What is an Iowa Car Dealer Bond?
Iowa Car Dealer Bonds are required by Iowa's DOT to obtain your Dealer license. The MVD Bond amount for the sale of New and used vehicles is set at $75,000. The Auto Dealer bond ensures that the principal shall comply with the conditions of any contract made by such licensee in connection with the sale or exchange of any motor vehicle and shall not violate any of the provisions of law relating to the conduct of the business for which it is licensed.
The State requires a Car Dealer bond for each license you hold:
- $75,000 New and Used Vehicle Dealer Bond https://www.wwisinc.com/bond-types/apply/iowa-mvd-bond
Different parts of a bond:
There are 3 parts to a MVD surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the MVD Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
Try our 100% Secure MVD Bond Online Application to get the Lowest MVD bond rates in all 50 States.
You can buy your Iowa Car Dealer bond (Apply) online immediately
Iowa MVD Bond Requirements and Information:
A $75,000 surety bond must be filed with the Iowa DOT. This can be obtained through your insurance agent or an Iowa licensed bonding company.