1 (844) 589-9732 info@ameriprosuretybonds.com

Colorado Motor Vehicle Dealer Bond

AmeriPro Surety Bonds offers professional, friendly service and competitive pricing. The $50,000 Colorado motor vehicle dealer bond may be purchased for as little as $500, annually. Please call our agency today at 844-589-9732.

Colorado Motor Vehicle Dealer Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Auto Dealer License – Colorado

 

 

 

Auto dealers in Colorado undergo a pretty stringent process in order to be licensed. The Colorado Department of Revenue, Enforcement Division, oversees they licensing of Colorado auto dealers; it is also the obligee for the surety bond required.

To become licensed as a dealer, you must meet all of the following:

  • You must have a minimum net worth of at least $100,000;
  • You must have a minimum credit score, via Experian, the Texas based credit bureau — and the Vantage product — with a score of at least 701. If there is any derogatory information on your credit, you must explain why this is so;
  • You must undergo a background check. If you have been convicted of any crime – or plead no contest – you must include court documents with your application.
  • And meet and comply with other requirements.

In addition to the appropriate fee using the current fee schedule, you must furnish the Department with evidence of a surety bond.

 

 

 

Colorado Motor Vehicle Dealer Bond

 

 

 

The Colorado motor vehicle bond is:

  • A $5,000 surety bond for dealers who only sale small trailers (weighing less than 2,000 lbs.);
  • A $50,000 surety bond for dealers and wholesalers of new and/or used vehicles. Dealers under this category include powersports dealers and wholesale motor vehicle auction dealers.

 

 

The Premium or Cost of the Surety Bond

 

 

 

Applicants for the Colorado motor vehicle dealer bond will complete a standard surety bond application and a credit score inquiry. The application can be completed with a representative from our agency over the phone.

A well-qualified applicant for this surety bond ($50,000) may pay as little as $500, annually; however, the amount you pay will be determined by your application and credit. Presumably, since qualifying for the dealer license requires a high credit score, you will have no problem qualifying for this surety bond.

Applicants will typically pay about 1% of the premium; however, amounts may vary somewhat.

 

 

 

Prepayment of Premium

 

 

 

Additionally, prepayment of the premium for 2 or 3 years may be an available option. While entirely your decision, prepayment allows you to save over year to year renewal of the surety bond premium.

Using the $50,000 Colorado motor vehicle dealer bond at $500, annually:

  • If prepaid for 2 years, the premium amount is $900;
  • If prepaid for 3 years, the premium amount is $1300.

 

 

Its Purpose

 

 

 

The purpose of your Colorado auto dealer bond is to serve as a financial guarantee that you will be in compliance with Title 12, Article 6, of the Colorado Revised Statutes and any amendments or additions to the law, as also any other related laws and procedures.

While required of your dealership, this surety bond protects consumers from acts of fraud and criminal wrongdoing and malfeasance or misfeasance in the course of your profession.

Such protections would also extend to wrongdoing committed by any employees, agents, and managers of your Colorado auto or wholesale dealership.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, fiduciary, and court surety bonds throughout Colorado.

Our agency also provides surety bonds nationwide.

Please call us today at:

 

 

844-589-9732

 

 

 

Or you may complete the form below and an agent will contact you soon.

 

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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