Montana Motor Vehicle Dealer Bond
AmeriPro Surety Bonds | 844-589-9732
Motor Vehicle Dealers; Surety Bond Amounts
The Montana Department of Justice, Motor Vehicle Division licenses and regulates motor vehicle dealers in the state.
One of the requirements is that evidence of an original surety bond be filed. The amount of surety required depends on your specialty. The breakdown is as follows:
- New, used, wholesale, manufactured dwelling, auto auctioneers, require a $50,000 surety bond;
- Montana businesses which only sale motorcycles or quadricycles require a $15,000 surety bond;
- And businesses whose sole concentration are off highway/ATV vehicles, motorboats and snowmobiles, require a $5,000 surety bond.
Whatever category of surety is required, the surety bond will have an expiry date of December 31st. For those with good credit, we may be able to offer a prorated surety bond amount.
Qualifying and the Premium
Qualifying for any of these surety bond categories requires an application – -which we can take from you verbally over the phone – but which also must be signed.
Signatures, along with your application, may be submitted electronically. Upon receipt of a completed application, an underwriter review, which includes a credit inquiry, is standard procedure.
Approval is contingent upon your credit, and the rate offered is typically between 1% to 5% of the bond’s amount.
Upon payment of the premium to our agency, your bond, along with a Power of Attorney form, are sent to you immediately for filing.
Filing of your signed surety bond is facilitated through:
State of Montana, Department of Motor Vehicles
Title and Registration Bureau
1003 Buckskin Drive
Deer Lodge, MT 59722
Purpose of Your Surety Bond Requirement
The purpose of the Montana auto dealer bond is a financial guarantee which ensures your compliance with Montana Code Annotate 61-4-126(1). More generally, the bond protects the consumer from malfeasance on the part of a licensed auto dealer of whatever category.
AmeriPro Surety Bonds provides auto dealer surety bonds nationwide. We are also a provider of licensed and permit bonds in all 50 states.
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