1.
What can I do with a Missouri Auto Dealers License?
2.
Do I need a Missouri Auto Dealer License to get into
Dealer Only Car Auctions?
3.
Can I use my Missouri Auto Dealers License to buy
vehicles at dealer only auctions, then resell them on
Ebay or Craigslist.org?
4.
How much money can I make with a MO Auto Dealer License?
5.
Will I be allowed to sell vehicles overseas with my
Missouri Auto Dealers License?
6.
Can I use my friends Missouri Auto Dealers License to
get into an auction, have her buy a vehicle for me to
sell?
7.
Can I buy a car from someone, ask them to sign the
title, and leave the rest of the title blank?
8.
Do I have to attend a Dealer Educational Seminar before
I get a Missouri Auto Dealer License?
9.
What is a Dealer Surety Bond, how much are they, and
where can I get one?
10.
What type of dealer insurance do I need for my Missouri
Auto Dealers License, what does it cost, and where can I
get a quote?
11.
Once I obtain my Missouri Auto Dealers License, where
can I find Missouri Dealer License forms?
12.
I have a commercial location in mind for my dealership,
what next?
13.
Can I have a friend or business partner attend the
seminar with me?
14.
What is a Dealer Floor Plan?
15.
What is Sub-Prime Financing?
16.
What is a Buy Here Pay Here Car Dealership?
17.
Can I get my dealer license the same day as the class?
18.
Do I have to sell a certain number of vehicles to keep
my dealer's license?
19.
Do I have to live in Missouri to obtain a Missouri Auto
Dealers license?
20.
After I get my Missouri Auto Dealers License, can I sell
cars on Sunday?
21.
How much will it cost to get my Missouri Auto Dealers
License?
22.
Do I have to take any kind of test at my Missouri Dealer
Seminar?
23.
I have other questions about obtaining a Missouri Auto
Dealer License, what should I do?
What can I do with a
Missouri Auto Dealers License?
Your
Missouri Auto Dealers License will allow you to enter
almost every dealer only vehicle auction throughout the
United States and Canada and buy vehicles at wholesale prices. Once
you obtain your Missouri Auto Dealers License, your
local auto auction should be able to issue you an
Auction ID Access card. After you are licensed, you can
also obtain this card by going directly to the
Auction Access website. You will be able to use this
card to get into most dealer only auctions in every
state. You can purchase vehicles at these auto auctions
and sell them on your lot. Your dealer's license will
also allow you to purchase vehicles without titling
them. When you sell a car, you will be able to sign the
title over to the new owner. You can bid on cars online
throughout the country through auto auctions that have
online bidding capability. You can also gain access to
many insurance and salvage auctions that are only open
to licensed dealers. A dealers license can give you an
unlimited earning potential.
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Do I need a Missouri Auto Dealers License to get into
Dealer Only Car Auctions?
Yes. You
must obtain a Missouri Auto Dealers License before you
are allowed access to
Dealer Only Car Auctions. Once you obtain a MO Auto
Dealer License, you can enter every Dealer Only Car
Auction in Missouri, every Dealer Only Car Auction
throughout the United States, and many Dealer Only Car
Auctions in other countries.
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Can I buy vehicles at Dealer Only Car Auctions, then
resell them on Ebay or Craigslist.org?
Absolutely. Once you obtain your Missouri Auto
Dealers License, you can buy vehicles at
Dealer Auctions, then sell to individuals or dealers
all over the country. You can even sell your vehicles to
individuals or dealers in other countries. Its totally
legal with your Missouri Auto Dealer License. Having a
MO Auto Dealers License offers you great selling
opportunities.
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How much money can I make with a Missouri Auto Dealers
License?
That's an excellent question.
Many people with a Auto Dealer License choose
to sell only a few vehicles per year, which can still be
quite profitable. Other dealers choose to "Go For It"
and sell hundreds of vehicles per month. A MO Auto
Dealers License will allow you sell one car a month or
five hundred cars a month. As a licensed Missouri Auto
Dealer, your earning potential is truly unlimited.
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Will I be allowed to sell vehicles to people in other
countries with a Missouri Auto Dealers License?
