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Mississippi Motor Vehicle Dealer Bond

How much does an auto dealer surety bond cost in Mississippi?

All new, used and wholesale motor vehicle dealers in the state of Mississippi are required to post a surety bond in the amount of $25,000. If a principal intends to conduct sales at multiple locations throughout the state, there is an existing option to post a blanket bond of $100,000 that covers all locations in one rather than bonding each separate dealership individually.

The cost of your Mississippi motor vehicle dealer surety bond depends directly on your application and financial credentials.

If you need a surety bond for designated agent, please visit our designated agent bond page.

Bond Type Bond Amount Cost*
$25,000 Motor Vehicle Dealer Bond Single Location $25,000 Starts at $250 Apply Now
$100,000 Motor Vehicle Dealer Bond All Locations $100,000 Starts at $1,000 Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Why do I need this bond?

Motor vehicle dealer surety bonds are required in the state of Mississippi to ensure that the principal (vehicle dealer) operates within the confines of the law and pays all taxes, licensing fees and penalties that may be required. By posting this bond, the vehicle dealer also promises not to mislead or deceive customers through false advertising or any other deceptive statements regarding the sale or financing of a vehicle. Failure to maintain this bond could result in the revocation of a dealer’s license.

What’s the fine print?

MS motor vehicle dealers must remain in compliance with all conditions and provisions stated in the Mississippi Motor Vehicle Commission Law as well as Section 62-21-13 of the Mississippi Code of 1972.

How to become an auto dealer in Mississippi

In addition to posting and maintaining a surety bond, auto dealers in Mississippi must submit an application for dealer tags on a form prescribed by the Commission and pay all mandatory application and filing fees.

A link to the state’s full licensing requirements can be found in the “Additional Resources” section of this page.

Additional Resources

Mississippi Motor Vehicle Commission

MMVC Applications

Mississippi Code Title 63. Motor Vehicles & Traffic Regulations § 63-17-75. Licenses;  requirement, application and surety bond

Recent Amendments Require All Mississippi Auto Dealers to Post $25,000 Surety Bond

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