? Well, it is a small engineering, research and editorial group that is housed in Ithaca of New York at the Cornell Law School.

The collaboration of LII includes legal scholars, government agencies, publishers, computer scientists, as well as other individuals and groups that help in promoting the open access to the law worldwide.

Along with this, the platform is further supported by corporate sponsorships, private donations as well as the patent institution, the Cornell Law School.  

By the way, what do you think about the United States Code? Well, it is a codification as well as a consolidation by the subject of the permanent and the general laws of the US.  Moreover, it is pioneered by the Law Revision Counsel of the US House of Representatives. 

Let’s Recapitulate

If you are thinking of starting a used car dealership in Missouri, then the above-mentioned information will help you on every step. 

Get ready to get to the used car dealership by simply following the above-mentioned steps.

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