Motor Vehicle Sales Finance Act Renewal FAQ
- Where can I find the renewal application on your website?
Renewals are not available on our website. Renewals are sent electronically by DIFS in early to mid-April to the licensee’s contact email address on file with our office. Renewals are required to be received by DIFS no later than June 30 of each year.
- I didn't receive my renewal packet. How can I get another copy?
Send an email to DIFS-CFRenewals@michigan.gov to request a duplicate copy. Include the correct contact person’s email address to send all license correspondence.
- What happens if my renewal is incomplete?
An email will be sent to the licensee’s contact email address on file with our office, which notifies the licensee of any outstanding renewal items. All outstanding items must be resolved prior to the renewal deadline.
- If my renewal is postmarked after the June 30 deadline, will I have to reapply?
Yes. Your license will be terminated and a new application will be required.
- What is the fee to renew my Installment Seller license?
- What is the fee to renew my Sales Finance license?
Main Office - $150; Branch Office (within the same state) - $75
Depository Institutions (both in-state and out-of-state):
Main Office - $35; Branch Office - $35
- What if I have a name change, do I submit that information along with the renewal?
Yes. Please note any changes directly on the renewal application. Return your original license certificate to DIFS along with a $10 check made payable to the “State of Michigan” for the amendment fee.
- What if I have an address change, do I submit that information along with the renewal?
If the new location will be within the same city as your current license location please note the change directly on the renewal application and return your original license certificate to DIFS along with a $10 check made payable to the “State of Michigan” for the amendment fee.
If the new location will be outside the city where it currently is located, a new application is required. Submit a new application along with your original license certificate for cancellation.
- How do I check on the status of my license renewal?
To verify your renewal was accepted, you can visit our website at www.michigan.gov/difs and click on "Who We Regulate" under Quick Links. The date of the renewal will be posted if the renewal is accepted.
- What if I no longer need my license?
Return the original license certificate to DIFS with a signed and dated written notice to cancel the license.
- Will you be sending out a renewal license certificate?
No. The license certificate previously issued does not have an expiration date and is still valid.
- What if I have difficulty completing the renewal application?
Send an email to DIFS-CFRenewals@michigan.gov. Inquiries will be responded to within 24 business hours of receipt.
- Where would you like me to mail the renewal information? There are different addresses listed on the renewal application.
Either address listed is correct. Please mail all renewal documents to one address.
- The company has changed ownership. Is a new license required?
Yes. A new license certificate can be obtained by submitting a new application. Your old license certificate must be returned to DIFS along with a new application.
- Sales Finance Only: Does DIFS require the original bond for license renewal?
Yes. Except for in-state financial depositories, an original, signed continuation certificate or original, signed new bond should be mailed to DIFS. If you wish to send a new bond, the bond form can be found on our website (page 7 of the following link): http://www.michigan.gov/documents/difs/FIS_2311_532041_7.pdf.
The answers provided are not meant to be a substitute for legal advice.