If you are a Vehicle Dealer or Rebuilder in Oregon, you need to have a Motor Vehicle Dealer Surety Bond for your license. Licenses are required for a new or franchise vehicle dealer, used vehicle dealer (also known as an auto dealer or car dealer, recreational vehicle dealer, motorcycle dealer, moped dealer, snowmobile dealer, or All Terrain Vehicle Dealer (ATV) or vehicle rebuilder.
Applicants are required to pass an eight-hour Dealer Education Course and an original certificate will be issued upon completion.
The application requirements include: completion of the application, obtain zoning approval for business location, a liability insurance certificate, a surety bond and payment of the license fee.
Surety Bond requirements for the following dealer types:
$40,000 surety bond ($50,000 surety bond effective 1/1/18) for new or franchise vehicle dealers and used vehicle dealers, including recreational vehicles and vehicle rebuilder.
$2,000 surety bond ($10,000 surety bond effective 1/1/18) for motorcycle, moped, snowmobile, ATV dealers.
Licenses and surety bonds must be renewed every 3 years.
The premium that you pay for an Oregon Vehicle Dealer or Rebuilder Surety Bond is dependent on credit and length of years working in auto sales.
Contact our Surety Bond Specialists at:
Hours: 8:00-5:00 CST, Monday through Friday