Short Answer: There are no outright limits on the number of cars that can be registered under your name at any given time, but there are some insurance considerations and rules about how many cars you can sell in a given month or year. Rules vary by state; in general, if you plan to sell more than two cars per year, you may need a car dealer license.
How Many Cars Can You Have in Your Name?
There is no limit to how many cars you can buy or own at one time, and there is no limit on the number of cars that can be registered under your name. As long as you pay your taxes and have the appropriate insurance for all of your vehicles, you should be covered. You can own as many cars as you want, whether you have a large family, you’re starting a collection, or you’re parting out cars.
Insuring Multiple Cars
If you own several cars that all need to be driven, you will need to insure them. We spoke to agents at several major auto insurance companies in the U.S. to find out how to do this. In general, companies will allow you to insure four to five vehicles under the same policy. If you need to add additional cars, instead of losing your business to a competitor, most companies will allow you to open a second, heavily discounted policy to cover more cars. If you need to insure several cars, you should speak with an agent at your desired company to get an accurate quote.
Car Dealer License Requirements
If you are not just collecting or parting out cars — if you’re buying and selling vehicles outright — there are a few rules. Depending on where you live, if you sell more than a certain number of cars in a given time frame, you may need to apply for a car dealer license.
The rules regarding who needs to file to become a dealership (and when) vary by state. In general, if you are selling more than two cars per year, you may want to look into getting a dealer license. There are different types of dealership licenses and the specifics vary widely, so your best course of action is to check with your state Department of Motor Vehicles.
If your goal is flipping cars, be wary of “title hopping,” or buying and reselling a car without registering it in your name, thereby bypassing yourself as the seller. Most states have a grace period for how long you have to register your car once you buy it, but it is important to note that title hopping is a fraudulent and illegal practice. For more information, our article provides the how-to guide for flipping cars, including state requirements.
There is no limit on the number of cars that one person can own, and companies have provisions for insuring several cars, but there are some strict rules on the number of cars you can sell in a time period. These rules all depend on the state you live in and the type of cars you want to buy and sell, so make sure you are following all of your local laws by checking with the Department of Motor Vehicles in your state.