Delaware Motor Vehicle Sales Finance Company Bond
AmeriPro Surety Bonds | 844-589-9732
Delaware Motor Vehicle Sales Finance Company License
Auto sales finance companies in Delaware are license by the state’s Office of the State Bank Commissioner.
A condition of licensing is that you obtain a $25,000 surety bond. Our agency offers you this bond with the ability to prepay your premium up to 3 years.
Qualifying and the Premium
Qualifying for the $25,000 Delaware motor vehicle sales finance company bond is by means of an application — which we can begin with you over the phone — but which you’ll also need to complete, sign, and have witnessed.
You’ll also be asked to provide your employer federal ID number and your license number.
As part of the underwriting of your bond, there will be a business or personal credit check review. Good credit is required for approval from us; the rate is $500 annually.
Upon approval of your sales finance company bond and payment of the premium, we’ll issue the bond to you immediately.
The bond will be sent to you by mail. Upon receipt, you’ll sign your bond as Principal, and file it and all related documents to:
State of Delaware
P.O. Box 8911
820 N. French Street
Wilmington, DE 19801
Premium Prepayment Options
Your surety bond may be prepaid for up to 3 years. Doing so saves you over annual renewals, besides lengthening the time between renewal of your premium.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $900, a $100 savings;
- If prepaid for 3 years, the premium is $1300, a $200 savings.
Purpose of Your Surety Bond Requirement
This surety bond is a financial guarantee which ensures your compliance with Chapter 29, Title 5 of Delaware Code. This legislation concerns paying all fees due to the state; and protects the state from acts of fraud and malfeasance on the part of a license finance company.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide sales finance company surety bonds wherever required nationwide.
Our agency is also a provider of license and permit, probate and other surety bonds in all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you…