Used Car Dealership Memorandum of Association Generator
Generate a professional used car dealership memorandum of association covering company objects, share capital structure, subscriber details, and formation provisions.
Preview your used car dealership memorandum of association
This preview shows 2 of 5 sections. Your full generated document is significantly longer.
Prepared for
Apex Motor Sales
Preliminary
1. Name of the Company
Apex Motor Sales is the name of the company formed under this Memorandum (the "Company"). The registrar confirms the name is clear for registration. Apex Motor Sales may operate online listings platforms, vehicle finance brokerage, or warranty programmes under additional trading names, subject to statutory requirements.
2. Registered Office
The Company maintains its registered office in the jurisdiction of incorporation at the address notified to the registrar. The forecourt, showroom, and vehicle preparation bay may be at separate locations. Correspondence from the registrar, motor trade regulatory bodies, and consumer protection authorities shall be directed to the registered office. Any address change requires a registrar filing.
3. Incorporation and Governing Law
Apex Motor Sales is incorporated as a private company limited by shares under the applicable companies legislation. This Memorandum and the Articles of Association govern the Company. Consumer rights legislation, motor trade regulations, and financial conduct authority rules on vehicle finance brokerage also apply to the Company's operations.
Capital Structure & Liability
4. Liability of Members
Members of Apex Motor Sales are protected by limited liability. Their maximum financial exposure is the unpaid portion of their shares. Vehicle stock finance, premises lease commitments, warranty claim reserves, and advertising costs are Company obligations only.
5. Share Capital
5.1 Apex Motor Sales is formed with 2,000 ordinary shares at £1 nominal value, for a total of £2,000.
5.2 Each share confers one vote, equal dividend entitlements, and a proportionate interest in surplus assets on liquidation.
5.3 Additional shares may be issued to fund inventory expansion, showroom refurbishment, or development of an online sales channel. Pre-emption rights in the Articles must be honoured.
6. Transfer and Transmission
6.1 Transfers must comply with the Articles. Directors may refuse registration at their discretion.
6.2 Shares of a deceased or insolvent member transmit in accordance with the Articles and applicable law.
Subscribers & Initial Shareholding
The subscribers named below agree to form Apex Motor Sales, to take the shares indicated, and to be bound by this Memorandum. All confirm they have the legal capacity to act as subscribers.
Objects & Powers of the Company
Apex Motor Sales has unrestricted objects. Activities include the retail sale of used vehicles, vehicle preparation and reconditioning, finance brokerage, extended warranty provision, and online vehicle marketing.
General Provisions & Execution
Apex Motor Sales shall maintain accounting records, file statutory returns, and comply with motor trade and consumer protection regulations. Amendments to this Memorandum require a special resolution.
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Why used car dealership businesses need a memorandum of association
Incorporating a used car dealership business requires a memorandum of association that accurately defines the company's objects and powers for the used car dealership sector. The objects clause must be broad enough to cover all planned used car dealership operations while satisfying company registration requirements. Getting this wrong can restrict future business activities or create compliance issues with industry regulators.
The U.S. used car market exceeds $800 billion in annual sales.
Source: Cox Automotive
Used car sales outnumber new car sales by approximately 2.4 to 1.
Source: Edmunds
Average used car prices rose 35% between 2020 and 2023.
Source: Kelley Blue Book
What your used car dealership memorandum of association includes
Plus all standard memorandum sections
Frequently asked questions
What is a memorandum of association?
It is a legal document required when forming a company. It states the company's name, registered address, objectives, and the subscribers who agree to form the company.
Is this required for company incorporation?
In most jurisdictions, yes. The memorandum of association is one of the core documents required to register a new company.
Can I change it after incorporation?
Some clauses can be amended after incorporation through special resolutions. The specific process depends on your jurisdiction's company law.
Do I still need articles of association?
In most jurisdictions, you need both a memorandum and articles of association. Our platform can generate both documents.
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