Generally, obtaining a Texas auction license is what all auto dealers should think about first. As it is a kind of permission for legally buying and reselling cars through bidding. To get ready for that permit in TX state, follow the steps and requirements, which are analyzed in this article.
If you have already decided to become a trader in TX, you had better get ready for passing through several steps. Those steps are enumerated below:
Before applying, you need to determine your preferred type. The latter are:
Once you have chosen your desired type, you can get ready for completing the request. You should send it and attachments by fax (at 512-465-4190) or mail to the Texas DMV.
After receiving your application, the state will process it. Whenever they check everything and find no false, you may get your permission within 2-3 weeks.
Alongside your application, you should also attach the fees. Besides the surety bond, you are also to pay the following fees:
Note: You can also pay these fees by credit card.
If you are not an experienced dealer, taking a 3-hour online training course for renewing is mandatory. But if you have experience of more than 2 years, you can renew your permit without this course. Thus, the training course is not difficult at all. You just need to watch videos for 3 hours on YouTube. At the end of the video, the official Texas trader permit renewing a certificate of completion will pop up on your screen. Then you should download it and submit it with your trader certificate renewal.
You will be informed about your renewal 75-90 days before your license’s expiration. If you do not manage to process your update in time, you will have to pay a late renewal fee in the amount of 50% of your application fee every 30 days.
Note: If you do not manage to submit your renewing application within 90 days, your existing certificate is to be revoked, and you are to start your licensure process as a newly started car trader.
Below you can find contact information for getting more details about the renewing process:
To conclude, every person, who is going to set up a business as an auctioneer, that is buy, sell or resell cars through bidding, must think of obtaining a trader certificate first. It allows a car dealer to work legally. Also, you can make comparisons with other states like North Carolina.