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How much does a Maine motor vehicle dealer bond cost?
The cost of a Maine motor vehicle dealer bond starts at $200 for the state-required 1-year term. Your exact premium will be provided after a quick application review based on the bond amount required for your license type. Apply now to get your free, personal Maine auto dealer bond quote!
How do I get a Maine auto dealer bond?
You can apply for your free Maine auto dealer surety bond quote online 24/7. Choose your total bond amount based on how many vehicles you sold last year or expect to sell this year if you're a new licensee. You must provide the following information for Secretary of State approval.
- dealership name
- business location city
- type of vehicles to be sold (used or new)
- number of vehicles sold last year
- dealer license number, if available
Once your payment is received, your official Maine motor vehicle dealer license bond documents will be sent to your email.
How fast can I get a Maine auto dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Maine vehicle dealer bond faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed Maine auto dealer bond delivery.
If you have questions about the Maine auto dealer bond process or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the auto dealer surety bond process so you can get back to running your business.
What is a Maine car dealer bond?
Maine Revised Statute §901 requires auto dealers to file a surety bond as part of the registration process to legally work in the state. These motor vehicle dealer bonds ensure auto dealers conduct business according to Maine Revised Statutes and all other relevant rules enforced by the Secretary of State. The statutes indicate the auto dealer bond amount is determined based on the prior year's sales. However, new/initial licenses should file a bond based on their projected sales.
Why is a Maine auto dealer bond required?
Bond form MVD-390 specifically protects the Maine Secretary of State as well as any individual, firm, or operation that suffers a loss due to a dealership's regulatory noncompliance. The issuing surety company will pay valid claims for losses up to the full bond amount. The dealer must then reimburse the surety company for any claims paid. Maine Revised Statutes requires all claims be filed within 3 years from the date of sale.
Who regulates licensing for motor vehicle dealers?
The Maine Secretary of State Bureau of Motor Vehicles enforces licensing regulations for auto dealers, including the surety bond requirement. If you have questions about the auto dealer license or the status of your business license application, you can contact the Dealer Section by calling 1 (207) 624-9000 ext. 52143 or emailing [email protected].
The Maine auto dealer bond is required to get a professional dealer business license. If you're trying to register a vehicle with a missing title, you need a separate Maine motor vehicle title bond.
How do Maine auto dealers file your bond?
If you're applying for your new or renewal auto dealer license in Maine, you can submit your business license paperwork and associated bond to the Secretary of State by mail.
Bureau of Motor Vehicles
29 State House Station
Augusta, Maine 04333
How do I update my motor vehicle dealer bond form?
If the Bureau of Motor Vehicles requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most commonly requested changes for the Maine car dealer bond include:
- dealer/dealership name
- business location city
How do I renew my Maine vehicle dealer bond?
You'll need to renew your Maine motor vehicle dealer bond before its 1-year term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond and dealer license in good standing with the Bureau of Motor Vehicles.
How do you get a dealers license in Maine?
To get your motor vehicle dealer license in Maine, submit your completed dealer license application packet with the following materials to the Bureau of Motor Vehicles.
- completed and notarized questionnaire
- completed background check
- current contact information
- all required fees (explained on application)
- proof of automobile liability insurance
- Maine surety bond in the required bond amount
- sales tax number as issued by the Maine Revenue Services
- partnership agreement or articles of incorporation (if applicable)
- copy of dealership location lease agreement (if applicable)
- notarized zoning form
- plot plan with accurate measurements
- dealer/title workshop completion (new applicants only)
Call 1 (800) 308-4358 to talk with a Surety Expert today.