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Does a Vermont Motor Vehicle Dealer Need a Bond For Their License?

A Vermont Motor Vehicle Dealer shakes hands with a customer

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:

  • Less than 25 vehicles = $20,000 Bond
  • 25 to 100 vehicles = $25,000 Bond
  • 101 to 250 vehicles = $30,000 Bond
  • 251 or more vehicles = $35,000 Bond
  • How Much Will This Bond Cost?

    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.

    Have Questions?

    Contact our Surety Bond Specialists at:

    Phone: 1‑844‑432‑6637
    Emailinfo@suretygroup.com
    Fax:     404-351-3237
    Hours: 8:00-5:00 CST, Monday through Friday



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