How To Obtain A Car Dealership License And Motor Vehicle Surety Bond In New Jersey

In order to operate a car dealership in New Jersey

, you will need to obtain a motor vehicle dealership license from the New Jersey Motor Vehicle Commission (MVC). Before applying for this license, you must first establish your place of business and contact your local municipality to find out your areas requirements for car dealership operation. Then, obtain insurance for minimum amounts of $15,000/$30,000 for bodily injury coverage and $5,000 for property damage for all your vehicles. If you wish to offer financing to your customers, apply for the license from the New Jersey Commissioner of the Department of Banking. Contact the Department of Banking for instructions and an application for this license.

You must also apply for a $10,000 surety bond. This bond guarantees that you will comply with the statute in New Jersey as it relates to operating a car dealership.

After completing the previous steps, you may apply for your dealership license. Visit the New Jersey Motor Vehicle Commissions website, and download the appropriate application. Dealership licenses vary, depending on whether you operate a new and used car dealership, just a used car dealership, or a leasing dealership.

Online, you can find the Universal Fingerprint Form, which contains all the information you will need to apply for the fingerprinting process. You will have to schedule an appointment to complete the fingerprinting process; after completing this, you must let the MVC fully investigate your dealership to be sure you qualify for your car dealers license. If you qualify, you will then need to pay $100 for a wall license and $257.50 for a set of five dealer license plates.

by: Christen R.

POST COMMENT

Outsource Article Writing - A Comprehensive Guide For New Purchasers Give a New Meaning to Your Business with Hotel Reservation Software Dress yourself with a new range of wholesale dresses Home Made Solar Power - Homemade Solar Power For Your Home Watch New York Jets vs Cleveland Browns Online How to Make Solar Power at Home - Make Your Own Energy, Save Yourself a Heap of Cash Homemade Solar Power Solution That Helps Save the Environment and Save You Money Holiday Tour to the World's Youngest Country - New Zealand A Look At The Top Energy Boosting Foods A Guide To Choose Restaurant Lighting During Festivals The new Work-Life Power Balance Online Income Flood IM: SEO New Method A new contribution of technology in the business world