Vermont Motor Vehicle Dealer Bond
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How much does a Vermont motor vehicle dealer bond cost?
Vermont motor vehicle dealer bond costs vary depending on the bond amount required by the DMV based on the number of vehicles sold in the past 2 years. Your official quote will cover the full 2-year term as required by the state.
Fewer than 25 vehicles sold: $20,000 bond costs start at $360
25-100 vehicles sold: $25,000 bond costs start at $337.50
101-250 vehicles sold: $30,000 bond costs start at $405
New Applicant OR 251+ vehicles sold: $35,000 bond costs start at $468.38
Your exact premium will be provided after a quick application review. Apply now to get your free personal bond quote!
How do you get a Vermont auto dealer bond?
You can apply for your free Vermont motor vehicle dealer bond quote online 24/7. You'll need to provide the following information for Department of Motor Vehicles approval.
number of vehicles sold during the previous 2 years
dealer license number, if available
Once your order has been processed, you'll receive a copy of your bond by email. Your official Vermont motor vehicle dealer bond will be shipped to your preferred mailing address.
How fast can I get a motor vehicle dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Vermont motor vehicle dealer bond faster than any other surety provider. The Department of Motor Vehicles requires these bonds be physically issued and delivered to you. Orders placed by 4 PM CST Monday-Friday are typically shipped same-day. If you're in a rush, choose overnight shipping during checkout.
If you have questions about the Vermont dealer bond requirement or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the dealer bond process so you can get back to running your business.
What is a Vermont auto dealer bond?
Vermont Statutes Annotated Title 23 Chapter 007 §453 requires individuals to file a surety bond, letter of credit, or certificate of deposit before they can be registered as a vehicle dealer. The bond obligates dealers to comply with all applicable Vermont statutes when operating their business. If they fail to do so, any person who experiences a loss when transacting with the dealer 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.
Bond form VD-114a is officially titled the “Motor Vehicle Dealer Continual Bond,” but it's more commonly known as an “auto dealer bond” or "MVD bond."
This Vermont surety bond is required for auto dealer licensing. If you're trying to register a vehicle with a missing title, you need a separate Vermont certificate of title bond.
Who needs a Vermont auto dealer bond?
Vermont defines an auto dealer as a person, partnership, or corporation engaged in the business of buying, selling, or exchanging new or used motor vehicles. Auto dealers must obtain a license issued by the Commissioner of Motor Vehicles before selling vehicles in the state. A new or used car dealer license will not be issued unless the dealer has provided a surety bond in the correct required bond amount issued by an authorized surety company.
Who regulates licensing for motor vehicle dealers?
The Vermont Agency of Transportation Department of Motor Vehicles enforces the state's dealer license regulations, including the surety bond requirement. If you have questions about your required bond amount or the status of your dealer license application, you can call the DMV at 1 (802) 828-2038.
How do Vermont auto dealers file your bond?
After purchasing your Vermont surety bond, file your official documents with the DMV.
Department of Motor Vehicles
120 State Street
Montpelier, Vermont 05603-0001
How do I update or change my motor vehicle dealer bond?
If the Department of Motor Vehicles requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your motor vehicle dealer bond from SuretyBonds.com, email our customer service team at [email protected] to explain the needed change.
The most common change requested is updating the dealer or dealership's name.
How do you renew your Vermont auto dealer bond?
You should renew your Vermont auto dealer surety bond before its current 2-year term expires. 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 I get a Vermont motor vehicle dealer license?
Motor vehicle dealer license applicants must complete the following to qualify for a license.
Submit all required application forms.
Pay all applicable licensing fees.
Provide proof of a sales tax license.
Purchase an MVD bond in the correct required amount.
Furnish a credit report and background check.