How to Become a Licensed Motor Vehicle Dealer
Requirements Necessary to Maintain a Dealer License
Completing the Application for Dealer License
Filing Notice of Sale and Monthly Sales Reports
Reasons for Suspension and Revocation of a Dealers
License
Records Inspections by the Department of Revenue
Federal Trade Commission Buyers Guide Laws
Off Site Shows and Off Site Sales
Advertising Regulations
Federal Financing Disclosure Requirements
Department of Revenue Notice of Lien and Record Look Up
System
Repossessed Title Applications
Missouri Application for Title and License
Proper Assignment of Title
Transfer of Motor Vehicles Between Dealers
Reassignment of Ownership by Registered Dealers
Secure Power of Attorney and Regular Power of Attorney
Trade In Credits and Other Credits
Odometer Disclosure Requirements
Branded Missouri Titles
Out of State Titles
Driver Privacy Protection Act
USA Patriot Act
Safety and Emissions Inspections
Insurance Requirements
Temporary Permits
Use of Dealer License Plates
United States Treasury Cash Reporting Requirements
Dealer Ethics and Integrity
Illegal Titles
Internet Sales
Plus much, much, more!
How to Become a
Licensed Motor Vehicle Dealer
Your
Missouri Dealer Seminar instructor will take you through
the entire licensing process, step by step. You will be
prepared to start your dealership as soon as you leave
your dealer class.
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Requirements Necessary to Maintain a Dealer License
You will find out the exact requirements
that are necessary before you can submit you dealer
application to the Missouri Department of Revenue.
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Completing the Application for Dealer License
Your instructor will show you how to fill out
your Application for a Dealer License correctly.
(Applications filled out incorrectly will be rejected by
the Department of Revenue.)
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Filing Notice of Sale and Monthly Sales Reports
Your Missouri Dealer Seminar instructor will
show you how to fill out and file your mandatory sales
reports correctly. You will learn how to file Notice of
Sale Form 5049 and Monthly Sales Report From 385. Sales
reports that are filled out incorrectly will be rejected
by the Department of Revenue. (Failure to report every
sale correctly can result in possible fines.)
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Reasons for Suspension and Revocation of a Dealers
License
We will discuss the many
reasons that could result in the revocation of your
dealer's license and how to avoid them.
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Records Inspections by the Department of Revenue
The Department of Revenue requires you to
keep copies of all records related to the day to day
operation of your dealership. These records must be kept
from 3 to 5 years and you must be able to provide these
records at any time without notice. Your instructor will
show you how to correctly maintain your records.
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Federal Trade Commission Buyers Guide Laws
Federal laws require all dealers disclose
warranty information before the sale. A
Federal Trade Commission Buyers Guide must be
prominently displayed on all motor vehicles held for
resale to fully comply by this law. Penalties for
failure to disclose warranty information before the sale
range up to $10,000 per violation. Learn how to comply
by this very important law at your dealer seminar.
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Off Site Shows and Off Site Sales
The
Department of Revenue allows Missouri Dealers to
participate in Off Site Shows and Off Site Sales while
requiring dealers to follow strict guidelines before
moving any vehicle inventories to another location.
During your Missouri Dealer Seminar you will learn how
you can legally participate in these very profitable off
site shows and sales.
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Advertising Regulations
The department
of revenue has strict advertising regulations all
dealers must adhere to. We will show you how to
advertise your business legally.
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Federal Financing Disclosure
Requirements
When you help your
customers obtain financing for the vehicles they
purchase from you, you must abide by strict Federal
credit disclosure laws. Learn about financing disclosure
requirements at your dealer seminar.
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Department of Revenue Notice of
Lien and Record Look Up System
Find
out what a lien is and how it will affect your day to
day business. You will also find out how to look up
title information on the Department of Revenue website.
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Repossessed Title Applications
Your Missouri Dealer Seminar instructor
will show you how to comply with State laws when
repossessing a vehicles.
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Missouri Application for Title and
License
We will complete the
application for title in class. This is a great service
for your customers that can help you obtain future
business.
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Proper Assignment of Title
Learn how to fill out a title correctly
without making common mistakes that can void the title.
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Transfer of Motor Vehicles Between
Dealers
Find out how to clear out your
overstocked inventory by reassigning ownership of your
vehicles to other dealers for a profit.
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Reassignment of Ownership by
Registered Dealers
Your Missouri
Dealer Seminar instructor will guide you through the
process of buying and selling a vehicle from an
individual, an auction, or from another registered
dealer.
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Secure Power of Attorney and
Regular Power of Attorney
Your
Missouri Dealer Seminar instructor will show you how a
dealer can use these great forms to buy cars with lost
titles.
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Trade-in Credits and Other Credits
As a licensed motor vehicle dealer,
you will be allowed to take all types of valuable
personal property as a trade in for your vehicles. Find
out more in your Missouri Dealer Seminar.
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Odometer Disclosure Requirements
You will learn what vehicles require
odometer disclosure and which vehicles are exempt.
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Branded Missouri and Out of State
Titles
You will learn how to identify
a vehicle that has prior salvage or rebuild history.
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Out of State Titles
As a Missouri Dealer, you will work with titles from
all over the country. Learn how to fill out an out of
state title.
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Driver Privacy Protection Act
You must know about this very important law that
protects the privacy of your buyers.
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United States Patriot Act
Find out how dealers must cooperate with
the United States Government to prevent future terrorist
attacks.
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Safety and Emission Inspection
Requirements
You will learn what
vehicles require these inspections and which vehicles
are exempt.
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Insurance Requirements
As a licensed dealer you will be required to
carry insurance on every vehicle in your possession.
Find out what type of insurance is required by law. You
can obtain
a Free Dealer Garage Insurance Quote by clicking here.
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Temporary Permit Issuance
Your customers can legally drive off your lot
with temporary permits. This is a great selling tool
that you will learn about in your Missouri Dealer
Seminar.
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Use of Dealer License Plates
You must abide by strict rules when using your
dealer plates. Find out more at your Missouri Dealer
Seminar.
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United States Treasury Department
Cash Reporting Requirements
Certain
cash transactions must be reported to the IRS within 15
days to avoid large Federal fines. Find out more in your
Missouri Dealer Seminar.
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Additional Topics:
Ethics and Integrity
You will learn how avoid having your
license revoked by operating your dealership with
complete honesty and integrity at all times.
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Illegal Titles
Learn how to identify an illegal title and how to stay
away from them.
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Internet Sales
Your instructor will be able to provide an overview of
how you sell your vehicles on
eBay,
the world's largest vehicle marketing place.
Plus
much, much more.
You can sign up at any time by
going to our
sign up page. If you have any more questions, please
use our convenient
contact form or you may call us at any time at
816-390-2267 or toll free at 1-800-369-2467
Classes begin at 8:30AM or 10:00AM. Find a class near
you by clicking on your
Class Schedule.
Obtain your
Missouri Dealer License by taking your
Missouri Dealer Pre-License Training at
MissouriDealer.com