West Virginia Used Auto Dealer Bond
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How much does an auto dealer bond cost in West Virginia?
West Virginia auto dealer bond costs start at $187 for the state-required 1-year term. Your exact auto dealer surety bond premium will be provided after a quick application review. Apply now to get your free quote!
How do you get a West Virginia auto dealer bond?
You can apply for your West Virginia used auto dealer bond online 24/7. You'll need to provide the following information for Division of Motor Vehicles approval.
- dealer/dealership name
- physical business address
- county
- dealer license number, if available
Once your order has been processed, your official used car dealer bond documentation will be delivered by email.
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 West Virginia motor vehicle dealer bond faster than any other surety company. Orders placed by 4 PM CST Monday-Friday are typically processed same-day, delivered straight to your email.
If you have questions about the West Virginia vehicle dealer bond 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 the purpose of the West Virginia auto dealer bond?
West Virginia Code Chapter 17A Article 6-4 requires individuals file a $25,000 surety bond to get a dealer license if they sell 5 or more vehicles (new or used) in a fiscal year. The state-required form MVD-126-DS-P is not formally titled, but it specifically prohibits a licensed dealer from committing fraud or making any fraudulent representation that causes financial loss to purchasers, sellers, financial institutions/agencies or the state while operating their business. If an auto dealer commits an act prohibited by the West Virginia Code, the issuing surety company will pay valid claims to harmed parties up to the full $25,000 bond amount, which the bonded dealer must then reimburse.
Who regulates licensing for auto dealers?
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].
How do West Virginia auto dealers file your bond with the DMV?
After you've purchased and received your official West Virginia surety bond, you must file it with the DMV along with your new or renewal dealer application. The DMV requests you mail your application and all associated paperwork to the following address.
Dealer Services
PO Box 17100
Charleston, WV 25317
How do I update or change my used auto dealer bond?
If the West Virginia Division of Motor Vehicles requires you to make any changes to your bond documentation, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for this bond include:
- dealer/dealership name
- physical business address
- county
How do you renew your West Virginia auto dealer bond?
The state requires your West Virginia vehicle dealer bond to expire annually on June 30th. You must file a new bond form for each subsequent dealer license term. Once you pay your SuretyBonds.com renewal invoice, a new auto dealer surety bond form will be issued and sent to you to file with the DMV.
How do auto dealers apply for a license in West Virginia?
Motor vehicle dealers must submit a completed application with the following supporting documentation to the DMV.
- $25,000 West Virginia surety bond
- 20/40/10 dealer liability insurance
- personal property tax receipt stating that no taxes are owed by owners
- pictures of dealership and sign with letters at least 4” in height
- valid West Virginia business license
- garage agreement, if applicable
- franchise agreement, if applicable
What can dealers do to avoid claims against the West Virginia auto dealer bond?
To avoid claims against your car dealer bond, you must operate your business according to West Virginia Code, which specifically prohibits the following acts:
- failing to have an established salesroom
- willfully defrauding any retail buyer
- employing fraudulent devices, methods or practices
- using unfair methods of competition
- knowingly advertising statements that are untrue, misleading or deceptive
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
