South Dakota MVD Bond

South Dakota MVD Bond

South Dakota MVD Bond


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What is an South Dakota Car Dealer Bond? 

South Dakota Car Dealer Bonds are required by South Dakota's Department of Revenue and Regulation to obtain your Dealer license. The MVD Bond amount for the sale of New and used vehicles is set at $25,000.  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:  

$25,000 surety bond for New and Used Motor Vehicle Dealers, Public Consignment Auction Dealers and any other type of dealer

Boats - $20,000

Trailers (over 3,000 pounds) - $10,000

Motorcycle/Off-Road Vehicle and Snowmobiles - $5,000

$50,000 surety bond for auctioneers 



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 Lost title bond rates in all 50 States.



Program:


You can buy your South Dakota Car Dealer bond (Apply) online immediately


South Dakota MVD Bond Information and Requirements:


Dealers are required to maintain a surety bond issued by a bonding company qualified to do business in South Dakota. Any dealer renewing his South Dakota dealer license, and who has already filed such surety bond with the department, need not file any further bond; unless the dealership name changes or a new bond is obtained.

  • Boats - $20,000
  • Vehicle Dealer/Used Car, Mobile/Manufactured Home - $25,000 
  • Trailers (over 3,000 pounds) - $10,000
  • Motorcycle/Off-Road Vehicle and Snowmobiles - $5,000
$50,000 surety bond for auctioneers 


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