When you are granted a dealer’s license the state of Ohio is giving you an opportunity to enter a business field that can be quite lucrative, however, you MUST follow several sets of rules and guidelines.
All Ohio used motor vehicle dealers follow the laws
we discuss in your dealer class and the BMV has zero
tolerance for any dealer that does not follow the rules.
Any dealer that does not comply, or follow, the rules
can have their dealer’s license suspended or revoked.
Reasons for License Suspension or Revocation of a Used Motor Vehicle Dealer’s License:
If you ever allow some that is not an owner, partner,
officer, or licensed salesperson to sell a vehicle you
have violated a state law and could have your dealer
license suspended. If you ever pay a commission on a
vehicle that was sold by someone that was not a licensed
salesperson for you dealership, you would face license
You must immediately notify the BMV Dealer Licensing Section if you ever end the employment of anyone that works for you that is a licensed salesperson. Failure to do so could lead to a suspended or revoked dealer license.
If you do not maintain an established place of business during your entire period of licensure you could lose your license. You must maintain you lot, office, and building during the entire time you are licensed.
If you ever allow your office to become a storage space you could lose your license. You are also prohibited from allowing dirt, water, mud, debris, or weeds to accumulate on your display lot. Your dealer display lot must be kept clean.
You must notify the
BMV Dealer Licensing Section if you change owners,
business name, business hours, or phone number within 15
days or you could have your Ohio dealers license
suspended or revoked. Staying in contact with the
Ohio Dealer Licensing Section at all times will be
very beneficial to your dealership.
You must keep your dealer inventory insured at all times. If you have an Ohio dealers license, the State of Ohio expects you to maintain financial responsibility on your vehicles at all time.