Motor Vehicle Finance
Motor vehicle finance companies hold or originate conditional sales contracts that finance the purchase of a motor vehicle.
- Minnesota uses the Nationwide Multistate Licensing System (NMLS). Company/business entities applying for a motor vehicle finance license are required to use the NMLS.
- Please read Minnesota Statute §53C before applying for a Mortgage Originator (MO) license. Unlicensed activity may results in administrative action.
- Licenses issued under §53C expire annually on June 30. The renewal fee is $250 for each location of business.
- The Department of Commerce will send renewal notees to licensees in May of each year.
- Renewal is done through NMLS.