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How much does a motorcycle dealer bond cost in Virginia?
The Virginia Department of Motor Vehicles requires dealers of trailers, travel trailers, motor homes, and motorcycles (including ATVs and off-road motorcycles) to post one-year $25,000 surety bonds.
SuretyBonds.com offers these bonds at varying rates depending on the applicant’s credit report. Applicants with strong financial credentials could pay as little as $250 for their bond! Bad credit? Don’t worry! The experts at SuretyBonds.com will work hard to get you the bond you need for the lowest rate possible. Request a free bond quote now!
Work one-on-one with our team of experienced surety specialists! Call SuretyBonds.com at 1 (800) 308-4358 or fill out an online bond request form now.
Why do I need this bond?
Motorcycle and trailer dealer surety bonds in Virginia ensure that principals (vehicle dealers) comply with the provisions of Chapter 19, Title 46.2 of the Code of Virginia. The bond protects any person from financial losses that occur as a result of the principal’s failure to uphold these rules and regulations.
The surety will cover damages done to harmed parties up to the full bond amount, and the principal must reimburse the surety for damages paid out.
When you work with SuretyBonds.com, you’ll get the bond you need quickly, easily and accurately. Apply for a free bond quote now!
What’s the fine print?
Virginia motorcycle, trailer or T and M vehicle dealer bonds remain continuous until canceled. The bond does not automatically expire with the dealer’s license, but continues from license term to license term for a period of 3 consecutive years from the effective date stated on the bond form.
The surety can cancel the bond at any time by giving 30 days’ written notice of cancellation to the Commissioner of the Department of Motor Vehicles.
How to become a motorcycle dealer in Virginia
To become a licensed trailer dealer in Virginia, applicants must present a completed motor vehicle dealer license application and pay all required licensing fees. All individual salespeople at the dealership must be licensed to legally work within the state. There is a $100 licensing fee for each principal place of business and a $20 fee for each supplemental license.
Complete licensing information can be accessed via the Additional Resources section of this page. Don’t let getting the surety bond you need delay the licensing process. Get started now!