You are legally allowed to sell up to 5 vehicles a year in New York if those vehicles are titled in your name and used primarily for personal, family, or household use.
If you wish to flip cars for a profit in New York, then the NY Department of Motor Vehicles requires you to get a New York Dealer License.
Not sure if you need a dealer license? Check out this post on selling cars without a license.
To get a New York Dealer License, you’ll need to complete an NY Dealer License Application, get a Sales Tax ID Number, purchase insurance, secure a surety bond, and provide other necessary documents and fees.
Concerned about money? See what you’d pay for a New York Dealer Bond, now!
The bond amounts are as follows:
You will pay somewhere between 1-15% of the total bond amount, based on your personal credit. This would be per term. You will not pay this fee monthly.
The best way to see what you’d pay is to get a free quote:
If you are not approved for an NY Dealer License, the $450 fee will be refunded to you.
Mail or bring your NY Dealer License forms, documentation, and NY Motor Vehicle Bond to the Commissioner of Motor Vehicles.
Bureau of Consumer and Facility Services
Attention: Application Unit
P.O. Box 2700
Albany, NY 12220-0700
Wait for the Commission of Motor Vehicles’ to process your NY Used Dealer License application. This could take up to 4 weeks.
Be prepared for a automotive facilities inspector (AFI) to interview you and inspect your dealership premises during this waiting period. Not sure what to expect at your dealership inspection? Read this.
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