Motor Vehicle Dealers Used Only Forms for Chicago
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Properly running any organization requires utilizing numerous formal papers for each operational scenario, which can be a challenge to get. To assist you to reach them faster, we've created an extensive online collection of legal forms for Chicago Motor Vehicle Dealers Used Only. We’ve arranged them according to local criteria due to the fact we know industry regulations differ by state. Just choose your state and search out for the template you need utilizing the search tab.
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FAQ
The cost of a vehicle dealer license to sell new and/or used motor vehicles costs $1,000. Licensed dealers may purchase license plates to demonstrate their vehicles: $45 for a master set and $13 for duplicate plates as set by Illinois Vehicle Code (625ILCS 5/3-602).
So, if you're asking whether you can get a dealer's license without having your own lot, the answer is yes, you can!
The Illinois Department of Revenue partners with the Illinois Secretary of State and their approved service providers in the Electronic Registration and Title program (ERT).
Without Car Lot?Must have an enclosed office.Books and records safely stored.Electrical service.Restrooms.Facility used exclusively for dealer business.Parking Spaces (note it does not say lot)Permanent signing with letters at least 6 inches tall.Must comply with local regulations and zoning.
Illinois Auto Dealer License GuideObtain a Permanent Business Location.Attend Dealer Training Classes.Compile the Required Documents.Obtain Proof of Liability Insurance.Obtain Your Auto Dealer Bond.Submit Your Dealer License Application.
Who Needs It: All individuals and businesses that sell or deal in 5 or more motor vehicles in a calendar year. Purpose: To ensure the public will receive compensation for any damages should the auto dealer fail to comply with dealer licensing law. Who Regulates Dealers in Illinois: The Illinois Secretary of State (SOS)