ACV facts & figures
If you want to open a vehicle dealership in Wyoming, you will need to apply for a dealer license. This process requires many steps, from registering your business with the state to getting a background check. To help you stay organized, we’ve compiled a checklist for you to follow so you can get licensed and operating as quickly as possible.
6 Steps to Getting Your Wyoming Dealer License
1. Pick a Dealer License Type
When you set out to apply for your dealer license, the first thing you need to do is choose which type you need. In Wyoming, the Department of Transportation (DOT) is the licensing body, and they break down the license types into the following categories:
- New vehicle dealers
- Used vehicle dealers (for less than 12 sales per year)
- Used vehicle dealers (for more than 12 sales per year)
2. Register Your Business With the State
Once you’ve chosen which dealer license you’re applying for, you will need to register your business with the state to proceed with the application process. This step means registering online with the Secretary of State and Department of Revenue. Note that the registration fee for an LLC or a corporation is $100.
Additionally, you need to complete a sales and use tax application through the Department of Revenue, which entails a $60 fee.
Last, register for a Federal Employer Identification number with the IRS.2
3. Used and new dealers must establish a location for the business
Next, if you plan to sell used or new vehicles, you will need to set up a business location. This step must also be completed before applying for your license. It is important to keep in mind that there are many requirements your business location must meet, so ensure your establishment has the following:
- A permanent structure that is not a residence
- Storage for daily records of inventory.
- Enough space to have 5 vehicles on display
- An exterior sign that says what the business is and is clearly visible from the street
- A landline with a listed number
You will also need to provide a letter of approval showing that the property meets all local zoning rules.
4. Pass a Criminal Background Check
Any owner of the business will need to complete the state’s Vehicle Dealer Background Check Supplemental Information Questionnaire. You must also include fingerprints with the questionnaire; there may be a separate fee for this. When planning your application, know that this part may take up to 30 days, so leave enough time since your application cannot be approved without this completed step.3
5. Get an Auto Dealer Bond
To operate a dealership, you will need to have a bond worth $25,000. But make sure you don’t execute your bond until your license is approved. Keep in mind that you will not need to pay this full amount; you will only owe a portion based on your financial standing.
6. Submit All Paperwork & Fees
In addition to everything mentioned above, you will also need to provide a few more documents:
- Color photos of your dealership including the sign and display area
- A copy of the lease for the business location
- Copies of franchise service agreements if you’re a new dealer
Now that you’ve completed all the required steps, it’s time to pay your fees and submit the final application. The fees are $100 for any dealer who sells more than 12 vehicles per year, or $25 for any dealer who sells fewer. Submit your payment and all documents to:
Attn: Motor Vehicle Services
5300 Bishop Blvd.
Cheyenne, WY 82009
Once you get your license, you will need demo or manufacturer plates ($25) or full use plates ($125). Your license will be valid for one year, and you will need to renew with the DOT.
This is not intended as legal advice. If you have questions about dealer licensing requirements, please seek the assistance of legal counsel.
Count on ACV Auctions to Have the Best Used Car Inventory in Wyoming
Once you complete all the steps and finally have your dealer license, you’ll need to fill your lot with vehicles to sell. Partner with ACV Auctions to access the best used car inventory in Wyoming and across the U.S. Every vehicle on our platform is inspected by an experienced member of our team, and we provide thorough reports for each one, so you know exactly what you’re getting. Get started today and launch your business.
- Lance Surety Bonds. (2023). “The Full Wyoming Dealer License Guide.” Risk Strategies: Lance Surety Bonds. Retrieved December 8, 2023. https://www.suretybonds.org/blog/wyoming-dealer-license
- Bryant Surety Bonds. (2019). “How to get a Wyoming dealer license” Bryant Surety Bonds. Retrieved December 8, 2023. https://www.bryantsuretybonds.com/blog/how-to-get-your-wyoming-dealer-license
- JW Surety Bonds. “Wyoming Auto Dealer License Guide.” Risk Strategies: JW Surety Bonds. Retrieved December 8, 2023. https://www.jwsuretybonds.com/states/wyoming/auto-dealer-license
Aug 30, 2023