How much does an auto dealer bond cost in Vermont?
Vermont car dealer surety bonds are required by the Vermont Commissioner of Motor Vehicles. The required bond amount depends on the number of vehicles the principal sold in the year prior to application. SuretyBonds.com offers these bonds for different costs depending on a review of each applicant’s credit report.
Don’t let poor credit stop you from getting the bond you need! SuretyBonds.com offers an exclusive bad credit bonding program through which we approve 99% of applicants.
Ready to get bonded? Give us a call at 1 (800) 308-4358, or fill out an online bond request now!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Motor Vehicle Dealer Bond sold less than 25 vehicles||$20,000||Starts at $200||$200-1,600||$1,600+||Apply Now|
|Motor Vehicle Dealer Bond sold 25-100 vehicles||$25,000||Starts at $250||$250-2,000||$2,000+||Apply Now|
|Motor Vehicle Dealer Bond sold 101-250 vehicles||$30,000||Starts at $300||$300-2,400||$2,400+||Apply Now|
|Motor Vehicle Dealer Bond sold 251 or more vehicles||$35,000||Starts at $350||$350-2,800||$2,800+||Apply Now|
Have questions about this surety bond type? Call SuretyBonds.com at 1 (800) 308-4358 or fill out our online bond request form to get started.
Why do I need this bond?
Vermont motor vehicle bonds guarantee that principals (motor vehicle dealers & used motor vehicle dealers) comply with the terms listed in 23 V.S.A. Chapters 7 and 21 as well as 32 V.S.A. Chapter 219 of the Vermont Statutes Annotated. Specifically, this bond prevents fraud and fraudulent representation at the hands of the principal.
Apply for a Vermont motor vehicle dealer surety bond quote today using our online bond request form! Our surety experts work hard to get you bonded for the lowest price possible.
What’s the fine print?
This bond will be continuously effective for the pending registration year as well as the year following. The surety can choose to cancel the bond at any time by filing written notice of such cancellation with the vehicle dealer and the Commissioner of Motor Vehicles. If the applicant was not previously registered as a motor vehicle dealer in the year prior to application, he or she must post a bond in the amount of $35,000.
How to become a motor vehicle dealer in Vermont
A vehicle dealer in the state of Vermont is defined as a person, partnership, or corporation who is engaged in the business of buying, selling, or exchanging new or used motor vehicles, as well as other types of motor vehicle dealers. These professionals must obtain a license issued by the Commissioner. Applicants must do the following to qualify for a license:
- submit all required forms of the application
- pay all appropriate licensing fees
- provide proof of a sales tax license
- post the proper surety bond
- furnish a credit report as well as a background check
- and more
More licensing information can be accessed from the Additional Resources section of this page.
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