How much does a used motor vehicle dealer bond cost in Massachusetts?
Used car dealers in Massachusetts must post a $25,000 surety bond to legally operate in the state. The cost of this bond is subject to underwriting, but applicants with strong financial credentials could qualify to pay as low as 1% of the bond amount, or just $250!
Bad credit? Don’t worry! SuretyBonds.com has a history of helping 99% of applicants get the bonds they need quickly, easily and accurately. Ready to get bonded? Start here!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Used Auto Dealer Bond||$25,000||Starts at $250||$250-750||$750+||Apply Now|
If you’re ready to get bonded, give us a call at 1 (800) 308-4358 or fill out our online bond request form. Our experts will walk you through each step of our fast and easy bonding process.
Why do I need this bond?
Massachusetts used car dealer surety bonds protect all people who suffer damages, as defined by Chapter 140, Section 58 of the General Laws as amended by Chapter 422 of the Acts of 2002, as a result of unlawful behavior from the principal (used car dealer). By posting the bond, the principal pledges to comply with the terms listed in the legislation above.
Getting a surety bond is easy when you choose SuretyBonds.com! Submit an online bond request to get a free quote.
What’s the fine print?
Massachusetts used auto dealer bonds are continuous until canceled. The surety can cancel the bond at any time by giving written notice to the state 60 days prior to the effective date of termination.
How to become a used motor vehicle dealer in Massachusetts
The Massachusetts Registry of Motor Vehicles does not license automobile dealers. Instead, Massachusetts General Law grants licensing authority to the individual cities and towns throughout the state. Applicants should contact the licensing board of the city or town where they wish to conduct business for more information.
Take the first step toward getting licensed by getting the used auto dealer surety bond you need. Our experts do all of the hard work for you so that you can focus on what matters most: running your business.
Ready to get started?