Michigan Motor Vehicle Pool Use of Vehicle Authorization
Description
How to fill out Motor Vehicle Pool Use Of Vehicle Authorization?
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FAQ
If you want to sell more than five motor vehicles per year in the State of Michigan, you need to get a Michigan dealers license. The Michigan Department of State oversees the licensing process and has numerous requirements for licensed auto dealers.
A vehicle may not be sold, displayed, or offered for sale in Michigan unless the dealership has a properly assigned title or other ownership document (MCO/MSO) in its immediate possession.
A dealer license is required for the sale of trailers weighing over 2,500 pounds. A dealer license is also required for the sale of all trailers or campers requiring a certificate of title (e.g., trailer coaches or pick-up campers).
Generally, you are allowed to sell no more than four vehicles per year without having an auto dealers license under Department of Licensing (DOL) guidelines.
Class A, B and D dealers are required to post a Michigan surety bond before applying for a dealer license. The bonds give financial protection to the state and the public in the event they are damaged by the dealers' actions. The required bond amount for Michigan auto dealer bonds is $10,000.
Michigan Vehicle Code Section 257.248 requires individuals file a $25,000 surety bond as part of the licensed dealer registration process.
If you intend to sell, buy, lease, or broker five or more vehicles during a year, you are required to obtain a Michigan auto dealer's license. This license is required by the state for you to legally operate your business.
Follow these easy step by step requirements in order to obtain your Michigan Dealer License. Obtain Michigan Dealer Application. ... Apply for Michigan Sales Tax Number. ... Fingerprinting. ... Michigan Dealer Surety Bond. ... Michigan Dealer Insurance. ... Business Building. ... Vehicle Display Lot. ... Dealership Business Sign.
The State of Michigan requires all dealerships to maintain no-fault insurance with limits of 20/40/10 that covers for ?any vehicle? or ?all vehicles owned?.
You can sell up to five vehicles as per the authorities. If you want to sell five cars in a year then you are not liable to pay sales taxes, no license needed, and any other education-related to dealership required. The current law in CA will permit you to sell up to 5 vehicles in a year without a dealer license.
