Are you passionate about collecting cars or maybe you are looking to begin selling cars? You may be curious about the question, “how many cars can you have in your name?” It is normal to wonder how many cars you are allowed to have in your name at one time. If you are a resident of the United States, the answer is, that you can own as many cars are you would like. No limit.
However, there are lots of other factors that may limit the number of cars you can own. Keep reading to learn about some of the limitations such as insurance, state laws, space, and more to aid you in making a smart decision on how many cars you can have in your name!
One of the main things to think about when buying multiple cars is insurance. The majority of states require that you must have insurance and registration on each vehicle you own, regardless if it is being driven or not. Not renewing your insurance may invalidate the plate numbers, also making it illegal to be parked on the street.
This may also result in a gap in insurance use, potentially increasing your rates. Lots of insurance companies may offer packages for cars that are just parked and not being driven. They are decently affordable, along with lower rates for the lower miles.
In certain states, you are allowed to apply for status for a car that can not move, or will not move and may enable you to take the insurance off. First, check with your Department of Motor Vehicles in your specific state for the laws as they vary from state to state.
The Different States Have Different Insurance Procedures
California needs you to have insurance and registration on each and any vehicle on public property. This includes parked cars, driving, towing, and parking in a public garage. If you want to remove insurance from a car in California, it must be stored on private property permanently.
In South Carolina, if you don’t turn in your plate when you cancel the insurance, you may need to pay a reinstatement fee and other penalties if you want to take the car out on the road again.
In Pennsylvania, you must send your registration card and the registered plate to PennDOT if you have canceled the insurance on your car. You must also move it onto private property since a car cannot sit on the road without a license plate.
In Connecticut, you must store the car on private property and turn in your license plates if you want to remove the insurance.
Check with the state that you live in for laws on insurance procedures.
Space for Parking
The second thing to consider when purchasing multiple cars is how much space you have on your property. The greater space you have, the more cars you may be able to keep. You may need to consider having a storage facility of some sort for the vehicles. These are located all across the United States, making it convenient to find one near you if needed. A downfall to the facilities is they can get a bit pricy. One upside is that lots of them are private property, so it is possible you could drop the insurance rates. For sure think about how much space you have to keep a vehicle before purchasing many!
There are lots of local laws to consider before purchasing multiple cars. One example may be proper zoning. You might also need to get permission in writing from your neighbors if you intend to conduct business on your property. There are also many local laws about disposing of fluids that are toxic. These include gasoline and oil from your engine. Make sure to look into all your local laws before beginning the purchase of many cars and potentially starting a business.
Is There a Limit on How Many Cars You Can Sell in a Year?
Yes, there are limitations to how many cars you can sell without obtaining a license. So, while you may buy and own as many cars as pleases you, you must be careful about how many you sell in a given year. Once a state has named you a car dealer, then you must get a license. It varies from state to state, but most are going to require you to get a permit exceeding more than three or four car sales in a year.
How Many Cars Can You Have in Your Name: Conclusion
Luckily, there is no limit on the number of cars you can own, but you may potentially need to gain a dealer’s license if you have plans of selling the cars that you purchase. If the vehicles are going to be kept on public roads or property, they are likely going to need to have insurance but should be low costs. There are lots of things to consider when purchasing a new car!
We hope that you enjoyed learning about possible things to consider when purchasing cars.
Written by: Maria Comella