In the state that Ohio, if you room planning on selling provided cars because that a benefit you are forced to gain an Ohio Used car Dealer License. However, If your are selling up to 5 of your own personal vehicles registered in her name in a 12 month period you will certainly not need a license.
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Steps to gain Licensed:
Step #1: Prepare company Location
Before applying for her license, make sure you have a commercially zoned location for your organization that meets the following requirements:Display area - distinguished from any type of parking areasNot connected to residence or an unrelated businessPermanent office at least 180 square feetPermanent sign showing organization namePosted company hours and telephone number
For a full list of detailed requirements visit the Ohio BMV website.
You will need to encompass photographs that the ar with your application. Also, the BMV will inspect your physical location.
Step #2: complete Training Course
You will need to complete a 6 hour course at some point within the 6 month duration before her licensing. You can register because that a course from one of these authorized providers:
Step #3: register Business
Before you space able to get your license, you will need to make certain you register your service with the adhering to government agencies:
Secretary of State
IRS in bespeak to obtain your FEIN
County Auditory"s Office for your merchant Number
Step #4: elevator Check
All owners will need to finish background checks including digital fingerprinting. You deserve to learn more and uncover how come submit your background check on the BMV website.
Step #5: acquisition A $25,000 Ohio Motor vehicle Dealer Bond
An Ohio Motor automobile Dealer link is a kind ofsurety bondthat protects your customers. If friend fail to monitor rules and also regulations that the industry,someone deserve to make a claim versus your bond.
Don"t worry, you will not need to pay the complete $25,000 for her bond! girlfriend will just pay a small percentage, commonly 1-15%, that the bond amount relying on your credit.
You can uncover out exactly how much you would certainly pay for your bond here:
Step #6: complete An Application
You deserve to download your application onlinehere. Make sure to finish your applications in full to protect against delays or declination. Friend will also need to encompass the complying with fees v your perfect application:
Permit fee: $50
TitleDefect Rescission money fee: $150
You can submit her application with all additional documents, pictures, and fees to:
Ohio bureau of motor Vehicles
Attention: Dealer licensing Section
P.O crate 16521
Columbus, Ohio 43216-6521
Step #7: purchase Dealer Plates
It is required to purchase the master plates because that $50.25. Any added plates you choose to purchase will cost $10.25 each
Upon approval, you should receive your license from the BMV in 4-6 weeks.
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For any type of further inquiries on the licensing process, call the BMV Dealer Licensing section at(614) 752-7636.