I am planning to becoming a FL car dealer one of the requirement is lot insurance.What's the min. lot size?

Question

I am planning to becoming a FL car dealer one of the requirement is lot insurance.What's the min. lot size?

Answer 1

I would contact the building dept of the city in which you want to build your lot.  Also take into consideration the number of cars you need to keep on hand in order to give your potential customers a good selection.

Answer 2

License Types

There are four classes of licenses issued to motor vehicle dealers. They are:

Independent Dealer--for a person dealing in used motor vehicles only. This license permits the licensee to transact business at retail or wholesale.

Franchise Dealer--allows the licensee to sell new motor vehicles under an agreement with a manufacturer. This license also permits the licensee to sell used motor vehicles.

Wholesale Dealer--licensees may only buy from, sell to, and deal at wholesale with other licensed dealers.

Auctions--are licensed to sell, on behalf of licensed dealers, through the bid process. Auctions may not sell retail.

Application

Before going into the business of selling motor vehicles, a person must submit a completed application, with required documentation and fees. License applications may be obtained from any Division of Motor Vehicles' regional office.

General DMV Requirements

Approval of business location by a DMV representative.

Completed application form.

Fee of $300 for each main location.

$25,000 surety bond or letter of credit.

Garage liability insurance.

Copy of lease for location or proof of ownership.

Dealer training seminar certificate.

Registration of fictitious trade name.

Copy of corporate papers.

Sales tax number.

Federal employer identification number.

Fingerprints and applicable fees. ($53.25 per person).

More Information

If you have questions about application procedures and licensing requirements, contact the DMV regional office.

Says nothing about a minimum lot size.