If you wish to flip vehicles for a profit in Virginia, you will need to get a Virginia Dealer License.
There are 11 different license types. Be sure to apply for the correct one.
How to get a Virginia Car Dealer License
Step #1: Complete a Virginia Dealer License Application
Inside the Virginia Dealer License Application you will find the basic application for your license and other requirements:
- Have your business up to zoning codes in your local area
- Have an offices space of at least 250 square feet
- Your office space will need to include basic furniture, utilities, and internet connection
- Make sure your business is open at least 20 hours per week and that 10 of those hours are between 9am. - 5pm. Monday- Friday. You will also need to make sure these hours are displayed prominently at your location
- Have space to display a minimum of 10 cars you plan to sell
You might need any, or all, of the following forms to complete the above requirements:
- Dealer Plate Application
- Certificate of Zoning Compliance
- Application for Certificate of Qualification/Salesperson's License
- Criminal History Check Data Form
- Dealer Operator/Salesperson Qualification Test Application
If you are worried about a previous felony on your record, check out this post "Getting a Dealer License with a Felony"
Step #2: Complete Dealer-Operator Training Course
All independent dealers are required to complete a training course before being licensed.
Cost for the course is $325.
Step #3: Purchase Virginia Motor Vehicle Dealer Bond
The bond amount is set at $50,000.
You will not need to pay the entire bond amount.
You will pay anywhere from 1-15% of the total bond amount ($500 - $7500).
Step #4: Pay Licensing Fees
- Dealer Certificate: $200
- Motor Vehicle Transaction Recovery Fund Paid annually for the first 3-years of operation: $350
- First 2 Dealer Plates: $60
- Additional Dealer Plates (each): $26
- Dealer-Operator/Salesperson’s Test: $50
- Salesperson’s License (each): $25
- Criminal History Background Check (each): $10
Step #5: Submit Application
License and Expiration