The $10,000 motor vehicle lessor used motor vehicle facility bond is a requirement of the Louisiana Motor Vehicle Commission.
Obtaining this surety bond --- whether as a new/first time bond, or a renewal surety bond, will be the quickest aspect of your licensing process with the state.
All candidates for this surety bond are pre-approved. After completion of an application, which can be taken with an agent over the phone, and payment of the $100 premium, the bond is issued to you immediately.
There is neither a credit check inquiry nor an underwriter review for this bond.
Once the premium has been paid, our agency can provide you an emailed copy of the bond. The original surety bond – which you will need to sign as Principal before filing with the Commission – will be sent to you by the following business day.
At $100, the lessor used motor vehicle facility bond is issued for a standard one year term.
The bond may also be prepaid for 2 or 3 years, which at the same increases renewal intervals and offers you a savings over year to year renewal of the premium.
The prepayment options are broken down as follows:
The purpose of your surety bond is to serve as a financial guarantee that you will comply with all state regulations concerning the sale, repair, or exchange of any motor vehicle in accordance with Chapter 4 of Title 32 of the state’s regulations.
As principal of this surety bond, if ever a claim were paid against your bond, you would be required to indemnify the surety.
AmeriPro Surety Bonds is a surety bonds-only agency which provides license and permit surety bonds throughout Louisiana. Please call our agency today at:
Or, you may fill out the form below and an agent will contact you.