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How much will my Oregon auto dealer or rebuilder bond cost?
Oregon auto dealer or rebuilder bonds are required by the Oregon Department of Transportation. Motor vehicle and recreational vehicle dealers must post a $50,000 surety bond. These bonds require underwriting based on a review of the applicant’s personal credit report to determine pricing. Motorcycle, moped, all-terrain vehicle, and snowmobile dealers must post a $10,000 surety bond, which can be issued to all applicants for just $100.
Ready to get a free, no-obligation bond quote? Submit a bond request today! Our experts will work hard to get you bonded quickly, easily, and accurately.
Why do I need this bond?
Oregon motor vehicle dealer or rebuilder bonds ensure that principals (auto dealers or rebuilders) adhere to all of the rules and regulations stated in the Oregon Revised Statutes, Chapter 882. Some of these provisions include:
- providing proof of the necessary education
- not altering the odometer
- always practicing truthful lending practices
- never falsely advertising vehicle prices or conditions
If a principal violates any of the terms of their bond agreement and a consumer is harmed, the surety will pay for all damages up to the full bond amount. The principal must compensate the surety for all damages paid out.
If you’re ready to get bonded, fill out our online bond request form or give our team of experts a call today at 1 (800) 308-4358! We can get you a free, no-obligation bond quote within 1 business day of applying.
What’s the fine print?
Oregon vehicle dealer or rebuilder bonds are continuous until canceled. If the surety decides to cancel this bond, 30 days of written notice must be given to the Department of Transportation Driver and Motor Vehicle Services.
How to become an auto dealer in Oregon
Obtaining your motor vehicle dealer bond in Oregon is just the first step toward becoming licensed. Some of the other materials you must turn in with your application packet include:
- copies of photo IDs for all appropriate owners, partners, or officers
- a copy of your liability insurance certificate
- a copy of your pre-licensing education certificate
- all required fees ($1,187 for an original certificate; $350 for additional locations; $54 for additional plates)
Take the first step toward becoming bonded today by submitting a bond request form. Our experts will get you a free surety bond quote on your Oregon motor vehicle dealer or rebuilder bond within 1 business day of submitting an application.