(844) 589-9732

Connecticut Auto Dealer Bond

September 10, 2019

The Connecticut auto dealer bond is available for qualified applicants for $750 annually. Our agency also offers the auto repairer and auto leaser surety bonds. Please call AmeriPro Surety Bonds today at 844-589-9732.

Connecticut Auto Dealer Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Connecticut – Car Dealers

 

 

 

New and used car dealers in Connecticut are regulated by the state’s Department of Motor Vehicles.

Car dealers of whatever type (new and/or pre-owned) must submit evidence of a $50,000 surety bond as a condition of licensing. Our agency works with you to provide fair pricing.

Relative to the auto industry, the following businesses must also provide a surety bond.

  • Connecticut motor vehicle repairers must provide a $5000 surety bond;
  • Leasing auto companies must provide a $10,000 surety bond.

 

 

Qualifying and the Premium

 

 

 

For Connecticut motor vehicle repairers and leasing auto companies, qualifying for the respective surety bonds is simply by completion of a surety application (which we can take from you over the phone) and payment of the premium. For either of these bonds, there is no credit inquiry. What this means for you is that once the premium has been paid, the bond is immediately issued.

The $5000 Connecticut motor vehicle repairer surety bond will cost you $50 annually; the $10,000 Connecticut auto leaser surety bond will have an annual premium of just $100.

The $50,000 Connecticut auto dealer bond has qualifications which include a credit review, in addition to the standard surety bond application.

Our agency only works with applicants who have good credit. If you are approved for this auto dealer bond, the annual premium will be $750. Once paid, our agency issues the bond immediately and it is typically sent out by the same business day.

 

 

 

Surety Bond Duration

 

 

 

The Connecticut auto dealer bond and the other related bonds are active for one year from the date of issuance. Thereafter, the bond is renewed.

With the motor vehicle repairer and the auto leaser surety bonds, options exist to prepay these respective bonds for up to 3 years. Prepayment saves on renewing annually, besides lengthening the time between bond renewals.

 

 

 

Purpose of the Surety Bond Requirement

 

 

 

As stated within the surety bond wording, the purpose of any motor vehicle dealer or related entity surety bond is to serve as a financial guarantee that you will be in compliance with all respective rules, laws, and any amendments concerning your professional business conduct.

The bond also covers acts and omissions of a licensed Principal during the period in which you are licensed.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit bonds throughout Connecticut.

Our agency also provides surety bonds nationwide.

Please call us today at:

 

 

844-589-9732

 

 

Or, you may fill out the form below and an agent will contact you...

 

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