How to Obtain a Car Auction License in Texas
Surety Bond Professionals is a family-owned and operated bonding agency with over 30 years of experience. With access to a broad range of surety markets, our expert agents are ready to assist with all of your Texas car auction license bond needs. Learn how to obtain a car auction license in Texas, below. What Is a Texas Car Auction License? The Texas DMV issues several different types of dealer licenses. In order to sell used vehicles at auction, you’ll need to become licensed as a wholesale auction dealer, which has its own GDN, or General Distinguishing Number. Only dealers with a wholesale auction GDN may hold a wholesale (dealer-to-dealer) auction. Licensed motor vehicle dealers may sell their own inventory at auction on their own lot, but they must use an auctioneer who is licensed by the Texas Department of Licensing and Regulation. What Are the Steps in the Licensing Process? Several pre-licensing requirements must be met before you apply for any Texas car dealer license. For example, you must set up your business, whether you’re going to operate as a sole proprietorship, LLC, partnership, or corporation, and register it with the Texas Secretary of State. You must also establish...
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