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.
Contact our Surety Bond Specialists at:
Hours: 8:00-5:00 CST, Monday through Friday