Motor Vehicle Dealer Bonds
Motor Vehicle Dealer. MVD. Auto Dealer. DMV.
✔ Low Cost Facilities
✔ All 50 States
✔ Dealers, brokers, recreational vehicle, motorcycle, watercraft, ATV, and even trailer dealers
QUICK AND EASY
International Sureties walks you through the available options for your bond depending on the type, state, amount, and other factors. The process is kept simple and easy – let us make your bond easy.
Our Specialists are ready to discuss and give you immediate feedback, or you can complete the fast and easy application by clicking the button below.
What is a Motor Vehicle Dealer Surety Bond?
A guarantee that you will play by the rules and perform your duties as a Motor Vehicle Dealer licensee.
Three party instrument by which:
- One party – SURETY
- Guarantees that a second party – PRINCIPAL
- Will perform an obligation or duty owed to a 3rd party – OBLIGEE
KEY POINT – the Surety guarantees that Dealer will abide by State law
How do I qualify for a bond?
Complete the application form on this page for a response within the next business day.
The fundamental surety underwriting elements apply for any type of surety bond.
Character – Are you a person of integrity?
Capacity – Are you experienced, knowledgeable, and capable of fulfilling your duties?
Capital – Are you capable of reimbursing the Surety in the event of a bond claim/loss?
How much does the bond cost?
Your premium rate will be a percentage of the bond amount.
There is no one-size-fits-all answer; however, we continuously maintain some of the best facilities in the country. Our exclusive bond programs available only through International Sureties are structured for a quick approval process and cost effective premiums.
What issues result in a Motor Vehicle Dealer Surety Bond claims?
State laws are designed to protect consumers from unscrupulous, fraudulent or unethical dealer actions including, but not limited to:
- Title fraud
- Odometer fraud
- Failure to report a sale
- Failure to pay sales tax
- Failure to pay off a trade-in vehicle
- Failure to pay State fees
- Warranty problems
- Misrepresentations about the condition of vehicles for sale
The bond guarantees that Motor Vehicle Dealer licensees will not do these things, and if they do violate specific statutes pertaining to their bond, the Surety will reimburse the State after an investigative claims process, and then the Surety will recoup the bond claim losses (including costs) from the Dealer.
What is a Surety Bond Rider?
A Bond Rider is an amendment made to the original bond issued. Riders are used to change or update the bond address, extend bonds, Principal name, etc. without fully replacing the bond.
What is my dealer bond amount / requirements?
Most states require Motor Vehicle Dealer Bonds, and amounts range from $10,000 to $100,000, depending on the license type and jurisdiction. The bond penalty, or bond amount, is available to the Obligee through a proper claims process, to protect wronged consumers and the State from dealers who violate statutes or break the laws.
For assistance with MVD Bonds, please contact one of our License & Permit Bond specialists:
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Call, email, or submit this form to get in touch so we can get you the bond you need.