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How much does a Nebraska motor vehicle dealer bond cost?
Nebraska auto dealer bond costs start at $250 annually. State law requires these bonds expire annually on December 31st, so your exact premium will be based on when you purchase your bond. Apply now to get your free, personal auto dealer surety bond quote!
How do you get a Nebraska auto dealer bond?
You can apply for your Nebraska motor vehicle dealer bond online 24/7. Simply select which licensed dealer bond type you need and provide the following information for Motor Vehicle Industry Licensing Board approval.
- dealer/dealership name
- business location county
- dealer license number, if available
Once your order has been processed, you'll receive a digital copy of your Nebraska surety bond by email. Your official auto dealer surety bond will be delivered to your preferred address.
How fast can I get an auto dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver official Nebraska auto dealer bonds faster than any other surety provider. The Motor Vehicle Industry Licensing Board requires your Nebraska auto dealer bond be physically issued and shipped to you, so choose overnight shipping during checkout if you're in a rush. Orders placed by 4 PM CST Monday-Friday are typically shipped same-day.
If you have questions about Nebraska vehicle dealer bonds 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 bond process so you can get back to running your business.
What is a Nebraska motor vehicle dealer bond?
Nebraska Revised Statute 60-1419 requires individuals file a $50,000 surety bond before receiving a motor vehicle, trailer, wholesale, or motorcycle dealer license in the state. The bond form obligates licensed dealers to comply with the Nebraska Motor Vehicle Industry Licensing Act and protects consumers and dealers against losses, damages, and expenses resulting from a licensed dealer's noncompliance. The state-required form is officially titled “Bond: Nebraska Motor Vehicle, Trailer, Wholesale, or Motorcycle Dealer.”
Motor vehicle auction dealers must file a similar but separate $100,000 motor vehicle auction dealer surety bond before being licensed in the state.
Why is this Nebraska motor vehicle dealer bond required?
By filing this bond, auto dealers agree to operate their businesses according to Nebraska Revised Statutes. The bond form specifically protects consumers and other dealers from losses resulting from the following prohibited acts:
- substituting a vehicle or trailer after one has already been selected by a purchaser
- failing to provide a purchaser with a clear and marketable title
- misappropriating funds that belong to a purchaser
- deceiving a purchaser about a vehicle or trailer's year or model
- representing a vehicle or trailer in a false, fraudulent, or otherwise deceitful manner
If a licensed dealer does commit a prohibited act, harmed parties can file a claim against the bond. The issuing surety company will pay valid claims up to the full bond amount, which the bonded dealer must then reimburse.
Note this Nebraska auto dealer surety bond is required for dealer licensing. If you're trying to register a vehicle with a missing title, a separate Nebraska certificate of title bond is required.
Who regulates licensing for auto dealers?
The Nebraska Motor Vehicle Industry Licensing Board enforces motor vehicle dealer license regulations, including the bond coverage requirement. If you have questions about this Nebraska surety bond coverage or the status of your dealer license application, the board advises you call them at 1 (402) 471-2148 or email [email protected].
How do I update or change my auto dealer bond form?
If the Motor Vehicle Industry Licensing Board requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your auto dealer surety bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for these bonds are the dealer/dealership name or the business location county.
How do you renew your Nebraska auto dealer bond?
You should renew your auto dealer bond before its current term expires annually on December 31st. 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 auto dealers apply for a license in Nebraska?
The following documents must be submitted to the Motor Vehicle Industry Licensing Board for review.
- dealer licensing application
- copy of zoning permit
- photograph of the place of business and business sign
- certificate of liability insurance
- certificate of worker's compensation insurance (if elected)
- car dealer bond
- copy of franchise agreement (if applicable)
A field investigator will contact the applicant to schedule an appointment to inspect the dealership. After the inspection and approval, the application paperwork, Inspection Report, and fees must be returned to the board.
Motor Vehicle Industry Licensing Board
301 Centennial Mall South
P. O. Box 94697
Lincoln, NE 68509
Call 1 (800) 308-4358 to talk with a Surety Expert today.