Motor Vehicle Dealer, New

Exam

No exam

Education

None

Experience

None

Background check

None

A New Motor Vehicle Dealer is any person engaged in the business of selling, offering to sell, soliciting, or advertising the sale of motor vehicles, regardless of the medium used, or possessing motor vehicles for the purpose of resale, either on his or her own account or on behalf of another, either as his or her primary business or incidental thereto. Motor Vehicle Dealerships sell automobiles, trucks, commercial trucks, or RV type vehicles. Other Motor Vehicle Dealerships sell motorcycles, ATVs, LSVs, scooters, utility vehicles, and/or go cart type vehicles. Included is any person engaged in the business of selling, offering to sell, soliciting, or advertising the sale, regardless of the medium used, of commercial buses, school buses, or other multi-passenger motor vehicles, or possessing them for the purpose of resale. Requirements: 1) Must obtain a license issued by the Arkansas Motor Vehicle Commission. 2) Must have current Franchise Agreement or Sales and Service Agreement. 3) Must have Liability Insurance on all vehicles to be offered for sale. 4) Must have a dedicated display area inside building (minimum of 120 sq. ft.) 5) Must have service facility on dealership for motor vehicles and parts (minimum of 120 sq. ft.) 6) Must have a $50,000 Surety Bond (Motor Vehicle Dealerships for Automobile, Truck, Commercial Trucks or RV Type Vehicles) Or Must have a $25,000 Surety Bond (Motor Vehicle Dealerships for Motorcycles, ATVs, LSVs, Scooters, Utility Vehicles, and/or Go Cart Type Vehicles). No examinations required. Dealer License fee: $100.00, Used Branch License fee: $25.00