Virginia Vehicle Dealers are required to have a license and bond to operate a dealership. Dealers that must be licensed include: new / franchised and used / independent motor vehicle dealers (including autos, trucks, and car dealers), motorcycle dealers, recreational vehicle (RV) dealers, and trailer dealers.
Dealers can apply for a license through the Virginia Motor Vehicle Dealer Board (MVDB).
License requirements include:
Pass either the dealer-operator independent of franchise test, complete the application and pay the license fee and dealer plate fees. Applicants must also be able to pass a criminal background check.
Applicants must have an established business that is compliant with local zoning ordinances, is either leased or owned, have permanent signage, posted business hour, have a business office with furniture and a working phone.
Obtain a Virginia Motor Vehicle Dealer surety bond from SuretyGroup.com in the amount of $50,000 for three consecutive years. Dealers must also pay an annual fee into the Motor Vehicle Recovery Fund. If no claims are made against the dealer for three years, thereafter the dealer can choose to continue to pay into the fund or maintain a $100,000 surety bond.
New / franchised dealers need to provide a copy of their franchise agreement or a franchise letter.
Provide a sample copy of the Buyers Order that will be used for vehicle purchase transactions.
Businesses that will be using a dba or trade name must file the name with their local court. A copy of the receipt must be submitted with the application.
Premium for a Utah Motor Vehicle Dealer license bond is dependent on credit and experience in the vehicle dealer 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.
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