Rhode Island Car Dealer License Guide
In this article, we’ll walk you through everything you need to get a Rhode Island car dealer license. Surety Bond Professionals is a family owned and operated bonding agency with over 30 years of experience. Our expert agents are ready to assist with all your Rhode Island car dealer license bond needs. What Are the Different Types of Rhode Island Vehicle Dealer Licenses? The Rhode Island Division of Motor Vehicles (DMV) issues different types of licenses for dealers selling: Only new vehicles Only used vehicles Both new and used vehicles Motorcycles and mopeds This article focuses on the licensing of used car dealers. What Are the Steps in the Licensing Process? Before you can complete your license application, you’ll need to: Register your business with the IRS and get your Federal Employer Identification Number (FEIN). Obtain a retail sales permit from the Rhode Island Department of State. Register with the Rhode Island Department of Revenue. Obtain a local business permit if required. Establish a permanent business location and get it approved by the local zoning board and the Dealer’s License and Regulations Office. Purchase liability insurance and Workers’ Compensation insurance (if you will have employees). Purchase a $50,000 Rhode...
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