How do I become a mini car dealer or auto broker in Tennessee?

How do I become a mini car dealer or auto broker in Tennessee?

I wish to become an auto broker in the state of Tennessee. I am not trying to have my own lot right now but instead would like to get into the private car auctions that are usually dealer only and sell them from my house. The state is not giving me much help and i would really like someone who already is an auto broker or a car dealer to give me some input on how to obtain a dealer license without having to open up my own lot.

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Literally, the first step in the application procedure is to complete a dealer application. Once you meet the following requirements, you must have an Area Field Investigator conduct an inspection of your site before a license will be issued.Tennessee provides a detailed brochure of these requirements. Below is an outline for quick reference.You need:An approved building facility physically separate from all other buildings, with office furniture and a working telephone (cell or mobile phone not acceptable as primary line).A vehicle display area large enough to fit 15 vehicles.To meet the sign requirements of a minimum letter height (per ordinance), permanently installed, and visible from the road.A garage facility or a service agreement with a nearby garage.Next, you'll need to send proof of the following requirements along with your application:Certificate of Liability Insurance (minimum $60,000)Business tax licenseSales tax identification numberPersonal and/or financial check and disclosureFinancial statement prepared by a CPAZoning complianceFranchise agreement letter from the manufacturerTwo-year surety bond or letter of credit (original)If applicable, you must also send a copy of the:Stockholders updateCity tax licenseSigned service agreementCorporate charterWarranty rate formBelow are the fees for each type of license. Each license is valid for two years, and renewal fees are the same as those for new licenses.New vehicle dealer: $400, per line makeUsed vehicle dealer: $400New Motorcycle dealer: $400 per line makeUsed motorcycle dealer: $400Salesperson or change of employer endorsement: $35Motor vehicle show permit: $200RV dealer: $400Manufacturer, distributor, factory branch, or distributor branch: $1600Factory distributor representative: $400Auto dismantler and recycler: $400Automobile auction: $400All duplicate licenses: $25Checks and money orders should be made payable to the Tennessee Motor Vehicle Commission and should be sent along with your application to:Department of Commerce and InsuranceCashier's OfficeDavy Crockett Tower, 5th Floor500 James Robertson ParkwayNashville, TN 37243-1153Fees paid in cash can only be made in person.For more information, or to schedule an appointment with a Field Investigator, call the Tennessee Motor Vehicle Commission at (615) 741-2711 or write to them at:Tennessee Motor Vehicle Commission500 James Robertson ParkwaySecond FloorNashville, TN 37243Fax: (615) 741-0651Source(s):Sourced directly from DMV.orghttp://www.dmv.org/tn-tennessee/buy-sell…

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