You have your business but do you have a license?
In order to see vehicles in Georgia, you must get a dealer license and maintain a bond.
In this video, we discuss the basic licensing and bond requirements.
Below is a transcript of the video:
The general rule of thumb is anyone selling five or more cars in a 12 month period must have a license issued by the State Board of Used Motor Vehicles. That’s the motor vehicle dealer license that’s done through the Georgia secretary of state’s office and they oversee the entire process. They assign all of the rules and requirements to each of the boards that issue licenses in the state, one of which, of course, is the State Board of Used Motor Vehicles in Macon.
It’s very important that any dealer get a license. It’s required by the state, especially for anyone selling five or more vehicles in any 12 month period. That’s done with an application, an application fee, and certain requirements. One of those requirements is that the dealer maintains a dealer bond. Later on in this series, we’re going to have an entire video devoted to the dealer bond to talk about some of the things I’ve seen in my practice and in cases that I’ve handled with clients I’ve represented that are having issues that come as a direct result of their dealer bond or when the dealer bond becomes an issue.
It’s important to know how the dealer bond works, what it stands for, what it represents, and whether it helps or hurts the dealer. That’s just one of the requirements for obtaining a license. Again, the license is done through the Georgia Board of Used Motor Vehicle Dealers in Macon, and that is something that all dealers, at least those selling five or more cars in a 12 month period must have.
For more videos on the Georgia Car Law Authority series, please visit www.georgiacarlaw.com.
For more information and to book a strategy session, click here!