Alaska Motor Vehicle Dealer Buyer’s Agent Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Auto Dealerships in Alaska
The Alaska Division of Motor Vehicles regulates vehicle dealerships in the state. In order to be licensed as an auto dealer in Alaska, you will need to provide one of two surety bond amounts:
- A $25,000 Alaska motorcycle dealer bond for those who will only be offering motorcycles for sale;
- A $50,000 surety bond for all other dealerships, including those who sale motorcycles in addition to other vehicles.
Qualifying and the Premium
Qualifying for either categories of the Alaska motor vehicle dealer buyer’s agent bond includes an application and a credit inquiry.
Obtaining the motor vehicle dealership surety bond is perhaps the most prominent part of your licensing process.
When you call us, we’ll begin and complete much of the application with you over the phone. In some cases, you may be asked to provide an electronic signature, in which case, we’ll have the final application emailed to you.
Thereafter, as part of the underwriting process, a credit inquiry is required. The approval rate for your auto dealership surety bond will be contingent upon your credit score.
Applicants with very good credit may be approved for as little as 1% annually; however, the percentage at which approval is offered will be determined almost entirely by your credit score.
Once the bond is approved, and the premium is paid, our agency issues your bond to you immediately for filing. We’ll notarize your bond as Surety. Your auto dealership bond, along with a Power of Attorney (POA) form will then be mailed to you.
Upon receipt, you’ll have your bond notarized as Principal. The address to file your documents to is:
State of Alaska
Commissioner of Administration
12050 Industry Lane
Building O, Suite 6
Anchorage, AK 99515
Purpose of Your Surety Bond Requirement
As stated under Alaska’s legislation, Section 08.66.060, your bond is a financial guarantee of your compliance with all rules and laws, as amended, involved either as a auto dealer, motorcycle dealer, or a business licensed as both.
The surety bond protects the state and the public from acts of fraud or malfeasance.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide surety bonds throughout Alaska. These include license and permit, court, and probate bonds.
As an online national surety agency, we provide also provide surety bonds in all 50 states.
Please call us today at:
Or, you may fill out the form below and a Surety Agent will contact you…