Application OFR 520-01 lists four different types of licenses:

Motor Vehicle Retail Installment Seller — This license is required when selling and initiating a finance agreement on any vehicle requiring a tag.

Retail Installment Seller — This license is required when selling and initiating finance on other items such as warranties.

Sales Finance Company — This license is required for any business that purchases retail installment contracts from dealers licensed in Florida as motor vehicle installment sellers, retail installment sellers or home improvement finance sellers.

Home Improvement Retail Installment Seller — This license is required of any business involved in the financing of home improvements secured by mortgage or lien on real property.

For the purposes of this course we will be focusing on the Motor Vehicle Retail Installment license Chapter: 520 of the State of Florida Statutes, you need to obtain a Motor Vehicle Retail Installment Seller license if you are conducting sales and you initiate a finance agreement. Also, you need to obtain a license if you accept deferred payments, even when you are offering 0% interest, remember deferred payments is a financing arrangement.