Motor Vehicle Finance
Motor vehicle finance companies hold or originate conditional sales contracts that finance the purchase of a motor vehicle. (Minnesota Statute §53C.01 to 53C.14)
License applications and requirements are available below. Questions about the license requirements should be directed to 651-539-1705.
- Complete the Motor Vehicle Sales Finance Application (.pdf) and review the Annual Report (.pdf)
- $250 application fee for the principal place of business and $125 plus for each branch location.
- A biographical statement on each shareholder of 10 percent or more of stock, each director and officer, the proposed manager, and supervisor.
- Provide contract forms to be used and describe the method of accounting (precomputed or simple interest).
- Provide evidence of current workers' compensation insurance.
- Minnesota location
- Licenses issued under Minnesota Statute §53C.01 to 53C.14 expire annually on June 30.
- Renewal notices will be sent to licensees in May of each year.
- $250 renewal fee for the principal place of business and $125) for each branch location.
Changes to the License