COST OF GETTING LICENSED Initial fee is $300. Fingerprints $39 per owner or officer. Ficticous Name $50. Sales Tax $5. Bonds about $375. Garage Liability $900 to $1800 or more depending on how many employees and what city. It may be financed with 25-30 % down. To become incorporated costs about $400. School costs $140 pre-paid in advance or $160 at the door. One day courses cost $70 in advance or $80 at the door..
TIMING OF LICENSE APPLICATIONS The most time consuming parts of getting a license are: Ficticious name... 10 days. Bond... 7 days. Garage Liability... 3 days. Turnaround time with DMV... 10 days. It may take longer or shorter depending on your particular case. How long you take on other items is up to you. No guarantees.
GARAGE LIABILITY INSURANCE Getting your insurance for a license is usually very easy. The state requires a minimum of $25,000 of garage liability insurance. The rates depend on items such as driving records, size of your city, number of employees and past loss records from previous insurance carrier, if any. DSI Agency can assist you in getting your insurance with a simple telephone call at (561)697-9000.
DEALER BOND APPLICATION How much trouble you have getting a dealer bond depends on you. Dealers with past experience and a good credit check will be approved easily. If you have less than 3 years active experience, you would be wise to include a resume about yourself. If your credit is not great, you would be wise to find a co-signer. Your DSI Agency representative at (561)697-9000 has companies that will supply bonds to you. If you get turned down, DSI can give you another company to try. Sometimes, even if you don't meet the insurance company's standards, you will be approved but for a lot more money instead of the standard $375.
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To return to MVDTI home Page Click Here. To register for a class, simply telephone us at (561)791-9511 or E-mail us at: mvdti@hotmail.com identify yourself and tell us which class you want to attend. |