MVD Surety Bonds | Auto Dealer Surety Bond & Used Car Dealer Bond
MVD Bond | Surety Bond
MVD Bond ApplicationType of Bond
MVD bonds are required by the state in order for a dealer to obtain a dealer license. A MVD bond is one of the most common types of surety bonds. Each state will have a different surety bond amount and unique bond form.
What does a MVD Bond do?
MVD bonds protect the obligee from a variety of different infractions incurred by the dealer.
Here is a list of generic examples the bond may cover:
>Misrepresentation or false, deceptive, or misleading statements with regard to the sale or financing of motor vehicles
>Fails to pay Motor Vehicle fees
>Fails to procure a valid title
>Fails to pay State Sales Tax
Always review the state bond form and state statues for more details.
Auto Dealer bonds with State specific bond expiration dates:
Alabama Used Car Dealer Bond expiring 9/30
Florida has several different MVD bonds required for different classes of business with specific expiration dates
Florida MVD Bond expiring 4/31
Florida Franchise Dealer Bond expiring 12/31
Florida MVD Bond for Mobile Home sells expiring 9/30
Georgia MVD Bonds expire on 3/31 every even year
Illinois MVD Bond expiring 12/31
Louisiana MVD Bond expiring 12/31
Missouri MVD Bond expiring 12/31
Montana MVD Bond expiring 12/31
Nebraska MVD Bond expiring 12/31
New Jersey MVD Bond expiring 3/31
Oklahoma MVD Bond expiring 12/31
West Virgina MVD Bond expiring 6/30
Wisconsin MVD Bond expiring 12/31
States with longer bond terms
Oregon MVD Bonds have a 3 year term
Tennessee MVD Bonds have a 2 year term
Texas MVD Bonds have a 2 year term
States that require different MVD bonds or amounts
Arizona
$100,000 Arizona MVD Bond is required for New Auto Dealers and Used Auto Dealers.
$25,000 Arizona MVD Bond is required for Title Service Companies, Brokers, Wholesale and Auto Auction Dealers
$10,000 Arizona MVD Bond is required for Automotive Recyclers
California
$10,000 California Wholesale Dealer Bond the dealer must sell less than 25 vehicles per year and either be a Motorcycle Dealer, All-Terrain Dealer or Wholesaler Dealer
$50,000 California MVD Bond (Retail dealer)
Florida
$25,000 Florida MVD Bond (General)
$10,000 Florida Recreational Vehicle Dealer Bond
$25,000 Florida Mobile Home Dealer Bond
NEW PROGRAM FOR FLORIDA MVD BONDS 2% RATE ($500)
NO COLLATERAL
NO PERSONAL FINANCIAL NEEDED
SUBJECT TO CREDIT REPORT AND CREDIT SCORE ABOVE 675
Different names same bond type:
To help clarify any confusion, a Motor Vehicle Dealer Bond / MVD Bond are referred to by a variety of different names. It is also called a DMV Bond, Auto Dealer Bond, Dealer Bond, and Used Car Dealer Bond.
Program
Program: Our agency currently has several specialty programs that can help you place your MVD Bond.
MVD Bonds are an extension of credit, like a loan your rate will be based upon your credit situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.
Always check with the "Obligee" for details
Application
Our application process for a MVD Bond is easy. You can apply for the MVD Bond Application .
Find this bond for another stateObligee Information
An obligee is the entity that is requiring you to have the MVD.
Here are a few state specific bonds
| State | Surety Bond type | Bond Amount | Obligee | More info |
|---|---|---|---|---|
| Alabama | Mvd Bond | $10,000.00 | Alabama Department Of Revenue | Alabama Mvd Bond |
| Alaska | Mvd Bond | $50,000.00 | Alaska Division Of Motor Vehicles | Alaska Mvd Bond |
| Arizona | Mvd Bond | $100,000.00 | Arizona Department Of Transportation | Arizona Mvd Bond |
| Arkansas | Mvd Bond | $25,000.00 | Arkansas Motor Vehicle Commission | Arkansas Mvd Bond |
| California | Mvd Bond | $50,000.00 | State Of California Department Of Motor Vehicles | California Mvd Bond |
| Colorado | Mvd Bond | $50000.00 | State Of Colorado Mvd | Colorado Mvd Bond |
| Connecticut | Mvd Bond | $50,000.00 | Connecticut Department Of Motor Vehicles | Connecticut Mvd Bond |
| Dc | Mvd Bond | $25,000 | District Of Columbia Department Of Consumer & Regulatory Affairs | Dc Mvd Bond |
| Federal | Mvd Bond | $10,000.00 | Federal Motor Carrier Safety Administration | Federal Mvd Bond |
