Thinking of launching a car dealership in Colorado? The Colorado Auto Industry Division (AID) oversees dealer licensing, with specific requirements to ensure consumer protection and business credibility. Follow these steps to get licensed.
Minimum net worth of $100,000
Credit score of at least 701
Background check and fingerprinting required
Options: Franchised, Used, Wholesale, or Auction dealer
Permanent, commercially zoned location with office, signage, restroom, and space to display at least one vehicle
8-hour pre-licensing course through CIADA
Pass a mandatory dealer exam
$50,000 surety bond required
Complete DR2109 form and other required documentation
Provide financial statements and proof of insurance
State inspection to verify compliance with location and operational standards
Comply with license renewal requirements and maintain all business standards
After obtaining your dealer license, consider using Carprolive for all your automotive software needs. From managing your inventory and offering a professional dealership website to accessing a full print forms library and enabling e-signature capabilities, Carprolive is built to support new and growing dealerships every step of the way.
Please note: The contents of this article are subject to change with any regulatory or legislative updates. This article does not constitute legal advice. Always verify the information with your state’s regulatory agency before proceeding.
https://sos.state.co.us/pubs/autoIndustry/index.html
https://www.bryantsuretybonds.com/blog/how-to-get-colorado-dealer-license
https://www.suretybondsdirect.com/blog/colorado-dealership-license
https://www.acvauctions.com/blog/how-to-get-a-dealer-license-in-colorado