I am considering moving to Colorado and it seems that the licensing requirements are very strict. They said that my Georgia dealer license will not transfer over, and essentially I would be starting as a brand new applicant. The two main requirements for approval in Colorado seems to be a 700+ credit score and $100,000 net worth. Is this absolute with no way around it? Any advice from dealers who moved to Colorado or dealers already in Colorado would be appreciated. It seems like it's very hard to get a license there, which is really great for keeping the "bad" dealers out I guess.
holy.. thats worse than california when i was going to do it there.. skip colorado and come to arizona. laughable application process. never heard of them requiring a credit score. only when you get a bond but you can get a bond with a crappy score, you just pay more. it seems like colorado doesnt require a bond but their method is the credit score and 100k networth
i did see something on colorados site about a temporary out of state dealer permit
oops nevermind they ask for a 50k bond.
You are correct in the license requirements. In addition to the credit score and net worth, you also need to pass a background check. When you mail your paperwork in, there are also very strict requirements (no double-sided printing, no staples, etc).
Here are all the requirements, step by step.
I have no tips, but may the force be with you.