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Vermont Motor Vehicle Dealer Surety Bond

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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 (DMV).

Surety Bond and License Requirements:

  1. 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.
  2. 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.
  3. 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 Surety Bond
  • 25 to 100 vehicles = $25,000 Surety Bond
  • 101 to 250 vehicles = $30,000 Surety Bond
  • 251 or more vehicles = $35,000 Surety Bond

    • How Much Will a Vermont Vehicle Dealer Bond Cost?

    The premium that you pay for a Vermont Motor Vehicle Dealer Surety Bond is dependent on credit, the bond amount needed and experience in the motor vehicle industry. Our rates start at 1% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote.

    Related Links:

    Vermont Motor Vehicle Dealer License Information
    Vermont Vehicle Dealer License Application

    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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