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.


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.org…



Popular Q&A

What are your opinions about the different car insurance companies? Which one is the best?
I've seen Allstate to be about one of the best when it comes to paying claims and stepping up to the plate. I've been an Independent Insurance Agent since 1992, so needless to say I've seen allot of claims and I've seen the way allot of carriers have treated there insured’s. Mind you they...

What is the cheapest auto insurance in MA?
Try this sitehttp://cheapinsurance.notlong.comhere you can get quotes from different companies in your area so you can find the cheapest option for you.

What car insurance do you like?
I currently have State Farm. There is very little difference between the large insurance companies(Allstate, Farmers, State Farm, etc). Maybe you just don't like your agent. Nevertheless, below is some information to help you decide.The magazine Consumer Reports has rated the top insurance...

Why is auto insurance through Geico so cheap?
Actually, when you see someone doing a lot of advertising over and over, it means that it is paying for them, else they wouldn't be doing it.But I have heard a few people say that they weren't the cheapest, it all depends on may factors... but anyway when I find a cheaper quote than my current...

Can anyone give examples of how much their auto insurance went up in New Jersey (or another state) after a DWI
In NJ a DWI is 9 insurance points & when I was there, points were about $100 per point per year. I'm sure it is more now. When your insurance company finds out (if it is a company other than progressive or assigned risk), & they will find out, they will nonrenew you (since insurance companies...