Car Dealers, Rhode Island Car Dealers |
Are you a resident of Rhode Island? Do you want to make a lot of money without a lot of demand? Have you thought of becoming a professional car dealer? Well here is your chance! Here are three easy steps for you to become a car dealer. The process is not the difficult and you should always confirm with the Rhode Island Department of Motor Vehicles the requirements for obtaining your car dealer's license but this is a quick guide for Rhode Island residents to understand what is necessary to start selling cars.
So, what are the three steps you may be asking? Well, here they are:
Step one. You will have to complete a six hour car dealer course from the Department of Motor Vehicles. In this course you will learn all the aspects of becoming a car dealer, tips and benefits and the law regarding sales transactions of vehicles. After the course is finished you will receive a class certification acknowledging that you have completed and passed the class. You will then have to make an appointment at the local Rhode Island DMV Inspector in order to take and pass the DMV Examination. This exam consists of 40 multiple choice questions in which you must correctly answer 28. You must pass the test within three attempts.
Step two. You will have to fill out your car dealer application and supply a valid surety bone, resale permit and a zoning approval letter. This bond makes you responsible for any mishap there may be in order for the state to financially recover from your losses. If you are planning to sell wholesale only and less then 25 cars per year there is a request for a $15,000 bond. If this is not your goal, then you will have to pay for a $50,000 bond.
Step Three. Once you have finished steps one and two, you will have to prepare your office and take photos of your office. Your office must pass an inspection which views many perspectives. In order for your office to even be inspected, you must have a photo shoot of your office in which you will submit the photos. The photos required are as follows: the Building, an outside sign, a display area, the office, the business license, the posted Resale License, an office phone, the office signs, a locked cabinet or safe, the Checkbook and deposit slip and finally the DMV dealer book
If the photos of are good quality, a complete set (AKA it is not missing any of the requirements) and demonstrate that the office is worthy to be looked at, an appointment can be made by the DMV. Just from the photos it is possible to receive a temporary license and approval until the final inspection is made. Once the inspector has granted and approved the car dealer office, you will be able to start selling cars like a real car dealer!
Selling cars in Rhode Island can be a great job opportunity if you are ready to put in the effort. Just remember the area is small so competition will be a factor for getting your business started. There is a lot of responsibility becoming a car dealer but it is worth the rewards. Call your local DMV and get a Car dealer's license now! |
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