Colorado Motor Vehicle Buyer Agent Bond Guide
If you’re applying for a motor vehicle buyer agent license in Colorado, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure buyer agents act in the best interest of their clients
- Who Needs It: All motor vehicle buyer agents in Colorado
- Regulating Body: The Department of Revenue, Auto Industry Division
- Required Coverage: $5,000
- Premium Rate: $100
Learn all about the bond requirements and process in this guide.
What Is a Colorado Motor Vehicle Buyer Agent Bond?
A Colorado vehicle buyer agent bond is a type of license and permit bond. It holds buyer agents financially responsible for following all license rules and acting in the best interest of their clients.
How Much Do Motor Vehicle Buyer Agent Bonds Cost?
A $5,000 Colorado vehicle buyer agent bond costs a flat rate of $100. Or, you can save 25% by selecting a multi-year term.
Click below to buy your bond in minutes!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Motor Vehicle Buyer Agent Bond?
The Colorado Department of Revenue, Auto Industry Division requires this bond as part of the licensing process for motor vehicle buyer agents in the state.
This includes any person who is hired to help consumers with the purchase or lease of a motor vehicle. Motor vehicle dealers are not included.
How Do I Get My Bond?
With SuretyBonds.com, you can buy your Colorado vehicle buyer agent bond instantly online. Just enter your information and checkout in minutes.
We’ll email you the bond shortly after purchase. Be sure to file it with the Auto Industry Division as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Colorado Motor Vehicle Buyer Agent Bond Work?
A vehicle buyer agent bond creates a legal contract between these three parties:
- Principal: You, the motor vehicle buyer agent filing the bond
- Obligee: The Colorado DOR’s Auto Industry Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding state licensing laws and regulations established by the Motor Vehicle Dealer Board.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you must ultimately refund the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your vehicle buyer agent bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
