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How much does a Wisconsin motor vehicle bond cost?
Wisconsin motor vehicle bond costs vary depending on which auto dealer license you need. Your exact premium will be provided after a quick application review. Apply now to get your free quote!
- Annual premiums for the $5,000 Motorcycle or Moped Dealer Bond start at $100.
- Annual premiums for the $25,000 Auction, Recreational (RV), Wholesaler, or Salvage Dealer Bond start at $150.
- Annual premiums for the $50,000 Motor Vehicle Dealer or Retail Dealer Licensee Bond start at $175.
How do you get a Wisconsin auto dealer bond?
You can apply for your Wisconsin auto dealer bond online 24/7. Select which bond amount you need based on your license type and provide the following information for Department of Transportation approval.
- dealer/dealership legal business name (no DBA information)
- business location address
- license type
- dealer license number, if available
You'll receive your official auto dealer surety bond by email once your order has been processed.
How fast can I get an auto dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Wisconsin auto dealer license bond faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed auto dealer bond delivery.
If you have questions about the Wisconsin 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 Wisconsin motor vehicle dealer bond?
Wisconsin Statutes Chapter 218 requires individuals to file a surety bond before being licensed as a dealer. The state-required bond form MV2511 is officially titled the “Dealer Bond” and it covers all dealer types Wisconsin Statutes require to be licensed. The bond amount varies depending on the license type, but it's always used to protect any aggrieved individual who suffers a loss as a result of dealer noncompliance.
Why is a Wisconsin car dealer bond required?
By filing an auto dealer surety bond, individuals agree to operate their dealerships according to Wisconsin Statutes Chapter 218. If they commit a prohibited act, the issuing surety company will pay valid claims up to the full bond amount, which the licensed dealer must then reimburse.
This Wisconsin surety bond is required for professional dealer licensing. If you're trying to register a vehicle with a missing title, you need a separate Wisconsin motor vehicle lost title bond.
Who regulates licensing for dealers?
The Wisconsin Department of Transportation Dealers Section enforces license requirements for dealers in the state. If you have questions about your license type, bond amount, or license application status, you can submit an online email inquiry form to the DOT.
What are the different types of Wisconsin car dealer licenses?
The state requires official dealer licensing for any person who acquires just 1 vehicle with the intention of selling it. Individuals who sell or lease vehicles to the general public must maintain a retail dealer license. Individuals who only sell vehicles to other licensed dealers need a separate wholesale dealer license.
License types covered by dealer bond form MV2511 include:
- motor vehicle dealer
- motor vehicle wholesaler
- motor vehicle salvage dealer
- moped dealer
- recreational vehicle (RV) dealer
- motor vehicle auction dealer
How do Wisconsin auto dealers file your bond?
After you've purchased and received your official bond by email, you'll need to print, sign, and submit it to the DOT by mail.
Wisconsin Department of Transportation
PO Box 7909
Madison, WI 53707
How do I update or change my auto dealer bond form?
If the Wisconsin DOT requires your surety bond documentation to be updated for any reason, 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 these bonds include updating the dealer/dealership's name or address.
How do I renew my Wisconsin motor vehicle dealer bond?
You should renew your Wisconsin motor vehicle dealer bond before its current 1-year term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond active with the DOT.
What are the requirements to being a licensed Wisconsin auto dealer?
The following documents must be completed and submitted to apply for a Wisconsin dealer license.
- dealer license application specific to your dealer type
- entity/owner statement
- business facilities statement
- service agreement
- dealer surety bond
- Articles of Incorporation (if applicable)
- financial statement
- manufacturer/importer/distributor certification of dealer (new motorcycle and new motor vehicle dealers only)
- salesperson license application (motorcycle, RV, and retail dealers)
- buyer's license application (motorcycle and retail dealers)
License applications and supporting documents must be mailed to the following address:
Wisconsin Department of Transportation
Dealer & Agent Section
P.O. Box 7909
Madison, WI 53707-7909
Dealer license applicants must also meet the following requirements.
- at least 18 years of age
- no convictions related to the sale of motor vehicles
- established place of business with an office space and vehicle display area
- exterior business sign and posted business hours
- local zoning and permit approval
- sales tax seller permit
- service department or written agreement with a nearby service facility
- manufacturer’s certificate of appointment (franchise) if selling new vehicles/motorcycles
- lease for the business property (if applicable)
What can dealers do to avoid claims against the Wisconsin auto dealer bond?
To avoid claims against a Wisconsin surety bond, dealers should operate their dealership according to Wisconsin Statutes Chapter 218. Dealers should not commit acts prohibited by state law when transacting with customers.
Call 1 (800) 308-4358 to talk with a Surety Expert today.