Idaho Vehicle and Vessel Dealerships Surety Bonds
Or call 844-432-6637
If you are an Idaho Motor Vehicle Dealer or Vessel Dealer you are required to apply for a license to operate a dealership. This includes new or franchised vehicle dealers, used vehicle dealers (also known as car dealers or auto dealers), new or franchise vessel dealers, new and used trailer dealers, new and used ATV, UTV, motorcycle or snowmobile dealers, and wholesale vehicle dealers.
Surety Bond and License Requirements:
- Used vehicle and wholesale dealerships are required to attend an eight-hour pre-licensing course and pass the exam prior to submitting an application.
- Complete the application available through the Idaho Department of Transportation and personal history form and pay the licensing and plate fees.
- A surety bond is required to operate a dealership. The surety bond amounts are as follows:
- A $40,000 surety bond is required for wholesale dealers
- A $20,000 surety bond for retail dealers
- A $10,000 surety bond for sales of motorcycles, ATV's, UTV's, or snowmobiles only
- Obtain zoning approval by the county or zoning authority for the proposed dealership location. A home residence is not allowed unless the dealership is in a seperate building or on the ground floor with a separate entrance and not accessible to the residence.
- Provide proof of liability insurance in the amounts of $25,000 bodily injury or death 1 person, $50,000 for 2 persons, and $15,000 for injury or property damage.
- If you are a corporation, limited liability company or partnership, provide a copy of the Status obtained from the Idaho Secretary of State. If your business will be using a trade or dba name, the name will need to be filed with the Idaho Secretary of State.
- Provide an EIN number obtained from the Internal Revenue Service.
How Much Will This Bond Cost?
The premium that you pay for an Idaho Vehicle or Vessel Dealer Surety Bond is dependent on credit, the bond amount required, and experience in the industry.
Related Links:Idaho Department of Transportation Dealer Information
More Surety Bond Questions?
Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.
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