If you are a Motor Vehicle Dealer in Vermont, you need a Motor Vehicle Dealer Continual Bond.
Dealers who are required to register for a license include: new dealers, used dealers, auto dealers and car dealers. Dealer applicants will need to apply for a license through the Vermont Agency of Transportation, Department of Motor Vehicles.
Applicants must be able to pass a criminal background check and must not have had a previous record of violations of dealer laws. Additionally, if the applicant has any unsatisfied judgments that violate consumer protection laws, a license will not be issued.
The dealership will need to be open a minimum of 146 days per year. The hours of operation must be noted in the application. The applicant will also need a lease or deed for the business property and have a permanent building of at least 1,200 square feet and room for record storage.
New applicants are required to obtain a $35,000 surety bond. After the first year, the bond amount is determined by the dealer's sales in the previous year:
The premium that you pay for a Vermont Motor Vehicle Dealer Bond is dependent on credit, the bond amount needed and experience in the motor vehicle industry.
We have been underwriting surety bonds for over 35 years, and we offer bonds for individuals and businesses of every size.
Our team of experienced surety specialists and in-house underwriting authority gives us a unique advantage over other surety companies. We are able to offer competitive, low rates, quick approvals and immediate bond delivery. In most cases we can approve your application today and deliver your bond tomorrow.
Hours: 8:00-5:00 CST, Monday through Friday