Dealer Licensing in Arkansas
Auto dealers must be licensed to buy and sell cars in Arkansas. After the initial application process, the renewal of your license is simple and easy. The application process does take time because the Arkansas State Police and the Department of Finance and Administration ensure you follow state guidelines for the consumer's protection.
You'll need to complete the dealer application form and submit it to the Regulatory Services Section , a division of the Arkansas State Police.
Along with your application, submit:
- Surety Bond for $25,000 (the actual premium will only be a few hundred dollars)
- Picture of Business Site and business sign
- List of Owners and Sales Force
- Proof of Liability Insurance
At some point during your application process, the Arkansas State Police will visit the business site. They will inspect your location, signage, filing system and documentation process and even confirm your telephone listing.
If your business is in compliance with Arkansas's rules and regulations, the inspector will submit an affidavit to go along with your application.
Every vehicle you buy or sell must be well documented. Once you have passed the application process you will learn all the reporting requirements.
Keeping your dealer license is easy if you follow all the rules. Be sure to ask about anything you don't understand. Call the Regulatory Services Section at (501) 618-8600 for more information.