West Virginia Used Dealer Bond Overview
- Purpose: To guarantee dealers follow all state regulations and protect their clients
- Who Needs It: All used motor vehicle dealers in WV
- Regulating Body: The West Virginia Division of Motor Vehicles (DMV) – Dealer Services
- Bond Amount: $25,000
- Minimum Price: $187.50 for 2 years; credit-based
What Is a West Virginia Used Auto Dealer Bond?
A West Virginia used auto dealer bond is a financial guarantee required for state licensing with the DMV. If a licensed dealer commits fraud or misrepresentation, the bond provides a means for recouping financial losses.
How Much Do Used Auto Dealer Bonds Cost?
West Virginia used dealer bond costs start at $187.50 for a one-year term. These bonds expire on June 30 each year, so your rate may be prorated based on the purchase date. We’ll email your exact quote after a quick application review. Apply online now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a West Virginia Used Auto Dealer Bond Work?
An auto dealer bond creates a financial contract between three parties. As the bonded dealership owner, you are the “principal.”
| Bond Party | Description |
|---|---|
| 1) Principal | The used dealership owner filing the bond |
| 2) Obligee | The West Virginia Division of Motor Vehicles – Dealer Services |
| 3) Surety | The issuing surety provider |
If you break the bond terms and cause a financial loss to a purchaser, seller, financial institution or agency, you become liable for bond claims. The surety will pay out valid claims first, but then you must repay the surety.
How Do I Get a Used Auto Dealer Bond in West Virginia?
You can apply for your dealer bond online 24/7. You'll need to provide the following information:
- Dealer/dealership name
- Physical business address
- County
- Dealer license number, if available
We’ll run a soft credit preview and provide your quote within one business day or less. After checking out, you’ll receive your official bond form via email in minutes.
How Do I File My Bond?
After you receive your official West Virginia surety bond, you must file it with the DMV along with your dealer application. Find more information in the licensing section below.
Can I Get Bonded With Bad Credit?
Bad credit may impact your premium rate, but it doesn’t always disqualify you from getting a bond. We work with a variety of markets to approve 99% of applicants.
How Do I Renew My Bond?
You’ll need to renew your dealer bond each year before June 30. We’ll provide helpful reminders before your bond expires. All you need to do is pay the renewal invoices and your bond will stay active for another year.
How to Get a Used Dealer License in West Virginia
The West Virginia Division of Motor Vehicles reviews applications for used motor vehicle dealer licenses. You can contact them by phone at 1 (304) 926-0705 or by email at [email protected].
Gather these documents to complete your application packet:
- $25,000 West Virginia surety bond
- 20/40/10 dealer liability insurance
- Personal property tax receipt
- Pictures of dealership and sign
- Valid West Virginia business license
- Garage agreement, if applicable
- Franchise agreement, if applicable
You can use the DMV’s online services or mail your materials to the following address.
Dealer Services
PO Box 17100
Charleston, WV 25317
