Getting a Louisiana used car dealer license
Louisiana dealer bond
Louisiana dealer license
The licensing office for used car dealers in the state is the Louisiana Used Motor Vehicle Commission. You can obtain the following types of licenses from this office:
- Used motor vehicle dealer
- Rent with the option to purchase
- Crusher
- Automotive dismantler and parts recycler
- Daily rental
- Auction
- Used parts and accessories
The requirements for used car license:
- Completed application form
- Salesperson application form
- Business entity documents
- Personal information about owners
- Criminal background check (if a salesperson has had a felony in the last 10 years)
- Business sign that meets the set criteria and a picture of it
- Completed training for one key person from the dealership
- On-site inspection
- $50,000 surety bond for 1 Year Apply Now for a free Dealer Bond Quote
In addition to fulfilling the listed requirements, you need to cover the Commission’s licensing fees. The two-year company license costs $400, while the salesperson license is $25 per year. The licensing period runs for two years.
To obtain a Louisiana auto dealer bond
In order to obtain a Louisiana dealer license, you have to provide a surety bond. Used car dealers have to obtain a $50,000 bond, while new car dealers have to meet a $20,000 bond requirement. Apply Now for a Free Dealer Bond Quote
The purpose of the auto dealer bond is to safeguard the interests of your customers against potentially illegal activities you may engage in as a car dealer. In order to get bonded, you need to cover a small fraction of the required bond amount. For auto dealers with stable finances and a good credit score, the typical rates are in the range of 1% to 5% depending on your credit history. Your exact bond cost is set once you provide full information about your personal and business finances.
Why Bond with All State Bonds
- Affordable rates, No Hidden Fees
- Experience, in business since 1988
- Great Service
- Fast approvals and same day service
- Free price quotes, with an obligation to buy
- Friendly staff