A $20,000 bond for new vehicle dealers; $10,000 for used vehicle dealers.

Dealers must be licensed by the State. Upon application, new vehicle dealers must submit the franchise agreement. Used vehicle dealers cannot sell new vehicles. Any person who sells five or more used vehicles in any twelve-month period must be licensed as a used motor vehicle dealer.

Dealer License Fee:

$10.00 for new vehicle deal­ers
$200.00 for used vehicle dealers
$100.00 for each additional place of business (new and used)