Buyer Agent - Auto Industry Division

A buyer agent is any person that is retained or hired by a consumer for a fee or other thing of value to assist, represent or act on behalf of a consumer in purchasing or leasing a motor vehicle. A person whose business includes the purchase of motor vehicles primarily for resale or lease (i.e. a motor vehicle dealer) cannot be a buyer agent. Any person having an ownership or financial interest in or an employment relationship with a dealership cannot be licensed as a buyer agent. Licensed salespersons cannot obtain a buyer agent license because they receive compensation from a dealer. Buyer agents are strictly prohibited from being employed or receiving any fee from a dealer.
 
Definitions for Buyer Agent can be found in C.R.S. 44-20-102 (2.5).  Colorado Revised Statutes may be found on the Secretary of State website.
  • C.R.S. 40-20-102 (4) - Definition
  • C.R.S. 40-20-108 - Classes of License
  • C.R.S. 40-20-118 (8) - Fingerprinting Requirement

44-20-118 (8)(a) with the submission of an application for any license issued under this part 1, each applicant shall submit a complete set of fingerprints to the Colorado Bureau of Investigation or the Auto industry Division for the purpose of conducting fingerprint-based criminal history record checks. The Colorado Bureau of Investigation shall forward the fingerprints to the Federal Bureau of Investigation for the purpose of conducting fingerprint-based criminal history record checks. The Board or the Executive Director shall use the information resulting from the fingerprint-based criminal history record check to investigate and determine whether an applicant is qualified to be licensed. The Board or the Executive Director may verify the information an applicant is required to submit. The applicant shall pay the costs associated with the fingerprint-based criminal history record check to the Colorado bureau of Investigation.

All Auto Industry applications and forms require that a licensee use their FULL LEGAL name as shown on the applicants Driver License or Identification Card.

 
The following documents are required for a complete buyer agent application:
 
DETAILED EXPLANATION OF REQUIRED DOCUMENTS
  • Surety Bond with FULL LEGAL NAME  in the amount of $5,000.
  • Secure Verifiable Identification — A photocopy of an appropriate identification such as a Colorado Driver License. For more information visit the Secretary of State website.
  • Verification of Fingerprints (DR 2197) Form & Fingerprint Card. Ensure that 2 fingerprint cards are filled out completely and signed, bearing separately captured fingerprints.  The DR2197 - Verification of Fingerprints form must be filled out and signed by the person performing the fingerprinting.  Verification of fingerprints must be completed by the Auto Industry Division or any law enforcement agency that takes fingerprints. A fee will be charged by all agencies. Fingerprint are not required for additional or renewal applications.
  • Business documents — If filing as a: Limited Liability Company/Limited Liability Partnership/Corporation:
  • Certificate of Good Standing from the Colorado Secretary of State.
  • Constituent Filed Document. The Articles of Incorporation (corporation, nonprofit corporation, cooperative or cooperative association), Articles of Association (limited partnership association), Articles of Organization (limited liability company), Certificate of Limited Partnership (limited partnership) or Statement of Registration (limited liability partnership or limited liability limited partnership).

NOTE: You may visit the Secretary of State‘s web site at www.sos.state.co.us for further information.

  • Bylaws of the Corporation, operating agreement for a limited liability company, or the partnership agreement for any partnership.
  • Trade Name — If doing business in a name other than the corporate name, attach a copy of the Certificate of Assumed or Trade Name.
  • If foreign corporation, submit a copy of Certificate of Authority to do business in Colorado.
  • Court Records:
  • If the applicant has ever been charged with, convicted of, received a deferred judgment/sentence, or pled no contest, to any felony, full details must be provided including type of crime, date, place of conviction, sentence received, etc. Certified court records must be included with the application.
  • If the applicant has been charged with, convicted of, received a deferred judgment/sentence, or pled no contest, to any misdemeanor crime in the past ten years, full details must be provided including type of crime, date, place of conviction, sentence received, etc. Certified court records must be included with the application.
  • It is the applicant’s responsibility to provide rehabilitation information for their criminal convictions.
Written Correspondence — If you have anything you wish the Motor Vehicle Dealer Board to take into account or need to explain any licensing character, criminal character, or financial character issues please provide it with the application. Failure to disclose any licensing character, criminal character, or financial character issues in writing with the application is considered a material misstatement and may result in your license being denied. When in doubt provide an explanation.
 
You cannot hold a license issued by the Executive Director of the Colorado Department of Revenue through the Auto Industry Division if you have been convicted of a felony within the last 10 years of an Article 3, 4, or 5 if Title 18 of the Colorado Revised Statutes or any crime involving odometer, salvage, motor vehicle title fraud, or the defrauding of a retail consumer in a motor vehicle sale or lease transaction.

 See C.R.S. 44-20-121 (8) and C.R.S. 44-20-420 (8) 

  • Article 3 of Title 18 includes but is not limited to crimes against persons such as murder, assault, kidnapping, sexual assault, custody violation, menacing weapon, vehicular homicide, manslaughter, criminal extortion and enticing a child.
  • Article 4 of Title 18 includes but is not limited to crimes against property, arson, theft, burglary, robbery, criminal mischief over $500, criminal trespass in the 1st degree and unlawful transfer for sale (copyright infringement).
  • Article 5 of Title 18 includes but is not limited to fraud, forgery, criminal possession of a forged instrument or forging instrument, criminal impersonation, fraud by check (over $500), commercial bribery, bribery in sports and equity skimming.

Any license issued by the Executive Director of the Colorado Department of Revenue through the Auto Industry Division may be denied, suspended, or revoked if a material misstatement is made in an application for a license. A “Material Misstatement” means any false or misleading statement, omission, or misrepresentation regarding personal identification information, employment history, prior occupational licensing history, criminal background and history, including filings, indictments, municipal, misdemeanor, and/or felony convictions and deferred judgments.


LICENSE RENEWAL

The license and surety bond expire 12 months after the month of issuance. A renewal application is mailed to the licensee prior to the expiration of the buyer agent license. The renewal application must be completed and returned along with the renewal fee and a copy of the new bond (submit a copy of the bond) or continuation certificate. A courtesy grace period of 30 days is granted after the expiration date. In order to renew a current existing license, the Auto Industry Division must receive the renewal application prior to the license expiration date, after which a late fee will be assessed. A request for a license to be renewed after the expiration date and 30 day grace period requires a new original application, surety bond (submit a copy of the bond), and fee.

LICENSE RENEWALS

For additional information contact the Auto Industry Division at (303) 205-5604.