| Florida | Mvd Bond | $25,000 | Florida Department Of Highway Safety And Motor Vehicles | Florida Mvd Bond |
| Georgia | Mvd Bond | $35,000 | Georgia Motor Vehicle Division | Georgia Mvd Bond |
| Hawaii | Mvd Bond | $25,000.00 | Hawaii Department Of Commerce And Consumer Affairs | Hawaii Mvd Bond |
| Idaho | Mvd Bond | $20,000.00 | Idaho Department Of Transportation | Idaho Mvd Bond |
| Illinois | Mvd Bond | $20,000.00 | Illinois Secretary Of State | Illinois Mvd Bond |
| Indiana | Mvd Bond | $25,000.00 | Indiana Bureau Of Motor Vehicles | Indiana Mvd Bond |
| Iowa | Mvd Bond | $50,000.00 | Iowa Department Of Transportation | Iowa Mvd Bond |
| Kansas | Mvd Bond | $15,000.00 | Kansas Department Of Revenue | Kansas Mvd Bond |
| Kentucky | Mvd Bond | $20,000.00 | Kentucky Motor Vehicle Commission | Kentucky Mvd Bond |
| Louisiana | Mvd Bond | $10,000.00 | Department Of Public Safety And Corrections Office Of Motor Vehicles | Louisiana Mvd Bond |
| Maine td> | Mvd Bond | $5,000.00 | Maine Bureau Of Motor Vehicles | Maine Mvd Bond |
| Maryland | Mvd Bond | $15,000.00 | Administrator Of Mvd St Of Maryland | Maryland Mvd Bond |
| Massachusetts | Mvd Bond | $25,000.00 | City Of Boston | Massachusetts Mvd Bond |
| Michigan | Mvd Bond | $10,000.00 | Commonwealth Of Michigan Registry Of Motor Vehicles | Michigan Mvd Bond |
| Minnesota | Mvd Bond | $50,000.00 | Minnesota Department Of Public Safety | Minnesota Mvd Bond |
| Mississippi | Mvd Bond | $25,000 | State of Mississippi Motor Vehicle Commission | Mississippi Mvd Bond |
| Missouri | Mvd Bond | $25,000 | Missouri Commission Of Motor Vehicles | Missouri Mvd Bond |
| Montana | Mvd Bond | $50,000.00 | Montana Dmv | Montana Mvd Bond |
| Nebraska | Mvd Bond | $50,000.00 | Nebraska Motor Vehicle Industry Licensing Board | Nebraska Mvd Bond |
| Nevada | Mvd Bond | $50,000.00 | Nevada Department Of Motor Vehicles | Nevada Mvd Bond |
| New Hampshire | Mvd Bond | $25,000.00 | New Hampshire Director Of The Division of Motor Vehicles | New Hampshire Mvd Bond |
| New Jersey | Mvd Bond | $10,000.00 | New Jersey Division Of Motor Vehicles | New Jersey Mvd Bond |
| New Mexico | Mvd Bond | $50,000.00 | New Mexico Motor Vehicle Division | New Mexico Mvd Bond |
| New York | Mvd Bond | $25,000.00 | Department Of Motor Vehicles | New York Mvd Bond |
| North Carolina | Mvd Bond | $10,000.00 | North Carolina Division Of Motor Vehicles | North Carolina Mvd Bond |
| North Dakota | Mvd Bond | $10,000.00 | North Dakota Department Of Transportation | North Dakota Mvd Bond |
| Ohio | Mvd Bond | $14,000.00 | Ohio Bureau Of Motor Vehicles | Ohio Mvd Bond |
| Oklahoma | Mvd Bond | $25,000.00 | State Of Oklahoma | Oklahoma Mvd Bond |
| Oregon | Mvd Bond | $40,000.00 | Department Of Transportation | Oregon Mvd Bond |
| Pennsylvania | Mvd Bond | $20,000.00 | Department Of Transportation Bureau Of Motor Vehicles | Pennsylvania Mvd Bond |
| Rhode Island | Mvd Bond | $50,000.00 | Dealers License & Regulations Office | Rhode Island Mvd Bond |
| South Carolina | Mvd Bond | $15,000.00 | People Of The State Of South Carolina | South Carolina Mvd Bond |
| South Dakota | Mvd Bond | $25,000.00 | Department Of Revenue And Regulation | South Dakota Mvd Bond |
| Tennessee | Mvd Bond | $5,000.00 | Director Of Tennessee Motor Vehicle Commission | Tennessee Mvd Bond |
| Texas | Mvd Bond | $25,000.00 | TEXAS DEPARTMENT OF TRANSPORTATION Motor Vehicle Division | Texas Mvd Bond |
| Utah | Mvd Bond | $75,000.00 | People Of The State Of Utah | Utah Mvd Bond |
| Vermont | Mvd Bond | $25,000.00 | Agency Of Transportation Department Of Motor Vehicles | Vermont Mvd Bond |
| Virginia | Mvd Bond | $50,000.00 | Commonwealth Of Virginia | Virginia Mvd Bond |
| Washington | Mvd Bond | $30,000.00 | Department Of Licensing Business And Professions Division | Washington Mvd Bond |
| West Virginia | Mvd Bond | $25,000.00 | West Virginia Division Of Motor Vehicles | West Virginia Mvd Bond |
| Wisconsin | Mvd Bond | $50,000.00 | State Of Wisconsin Department Of Motor Vehicles | Wisconsin Mvd Bond |
| Wyoming | Mvd Bond | $25,000.00 | Wyoming Department Of Transportation | Wyoming Mvd Bond |
| License Permit | MVD Bond | License Permit MVD Bond |
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!