If you are a Motor Vehicle Dealer in South Dakota, you need a Motor Vehicle Dealer Surety Bond. Dealers must complete a dealer application and pay the applicable license fee and obtain a surety bond, must have a principal place of business that includes a telephone with a listed phone number, have posted business hours, space to display inventory, follow local zoning ordinances and building codes, and can't be a hotel, motel. apartment, etc. Minimum liability insurance is required and not be less than $300,000 depending on type of inventory offered.
The surety bond amount you may need is based on the type of vehicles that will be sold.
The premium that you pay for a South Dakota Motor Vehicle Dealer Surety Bond is dependent on credit and the bond amount required.
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.
For a downloadable application