Does every Florida car dealer need an MV/RIS license?

No. The license applies when a dealer sells motor vehicles to retail buyers through retail installment transactions. A dealer that accepts full payment and does not enter into a retail installment contract may not need this license solely for that sale.

Do I still need an MV/RIS license if I assign the contract to a finance company?

Do not assume assignment removes the requirement. If the dealership enters into the retail installment contract as the seller and then assigns it, the dealership has participated in the retail installment transaction. Confirm the proposed structure before offering financing.

Is an MV/RIS license the same as a Florida dealer license?

No. FLHSMV licenses the dealership, while the Florida Office of Financial Regulation licenses motor vehicle retail installment sellers. A business may need both licenses.

When does a dealer need an MV/RIS branch license?

OFR states that a subsequent location in another county must be filed as a Motor Vehicle Retail Installment Seller Branch. Florida law generally requires only one license for multiple locations in the same county.

Planning Buy Here, Pay Here? When Florida Dealers Need an MV/RIS License

August 3, 2026 • DCS Team

florida licensing finance buy-here-pay-here compliance

Offering customers weekly, biweekly, or monthly payments can make vehicles accessible to more buyers. It also creates a separate licensing question. A Florida dealer that sells and finances vehicles through retail installment contracts generally needs a Motor Vehicle Retail Installment Seller license, commonly called an MV/RIS license.

This license is issued by the Florida Office of Financial Regulation (OFR). It is separate from the dealer license issued by the Florida Department of Highway Safety and Motor Vehicles (FLHSMV).

Disclaimer: This content is for informational purposes only and does not constitute legal or financial advice. Financing structures and requirements can vary. Confirm your specific arrangement with OFR or qualified counsel before offering installment sales.

Key points in 30 seconds

Buy Here, Pay Here dealers that accept deferred payments from retail buyers generally need an MV/RIS license.
Using an outside lender does not answer the question by itself. The important issue is who enters into the retail installment contract as the seller.
A dealership that originates a contract and immediately assigns it should not assume that assignment eliminates its licensing obligation.
A company that purchases retail installment contracts from other dealers may need a Sales Finance Company license instead.
OFR requires a branch filing when an additional financing location is in another county.

What an MV/RIS license covers

Florida law defines a motor vehicle retail installment seller as a person in the business of selling motor vehicles to retail buyers in retail installment transactions. In a typical transaction:

The customer buys a vehicle from the dealer.
Part of the purchase price is deferred.
The customer agrees to make one or more future payments.
The dealer retains a lien or other security interest in the vehicle under the retail installment contract.

The category includes more than passenger cars. OFR states that the license can apply to firms that sell and finance automobiles, trucks, trailers, recreational vehicles, motorcycles, and mobile homes.

When Buy Here, Pay Here requires the license

A traditional Buy Here, Pay Here dealership sells the vehicle, provides the financing, holds the retail installment contract, and collects the payments. That is the clearest example of activity requiring an MV/RIS license.

The payment schedule does not have to be long. A transaction may fall within the statute when a retail buyer pays any portion of the deferred payment price in one or more future installments. Calling the arrangement a payment plan instead of financing does not change what the transaction does.

How outside financing changes the analysis

The phrase “outside financing” can describe several different arrangements. Treat them separately.

The customer brings financing directly to the dealership

Suppose a bank or credit union lends money directly to the customer and pays the dealership in full at closing. If the dealership does not enter into a retail installment contract with the buyer, the dealership may not need an MV/RIS license solely because the buyer used a loan.

Confirm who is identified as the creditor and seller in every document. The flow of funds and the contracts matter more than the label used by the salesperson.

The dealer originates the contract and assigns it

Many dealerships sign a retail installment contract with the buyer and then assign that contract to a bank or finance company. Do not assume that a same-day assignment removes the dealer from the original retail installment transaction. The dealership may still be acting as the motor vehicle retail installment seller when it enters into the contract.

Have OFR or qualified counsel review the program before the first financed sale. This is especially important when a finance partner supplies forms or describes its program as license-free for the dealer.

A company purchases contracts from other dealerships

OFR distinguishes an MV/RIS license from a Sales Finance Company license. The dealership that sells and finances vehicles generally falls on the MV/RIS side. A separate company that purchases retail installment contracts from one or more dealers may need a Sales Finance Company license.

Some regulated financial institutions have statutory exemptions. Do not apply another company’s exemption to the dealership without confirming that it actually covers the proposed activity.

MV/RIS license vs. Florida dealer license

These licenses regulate different parts of the business:

FLHSMV dealer license: Authorizes the business to operate as the applicable type of motor vehicle dealer.
OFR MV/RIS license: Authorizes the business to offer retail installment payments for vehicles it sells to retail buyers.

Holding one does not automatically include the other. A dealer planning to add in-house financing should review its OFR licensing before advertising payment terms or signing installment contracts.

When a branch license is needed

OFR uses the code MVB for a Motor Vehicle Retail Installment Seller Branch. OFR states that an additional location in a county other than the main office’s county must be filed as a branch.

Section 520.03, Florida Statutes, generally requires only one MV/RIS license when the seller has multiple locations in the same county. That does not mean a dealer can omit location information or conduct business under an unlicensed name. Review every additional location, county, legal entity, and fictitious name before expanding financing operations.

Before offering installment payments

Use this checklist before advertising Buy Here, Pay Here financing:

Confirm the dealership’s legal name, fictitious name, and physical locations.
Map the transaction from the buyer’s application through final contract assignment.
Identify who appears as seller, creditor, holder, and assignee on each document.
Determine whether the dealership needs an MV/RIS license and whether another company needs a Sales Finance Company license.
Check whether an additional location requires an MVB branch filing.
Apply through OFR’s online services and wait for approval before conducting licensed activity.
Use compliant retail installment contracts and give the buyer an exact copy.
Establish procedures for cash-payment receipts, account records, and lien satisfaction after payoff.
Train every employee who quotes payments or prepares financing documents.

Common mistakes

Advertising weekly payments before the appropriate license is active.
Assuming a dealer license automatically authorizes in-house financing.
Assuming immediate assignment to a finance company eliminates the dealer’s role.
Using a contract for one legal entity while the dealer license belongs to another.
Opening a financing desk in another county without reviewing the branch requirement.
Failing to give the customer a complete copy of the signed contract.
Treating cash receipts and lien releases as informal bookkeeping tasks.

Quick FAQ

Does every Florida car dealer need an MV/RIS license? No. The license applies when a dealer sells motor vehicles to retail buyers through retail installment transactions. A dealer that accepts full payment and does not enter into a retail installment contract may not need this license solely for that sale.
Do I still need an MV/RIS license if I assign the contract to a finance company? Do not assume assignment removes the requirement. If the dealership enters into the retail installment contract as the seller and then assigns it, the dealership has participated in the retail installment transaction. Confirm the proposed structure before offering financing.
Is an MV/RIS license the same as a Florida dealer license? No. FLHSMV licenses the dealership, while OFR licenses motor vehicle retail installment sellers. A business may need both licenses.
When does a dealer need an MV/RIS branch license? OFR states that a subsequent location in another county must be filed as a Motor Vehicle Retail Installment Seller Branch. Florida law generally requires only one license for multiple locations in the same county.