How much does a motor vehicle salesperson bond cost in Colorado?
Motor vehicle and powersports salespeople in Colorado must post $15,000 surety bonds prior to conducting business.
SuretyBonds.com issues these bonds instantly without a credit check for just $150. Purchase your Colorado surety bond now!
All motor vehicle salespeople in Colorado must be licensed to a motor vehicle dealer. If you’re looking for information on motor vehicle dealer bonds in Colorado, click here.
|Bond Type||Bond Amount||Cost*|
|$15,000 Motor Vehicle Salesperson or Powersports Vehicle Salesperson Bond||$15,000||$150||Buy Now|
5 minutes and $150 is all it takes to purchase your Colorado surety bond when you choose SuretyBonds.com! Call 1 (800) 308-4358 or click here to get bonded instantly.
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.
The principal must reimburse the surety for any damages paid out.
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 7 of your application.
To become licensed as a salesperson in Colorado, applicants must submit the following:
- 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)
- other documents the applicant feels would be useful to the Colorado Motor Vehicle Dealer Board
Ready to get started?