1. Establish a Business:
- Verify your business name through the Virginia State Corporation Commission (SCC).
2. Obtain a Sales and Use Tax Certificate:
- Visit the Virginia Department of Taxation website and register your business. Get your Business Tax Number.
3. Complete Background Checks:
- Each applicant will need a background check through the Virginia Department of Motor Vehicles (DMV) and the Virginia State Police.
4. Find a Physical Business Address:
- You must have a physical office address. PO Boxes are not allowed.
5. Obtain a Business License:
- Depending on your location, check with the local government to obtain the required business license.
6. Set Up a Dealership:
- Your dealership must comply with all Virginia DMV requirements, signage, and space, so vehicles can be inspected by law enforcement.
7. Get Adequate Insurance:
- Purchase a surety bond of $10,000 from a DMV-approved surety. You also need general liability insurance.
8. Contact the DMV:
- Get the forms you need from the DMV, along with instructions on how to fill them out.
9. Pass the Used Car Dealer Exam:
- You'll need to take the Used Car Dealer Certification exam at a DMV Customer Service Center.
10. File the Application:
- Submit your application to the DMV with all required documents and fees.
11. Wait for the Review Process:
- Expect a review that can take up to 6 months before the DMV issues your license.
12. Open for Business:
- Once you receive the license, you can start operating your used car dealership.
