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How Many Cars Can You Have in Your Name? What You Need To Know!

house with two cars

If you are a car collector or are looking to sell cars, it’s common to wonder how many cars you can have in your name at once. If you live in the United States, you can own as many cars as you want. There is no limit. However, several other things can limit the number of cars that you can have, so keep reading while we discuss space, insurance, local laws, and more to help you make an informed decision.

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How Many Cars Can You Have in Your Name?

There is no limit to how many cars you can put in your name at one time, but there are a few things that can prevent you from having as many as you want, like insurance costs, space, and local laws.

Car Insurance

One of the biggest things to consider when purchasing multiple cars is insurance. Most states require you to have registration and insurance on every vehicle you own, even if you aren’t driving it. Allowing your insurance to lapse can invalidate the license plate, making it illegal to have parked on the street. It can also cause an insurance gap, which can raise your rates. Most money lenders will also require you to get insurance. However, many insurance companies offer parked car packages for cars that you aren’t driving that can be quite affordable, and you can usually get lower rates for the low mileage.

Some states allow you to apply for a special status for a vehicle that won’t or can’t move, which will enable you to remove the insurance. You will need to check with the Department of Motor Vehicles in your state for the specific laws that pertain to you.

house with vintage cars
Image Credit: JayMantri, Pixabay

Insurance Procedures in Different States

California requires you to have registration and insurance on any vehicle on public property, which includes parking, driving, and even towing and parking in a public parking garage. To remove the insurance from your car in this state, you must store it permanently on private property.

In Connecticut, if you want to store the car and remove the insurance, you need to store it on private property and send in your license plates until such time that you want to use the car again.

Pennsylvania asks that you send your registered plate and the registration card to PennDOT immediately if you cancel the insurance on your car. You will also need to move it onto the private property because a car cannot sit on the road without a license plate.

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.

Parked Car Insurance Cost

Parked car insurance provides less coverage than standard insurance but usually costs much less, in the $100 to $200 range, depending on the state you live in and the type of vehicle. The downside is that not all companies offer it, so you must check with yours to see what they offer.

What Does Parked Car Insurance Cover?

Parked car insurance is comprehensive insurance that protects your car while in storage. It’s almost the same as ordinary comprehensive insurance, except it doesn’t include liability and collision. The parked car insurance will protect your car from theft, fire, and flooding damage. It also protects the car from falling debris that can cause damage during a storm and even sideswipes if involved in a hit-and-run accident.

single family home with car
Image Credit: wolfields, Pixabay

Parking Space

The next thing to consider is how much space you have on your property. More space will enable you to keep more cars, but most people with several cars will require a storage facility of some type. There are storage facilities all across the United States, and a quick search on the internet will help you find one. The downside to these facilities is that they can get quite expensive, and depending on where you live, it can be a considerable trip to access them. The advantage is that many of these are private property, so you might be able to drop the insurance if the private garage has good coverage.

Local Laws

If you purchase multiple cars to fix and sell, there may be local laws to consider. For example, you might need the proper zoning and may also need to get written permission from neighbors if you intend to conduct business on your property. There are also likely local laws about the disposal of toxic fluids, like engine oil and gasoline, so make sure you check into all local laws before starting your business and purchasing cars.

home with multiple cars
Image Credit: salmanbutt8999, Pixabay

How Many Cars Can You Sell in a Year?

While you can buy and own as many cars as you would like, there are limitations to how many you can sell without obtaining a license. When any state determines that you are a car dealer, you will need to get a license, and the determining factor is how many cars you sell. While it can vary from state to state, most will require you to get a permit if you sell more than three or four cars per year.

Private Car Sale Limitations

  • Indiana allows you to sell up to 12 vehicles in 12 months before you need to purchase a dealership license.
  • Vermont also allows you to sell up to 12 cars per year before requiring you to get a license.
  • Pennsylvania only allows you to sell five cars per year before needing a license.
  • Wisconsin also allows you to sell five cars per year before needing a license.
  • Washington only allows you to sell four cars per year before you need a license.
  • Some states, like California, consider you a dealer even if you only sell a single car if your sole desire is to make a profit.

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Summary: How Many Cars Can You Have in Your Name

Fortunately, there is no limit on how many cars you can own, but you may need to apply for a dealer’s license if you intend to sell the cars that you buy. If you are going to keep the cars on any public roads or property, there is a good chance that you will need to keep them insured, but the insurance costs should be low due to the low mileage discounts that many companies offer, and some even offer parked car insurance that can save you money.

We hope you have enjoyed reading over this guide and feel better informed about this topic.


Featured Image Credit: ArtisticOperations, Pixabay

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