Colorado Dealer Training Podcast
If you want to obtain an Colorado Dealers license all you need to do is submit a dealer application to the Colorado State Police, obtain a dealer surety bond form an insurance agency or bonding company, get insurance, have a building and lot, post a sign on you building and submit some photographs, , I am going to show you how to easily obtain your Colorado dealers license.
To obtain a Colorado dealer license you need a $50,000 Used Motor Vehicle Dealer Bond and the "Obligee" must be the Colorado Department of Revenue - Auto Industry Division
Get Your Free Colorado Dealer Bond Quote from Delus Johnson
I want you go in depth in the 6 Steps to an Colorado Dealers License
Step 1-Complete Application
The first thing you need to do to obtain an Colorado dealers
license is to complete an Colorado dealer license
application in it’s entirety.
Department of Revenue
Auto Industry Division
P.O. Box 17087
Denver, CO 80217-0087
Main Phone Number: (303) 205-5604
dor_dealers@state.co.us
If you make mistakes on the application it will be returned,
so you want to spend some time and ensure there are not
mistakes on the application.
A separate application must be submitted for each type of
license, entity change, change location or name change,
branch or subsequent dealer license.
If there is a change in business entity, after you become a
licensed dealer, a new application must be submitted with
all applicable paperwork, including a new bond and a new
dealer license number will be assigned.
You can download your application at the
www.Colorado.gov/Revenue/AID , lets take a look at an
Colorado dealers license application:
Step 2 Dealer Surety Bond
You must obtain a $50,000 dealers surety bond in order to
obtain an Colorado dealers license. The correct bond is
callsed a "$50,000 Motor Vehicle Dealer Bond" and the
obligee must be the "Colorado Department of Revenue-Auto
Industry Division". You bond is based on your credit
score. Regardless of your credit score, I can automatically
submit a bond quote to over 30 bond carriers to assist you
in finding the best priced bond based on your credit score.
Just click here to obtain your Free Colorado Dealer Surety Bond Quote
You can obtain your
Colorado dealer surety bond here
A bond ensures that you will operate your Colorado
Dealership with the highest level of ethical standards
Step 3-Statement of Financial Condition
Colorado
Statement of Financial Condition (DR 2114) — A
financial statement is required for the applicant and each
owner, member, or partner. If filing as a corporation or LLC
a financial statement is also required. We must know how the
corporation or LLC will be funded. All financial statements
must be completed on the
DR 2114.
No other financial statement forms will be acceptable.
Please do not list your
personal assets and liabilities with the corporation or LLC.
The corporation or LLC must have its own assets/liabilities.
.
Step 4-Building & Lot
You must have a building for your Colorado dealers license.
Your business building must be a permanent enclosed building
owned or leased by you, your lease can never end before you
dealers license epires. with sufficient space to display two
or more vehicles of a kind of vehicle you will be selling.
The established place of business must be devoted mainly to
the operation of your dealership
A dealer may use a trailer as you building but state law
requires you to remove the wheels.
A wholesale motor vehicle dealer may operate from a location
zoned for residential use.
Whether you are a retail dealer or a wholesale dealer you
must meet local zoning requirements. You can contact the
city hall or county court house’s planning a zoning division
to ensure the location you want to use as your dealership
meets all local zoning requirements for an Colorado Dealers
license. Applicants should contact their local city or
county office to ensure compliance with local zoning
ordinances.
Step 5 Business Sign & Photos
The sign must be permanently erected on the ground or
permanently attached to your business building. The sign
must indicate that the business of a motor vehicle dealer or
automotive recycler is conducted at or from the premises. I
want to repeat that: The sign must indicate that the
business of a motor vehicle dealer or automotive recycler is
conducted at or from the premises. banners will not be
accepted
A wholesale motor vehicle dealer or broker must erect a
permanent sign (no size requirement) at the entrance of the
place of business. The sign must state the business name and
indicate that the business of a wholesale motor vehicle
dealer or broker is conducted at or from the premises
You must also enclose photographs of your building including
photos of the business, sign, display lot, all 4 sides of
building, posted address & hours, office area,
Step 6 Sales Ta License
You must obtain a Colorado Sales Ta License before you can
obtain a Colorado Dealers license. You can easily obtain the
license buy completing form
CR0100AP
Step Number 7-Dealer Class
The State of Colorado is one of the many states that require
you to set through a training class before you can obtain
your Colorado dealers license. The class takes about 8 hours
and you do have to take an easy Mastery eam, which your
course provider will assist you with. There only one company
in Colorado that is approved by the state to provide your
mandatory training classes and they provide training in
Denver and Montrose. At this time they are charging $275
dollars for the training class.
Once you obtain your Colorado dealers license you must
display the license prominently, you are going to work hard
to obtain your Colorado dealers license, you are going to be
proud when you obtain your Colorado dealers license,
Colorado law requires that you display your dealers license
prominently when it is granted, don’t shuve it in some desk
drawer, or lock in in a vault, frame your official Colorado
dealers license and display it on the wall, all Colorado
dealers licenses must be displayed prominently
Once again here is some valuble contact information if you
are obtaining an Colorado dealers license for the first time
or if you currently have an Colorado dealers license:
Colorado Department of Revenue
www.Colorado.gov/Revenue/AID
Auto Industry Division
PO Bo 17087
Denver, Colorado 80217-0087
303-205-5604
dor_dealers@state.co.us
Colorado Dealers Licenses are granted by the Colorado Department of Revenue Dealer Board in Denver, Colorado.
To find out how to get an Colorado Dealer License, you can call the
Colorado Department of Revenue Dealer Board at 303-205-5696.
You will need to complete the following steps in order to obtain your Colorado Dealers License
1. Dealer Application
Download Colorado Dealer License Application
2. Financial statement: In order to obtain a
CO Dealers License the Colorado Dealer Licensing Board requires
a net worth of $50,000
Download Statement of Financial Condition
3. Credit Bureau Report: You must give the Colorado Dealer Licensing
Board a copy of your Credit Report before you obtain a
dealer license. You must have a credit score of 600
or higher to obtain a Colorado Dealer License. Contact
Experian for a copy of your Credit Report
4. Background Check: You must include a
Background Check with your Colorado Dealer License application.
Contact the Colorado Bureau of Investigation to obtain a
Background
Check
5. Place of Business Affidavit: You will need to include a
Place of
Business Affidavit with your Colorado Dealer License application.
Download a Place of Business Affidavit here
6. You must have an enclosed office with electricity and at least
one restroom before you apply for your
Dealer License
7.You must have space to display one or more vehicle
8. You will need to be open at least 12 hours a week
9. You must have a permanent business sign viewable from the nearest
roadway
10.Mastery Examination. You must take a test and score 100%.
You can download the test that you will be required to take
11. All business documents such as Articles of Incorporation, must
be included in your Dealer License Application packet
12. Any franchise agreement you have must also be included
13. Dealer Plate Affidavit. An application for dealer license plates
must be included.
Download a Dealer Plate Affidavit here
14. Colorado Sales Tax License. Please include your Colorado Sales
Tax License
15. All Fees. Make your check payable to the Colorado Department of
Revenue.
Click here view the Current Licensing Fees
16. Dealer Bond: You must include a bond in the amount of $50,000.
Click here to obtain
a Colorado Dealer Bond
If you have further questions about a Colorado Dealer License, you can call the Colorado Department of
Revenue Dealer Board at 303-205-5696.