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How much does a motor vehicle salesperson bond cost in Colorado?
The Colorado Department of Revenue requires motor vehicle and powersports salespeople to submit $15,000 surety bonds prior to conducting business.
SuretyBonds.com issues these bonds instantly for just $90. Simply click Buy Now to purchase your bond online via our secure bond checkout. In just a few minutes, you can be on your way to getting bonded as a motor vehicle or powersport vehicle salesperson in Colorado.
Please note this bond is for individual salespeople employed by dealerships, NOT for motor vehicle dealerships themselves. Find more information about motor vehicle dealer bonds here.
Why do I need this bond?
Colorado motor vehicle salesperson or powersports vehicle salesperson bonds ensure that principals (vehicle salespeople) perform all duties according to law. The bond protects the state and consumers from financial loss that results from the principal’s violations of any provisions of part 1 and/or part 5 of Title 12, Article 6 of the Colorado Revised Statutes up to the full bond amount.
What’s the fine print?
Motor vehicle and powersports salesperson bonds in Colorado can be canceled by the surety for any reason provided by statute by filing written notice of cancellation with both the principal and the Director of the Department of Revenue at least 45 days prior to the effective cancellation date. If, however, cancellation is based on nonpayment of premium, the surety can cancel the bond with only 10 days’ written notice.
How to become a motor vehicle salesperson in Colorado
In Colorado, salespeople are required to be licensed to a motor vehicle dealer. You must first find a dealer who wishes to hire you, and that dealer must complete page seven of your application.
To become licensed as a salesperson in Colorado, applicants must submit the following materials:
- Application (DR 2115)
- License fee
- Mastery Examination Affidavit (DR 2097)
- Surety bond
- Secure verifiable identification
- Affidavit – Restriction on Public Benefits (DR 4679)
- Certified court documents (if applicable)
- Additional documents applicant feels useful to Colorado Motor Vehicle Dealer Board
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