Below you will find a few free Sample pages of information found in our Dealer License Manual. If you would like to order the dealer license manual please click here.
An obvious requirement for obtaining a dealer license is to have a business name. Start thinking of one right now! There are two types of names you may choose: A fictitious business name or a non-fictitious business name.
Fictitious business name:
A fictitious business name is any name other than your own name. For example, "Lots-O-Lemons Auto" is a fictitious name.
Non-fictitious business name:
A non-fictitious business name is your own name, usually your full name only, but sometimes you can get away with your last name plus some other word. Examples are J. Hedjazi Enterprises, Hedjazi Motors, or J. Hedjazi Auto Sales.
Which type of name is better?
Fictitious business names have certain disadvantages. For example, if you choose a fictitious name, you may have to register your business name with the county. However, before you can do that, the county may require you to advertise your business name in a newspaper for a couple weeks. (This is a technicality to give anyone with the same name the opportunity to claim it.)
Bottom line: If you choose a fictitious name, you must generally pay to advertise the name in the paper and you must pay to register the name with the county (Under $100 for the whole process.)
After the advertising period you will receive a Fictitious Name Statement, which is required for certain transactions such as applying for a dealer license itself, applying for a business license, applying for a business bank account, applying for your bond and registering at dealer auctions.
On the other hand, if you choose a non-fictitious name, there is no need for a Fictitious Name Statement, and you pay nothing! You will also NOT have to carry around a Fictitious Name Statement wherever you go to prove you represent the business. Why? If your business name contains your personal name, there is no question you represent the business.
Bottom line: If you are impatient and want to start your business as soon as possible, you may want to use a non-fictitious name, because the whole process of registering a fictitious name may take 2 to 3 weeks, which adds time and money to the process of getting licensed.
Note: Many people do not mind the extra step of registering a business name and actually prefer fictitious business names.
Whichever name you choose, have fun. There is a certain element of excitement when it comes dreaming up business names!
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