Yes. You can use your Dealers License to sell vehicles to individuals or
dealers in any country in the world. Exporting vehicles
is another profitable avenue of revenue for anyone that
has a dealers license. Countries all over
the world are experiencing a huge lack of vehicle
inventories and exporting cars overseas has become an
extremely profitable dealer niche. The first thing to do
is to contact a reputable transportation company that
has extensive experience exporting vehicles to other
countries. You may also want to develop a business
relationship with a single car dealer or distributor in
another country which would allow you to export a large
number of vehicles with only one business contact. Many
countries in Europe, South America, Africa, and Asia are
suffering from a substantial lack of vehicle inventories
leading to much higher profits per vehicle. An
aggressive entrepreneur with a Missouri Auto Dealers
License can utilize this growing overseas opportunity
for incredible financial rewards.
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Can I use my friend's Missouri Auto Dealers License to
get into an auction, have her buy a vehicle for me, then
sell it for a profit?
No. A person
must have there own dealers license in order to purchase
a vehicle from a
Dealer Auction then sell it for a profit. Any person
without a MO Auto Dealer License that purchases a
vehicle at dealer only auction, then sells it without
tax, tilting, and licensing that vehicle, is operating
as an illegal dealer. If you operate as an illegal
dealer in Missouri you can be charged with a Class D
Felony and the person that allowed you to operate
illegally under their license will have their dealers
license permanently revoked. You can never, ever operate
under another person's Missouri Auto Dealers License.
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Can I buy a car from someone, ask them to sign the
seller's signature box on the title, and leave the rest
of the title blank so I can resell it?
Never. This is called an "Open" title. It is also
called a "Blank" or "Skipped" title. Leaving a portion
of the title blank allows an illegal dealer to resell a
vehicle without paying taxes or "Skipping" the taxes on
that vehicle. Possession of a blank, open, or skipped
title is against the law in all fifty states and is now
a felony in most states. When you obtain your Missouri
Auto Dealers License, you will be able to purchase a
vehicle, fill out the back of the title completely, then
use your Dealer Number to assign the ownership of the
vehicle to the next buyer legally. Never, ever possess
an incomplete title and never purchase a vehicle from
someone with a blank title, they are acting as an
illegal dealer. With your Missouri Auto Dealers License,
assigning a title is completely legal. Find out more
about getting your
Missouri Auto Dealers License.
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Do I have to attend a Dealer Educational Seminar before
I get a Missouri Auto Dealer License?
Yes,
Missouri Senate Bill 747 requires all Missouri
Automobile Dealers License applicants applying for a
dealers license for the first time to attend the
training course. Missouri Dealer Seminars is a state
approved Dealer Educational Seminar Provider.
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What is a Dealer Surety Bond, how much are they, and
where can I get one?
You must provide
an original surety bond, or irrevocable letter of
credit, in the amount of $50,000 before obtaining a
Missouri Auto Dealers License. These legal documents can
satisfy any legal claims against your dealership by
unsatisfied customers. Don't worry, if you operate your
business with complete integrity, honesty, and the
highest ethical standards, you will probably never have
claims against your
Missouri Dealer Surety Bond
or Irrevocable
Letter of Credit. To obtain an Irrevocable Letter of
Credit, you will need to contact your banker. Some banks
require $50,000 worth of assets before issuing a letter
of credit. Most dealers in Missouri choose a Dealer
Surety Bond. An insurance agent or bonding company will
be able to provide you with an original surety bond. The
price for your Dealer Surety Bond depends on your credit
score. If you have good credit, the price for your bond
should be around $400.00. If you have bad credit, the
cost of obtaining your bond could be much higher. To
obtain a Missouri Dealer Surety bond, please call
816-390-2267. Or learn more about Missouri Dealer Surety
Bonds on our
Dealer Surety Bond Page here.
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What type of dealer insurance do I
need, what does it cost, and where can I get a quote?
In order to obtain a MO Auto Dealer
License you will need a
Dealer Insurance Garage Policy. Your
Dealer Insurance needs to be in effect before you
are granted a Missouri Dealers License.
Dealer Garage Insurance is a very specialized
insurance that is only sold by a few companies
nationwide. A
Dealer Garage Insurance Policy will cover your
vehicles when they being driven for demonstration
purposes by your customers. It will also cover you while
you are driving vehicles back and forth to auctions.
Most Dealer Garage Insurance Policies cover you if a
customer is injured on you lot.
Dealer insurance can be very expensive and newly
licensed dealers normally pay the highest rates. A
liability policy can start at around $150.00 per month
depending on your location and the number of Dealer
Plates that you possess. Full comprehensive, collision,
theft, hail damage, and errors & omissions Dealer Garage
Insurance Policies can cost much more. Just remember,
the longer you hold a Missouri Dealer License, your
dealer insurance rates should go down. You may obtain
your
Missouri Dealer Garage Policy, by
clicking here.
