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How much does a Connecticut motor vehicle bond cost?
Your Connecticut motor vehicle dealer bond cost will depend on the license type and bond amount you need. All premiums are billed annually for the state-required 1-year term.
- The $10,000 Limited Repairer Bond costs $100 for all applicants.
- The $15,000 Leasing or Rental Company Bond costs $150 for all applicants.
- The $25,000 General Repairer Bond requires an application review with costs starting at $250.
- The $60,000 Motor Vehicle Dealer Bond requires an application review with costs starting at $300.
How do you get a Connecticut auto dealer bond?
You can purchase your Limited Repairer Bond or Leasing Professional Bond online 24/7 with instant emailed bond delivery. You can apply for your General Repairer Bond or Motor Vehicle Dealer Bond online 24/7 to get your free, personal quote after a quick application review.
You'll need to provide the following information for Department of Motor Vehicles approval.
- dealer/dealership/repairer/leasing/rental licensee name
- physical business address
- license type
- dealer license number, if available
How fast can I get a Connecticut auto dealer repairer or leasing bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Connecticut auto dealer repairer or leasing bond faster than any other surety provider. We offer 24/7 instant email delivery for limited repairer and leasing company bonds. Orders placed by 4 PM CST Monday-Friday for motor vehicle dealer or general repairer bonds are typically processed with same-day emailed delivery.
If you have questions about the Connecticut auto dealer/repairer/leasing bond or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the bond process so you can get back to running your business.
What is a Connecticut auto dealer bond?
Connecticut General Statutes Chapter 246, Section 14-52 requires individuals applying as a licensed Connecticut auto dealer, repairer, or leasing company to file a surety bond. The state's official form K-158 is titled “Surety Bond - Motor Vehicle: Dealer Repairer/Limited Repairer, or Leasing/Renting. Co”, but it's more commonly known as the “Connecticut auto dealer, repairer or leasing bond” or just the “auto dealer bond.” The bond form specifically requires applicants and licensees to comply with all state and federal laws or regulations pertaining to their profession.
Why is the Connecticut auto dealer bond required?
If an individual or business that files this bond fails to fulfill their professional obligations according to state and federal laws or regulations, the surety company will pay valid claims as required by the Commissioner of Motor Vehicles up to the full bond amount. The bonded individual or business must then reimburse the surety company for damages paid.
If a dealership will issue vehicle registration on behalf of the Commissioner of Motor Vehicles, they must file a separate Connecticut motor vehicle registration issuance bond in addition to this license bond.
The Connecticut motor vehicle dealer bond is required for professional business licensing. If you're trying to register a vehicle with a missing title, you need a separate Connecticut certificate of title bond.
Who regulates licensing for auto dealers, repairers, and leasing professionals?
The Connecticut Department of Motor Vehicles enforces licensing regulations for auto dealers, repairers, and leasing professionals, including the state's surety bond requirement. If you have questions about your surety bond, license application, or license status, the DMV advises you email [email protected] or call 1 (860) 263-5405.
How do I update or change my licensed dealer, repairer, or leasing bond?
If the Connecticut Department of Motor Vehicles requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your auto dealer bond from SuretyBonds.com, email our customer service team at [email protected] to explain the needed change.
The most common changes requested are the business name or address.
How do I renew my Connecticut auto dealer, repairer, or leasing bond?
You must renew your Connecticut motor vehicle dealer, motor vehicle repairer, or motor vehicle leasing or rental company bond before its current 1-year term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond active for your next license term.
How do I apply for a Connecticut vehicle dealer, repairer, or leasing license?
To become a licensed motor vehicle dealer, motor vehicle repairer or motor vehicle leasing company, applicants must mail the following documents to the DMV Dealers and Repairers Unit.
- copy of driver licenses
- franchise certificate (if applicable)
- copy of CT State Sales Tax permit
- CT Financial Responsibility Insurance Certificate (Form R1325e)
- copy of Miscellaneous Industrial Users General Permit (MUI GP) Notification Form and Attachment A
- surety bond in required total bond amount
Department of Motor Vehicles, Dealers and Repairers Unit
60 State St. Room 102
Wethersfield, CT 06161-2011
License applicants must also have the following.
- prepared site drawing
- waste oil disposal certificate letter
- trade name certificate (if applicable)
- vehicle storage rates requirement application on file with the DMV
- required signage
What can dealers do to avoid claims against the Connecticut auto dealer bond?
To avoid claims against your bond, you must comply with all applicable state and federal laws and regulations while operating your business as outlined on the bond form. If you fail to do so and your surety company pays out claims, you will be required to reimburse the surety company for the full amount they paid.