Motor Vehicle Leasing License

About

License to engage in the business of leasing motor vehicles for a period exceeding 60 days.

Code Citation IC 321F, 761 IAC 430

Who Applies Any person wishing to engage in the business of leasing motor vehicles in this state for a period of more than 60 days must obtain a leasing license. (A leasing license is required for persons engaging in the business of leasing motor vehicles for use by others for compensation for a period of more than sixty days.)

When To Apply Application must be made and a license issued before leasing begins.

Initial Requirements If the leaser grants the option to purchase the vehicle, then a restricted motor vehicle dealer\’s license is also required. For more information on the restricted motor vehicle dealer\’s license, call Vehicle Central Programs at 515.237.3156, or visit our website at https://iowadot.gov/mvd/buyingselling/Dealers.

Duration Licenses are valid until the end of even-numbered years and must be renewed.

Processing Time The department has 30 days to review all license applications.

Fee Structure License: $30

Renewal Requirements Renewal applications will be mailed in October prior to the expiration at the end of December.

Exam N/A

Additional Information Any person wishing to engage in the business of leasing motor vehicles in this state for a period of more than 60 days must obtain a leasing license. (A leasing license is required for persons engaging in the business of leasing motor vehicles for use by others for compensation for a period of more than sixty days.)