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Once I obtain my Missouri Auto
Dealer License, where can I find Missouri Dealer License
forms?
Keeping up on your paperwork
will be a big part of the day to day operations of your
car dealership. When you receive your Missouri Dealer
License you will be required to keep copies of every
single document that is used in the operation of your
Missouri Car Dealership. The most important piece of
office equipment you will need is a copy machine. Copies
of all documents related to your business will need to
be kept on file, ready to produce for the Missouri
Department of Revenue at a moments notice. After you
obtain your Missouri Auto Dealers License, you will also
need bill of sale forms,
Federal Trade Commission Buyers Guides, title
riders, odometer disclosure statements, secure power of
attorney documents, and many other dealer forms. You can
find most of the forms you need on the
Missouri Dealer Forms page.
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I have a commercial location in
mind for my dealership, what next?
Call your local city or county zoning board to make sure
you can operate an automotive business at this location.
You want to make sure any location you have chosen for
your new dealership can meet all the zoning requirements
before you attempt to obtain a Missouri Auto Dealer
License.
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Can I have a friend or business
partner attend the seminar with me?
Yes. The Dealer Educational Seminar tuition is $249.00
for the first person attending and $149.00 for each
additional person that attends the class. Each person
attending a Missouri Dealer Educational Seminar will be
issued a separate Certificate of Completion
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What is a Dealer Floor Plan?
A
Dealer Floor Plan is a loan for your vehicle
inventory. A Dealer Floor Plan is a great way to obtain
the funds you need so you can start purchasing vehicles
as soon as you receive your Missouri Auto Dealer
License. Many companies offer car dealerships lower
interest rates and special financing options that are
designed specifically for the Missouri Car Dealership.
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What is Sub-Prime Financing?
Sub Prime Financing is the process of
finding loans for your customers with less than perfect,
or bad credit. Many companies have loan programs that
are designed to assist car dealers in obtaining loans
for customers that need a car but have bad credit.
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What is a Buy Here Pay Here Car
Dealership?
When you operate a Buy
Here Pay Here Car Dealership in Missouri you are
financing your vehicles to customers that are usually
not able to obtain a bank loan. This is an excellent
service to your hard working customers that just happen
to have bad credit. Your customers may mail a payment to
you every two weeks or some customers decide to have
their payments deducted automatically from their
checking accounts. Learn more at your dealer seminar.
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How can I get my Missouri Auto
Dealers License on the same day as the Dealer Seminar?
If you have completed the
12 Steps To Getting Your Dealers License, the only
paperwork you will need to be licensed is your Dealer
Educational Seminar Certificate of Completion. You can
take mail or upload your completed paperwork, along with your
Certificate of Completion after your class. You will
then pay your licensing fees and be issued a Missouri
Motor Vehicle Dealer License, and a set of Dealer Tags.
You will then be fully licensed to legally sell motor
vehicles for a profit. You may also mail in your
paperwork any time within 12 months after the class.
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Do I have to sell a certain number
of vehicles to keep my dealer's license?
Yes, the Missouri Department of Revenue requires
dealers to sell a minimum of 6 vehicles per year. Newly
licensed dealers will be required to sell 1 vehicle
every 2 months during the first year in operation. Any
dealer that fails to sell 6 vehicles per year will not
be allowed to renew there license for a period of one
year.
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Do I have to live in Missouri to
obtain a Missouri Auto Dealers license?
No, you do not have to be a Missouri resident in
order to obtain a Missouri Auto Dealers license,
although your dealership must be located within
Missouri.
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After I get my Missouri Auto
Dealers License, can I sell cars on Sunday?
No, Missouri law requires all Missouri Dealerships to be
closed on Sundays.
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How much will it cost to get my
Missouri Auto Dealers License?
Missouri Dealer License fees vary depending on the
number of Dealer Plates you order, along with several
other factors. To find out what it will cost to get your
Missouri Auto Dealers License, check the
Missouri Dealer License Fees Page.
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Do I have to take any kind of test at my
Missouri Dealer Seminar?
No, there is not any type of test
at your Missouri Dealer Seminar. It is just a friendly,
casual question and answer session. After you sit
through the course you will be issued a Certificate of
Completion to show the Department of Revenue you
attended the class.
I have other
questions about obtaining a Missouri Auto Dealer
License, what should I do?
Contact
the Missouri Department of Revenue at 573-526-3669
option 7 or find out more about obtaining your Missouri
Auto Dealers License by clicking on the
Missouri Auto Dealer License Page.