![]() You’ll then have to submit it in the official bond form. You can begin the online application for your Tennessee auto dealer bond online right away. It ensures you will comply with all Tennessee motor vehicle dealer laws in your operations. You’ll have to obtain a $50,000 dealer surety bond to complete your licensing process. If you’re applying for a franchise deale r license, you’ll have to obtain franchise agreemen ts from the Manufacturers or Distributor s of the product or line-make. Obtain Franchised Vehicle Dealers Documents In addition, the principal owner, directors, and all persons who own more than five percent (5%) of the company will need to fill out the financial background disclosure form. The statement should demonstrate you meet the minimum net worth requirement of $10,000. It should be prepared by a Certified Public Accountant (CPA ) and should be dated within the last 12 months. You’ll need to present a compiled financial statement in the name of your business. You must also be open at least 12 hours a week, at least 8 of which must be between Monday and Friday. You must have written verification of your zoning compliance in the form of a letter of approval, written by the local zoning or land-use authority for your business location. If you don’t have a mechanical repair facility on site, you’ll have to provide a Service Agreement with an operation repair garage located nearby. You should include photos of all of these in your application, including photos providing a “street view” showing the building in its entirety, and all entrances and exits. A landline telephone, with the phone number visibly displayed on the dealership window or sign, and which is available in the local directory.Permanently installed business signage with letters a minimum of 8 inches in height including your full dealership name.Written approval from th e local zoning or land-use authority for your business location. ![]()
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