How much does a new auto dealer bond cost in Arkansas?
New motor vehicle dealers must post a $50,000 surety bond to become licensed. The premium you’ll pay for your bond is subject to underwriting, which means that the cost of your bond is based on your credit report. No matter your score, our account managers will work on getting your bond for as little as possible.
To get your free, personalized bond quote fast, give us a call at 1 (800) 308-4358, or contact us online now.
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|New Motor Vehicle Dealer Bond||$50,000||Starts at $500||$500-4,000||$4,000+||Apply Now|
Ready for your no-obligation quote? Complete a bond request form and one of our bond specialists will contact you to provide you with a free, personalized bond quote.
Why do I need this bond?
New vehicle dealer bonds protect indivdiuals who experience financial loss due to a dealer’s poor business practices. These bonds also ensure that the principal faithfully complies with all requirements stated in the A.C.A. Section 23-112-101. Violations under this Act include, but are not limited to:
- practicing fraud or misstating information on a license application
- failing to comply with any rules promulgated by the Commission
- failing to maintain license qualifications
- assisting an unlicensed person in a motor vehicle sale
- altering a certificate of title
For more information on new vehicle dealer bonds in Arkansas, contact an expert surety specialist online now. Our team will walk you through our simple bond process step-by-step.
What’s the fine print?
These bonds will remain in full effect unless otherwise canceled. If the bond is to be canceled, the surety must file a written cancellation notice with the Arkansas Motor Vehicle Commission 30 days prior to the termination date.
How to become a new motor vehicle dealer in Arkansas
New vehicle dealers must submit the following materials with their license application:
- copy of a signed dealer agreement
- notarized initial affidavit
- $50,000 surety bond
- proof of liability coverage
- color photos of lot & sign, showroom, and parts & services
- contact information sheet
- general and sales manager, sales personnel and F&I personnel license
- $100 application fee
Detailed licensing application information can be accessed in the “Additional Resources” section below.
New motor vehicle dealer licenses expire December 31.
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