The $50,000 surety bond required of Nebraska motor vehicle dealers includes:
Regardless of the date of its purchase, your Nebraska motor vehicle dealer bond will have an expiration date of December 31st. Depending on when the bond is purchased, the premium can be prorated, and may therefore cost you less than a full year term.
What we discuss as far as premium pricing assumes a full calendar year.
To qualify for the Nebraska motor vehicle dealer bond, an applicant will complete a short surety bond application and undergo a review by an underwriter which also includes a credit score inquiry.
The inquiry type used by our agency; in fact, all other surety agencies as well, is a “soft” inquiry which will not adversely your credit score. Applicants will need to have good credit in order to be approved.
For a full year term, the premium will be 1%, or $500. After the premium has been paid, our agency issues the bond to you from our location and you will file your bond with the licensing Board. Your surety bond and Power of Attorney are mailed to you by the following business day. Overnight delivery is available for an additional charge.
You will also sign your bond as Principal before filing it with the state.
With a full term of one calendar year, the $500 premium will renew on December 31st. While the Nebraska motor vehicle dealer bond always has an expiration date of December 31st, you may prepay your surety bond for up to 3 years.
Prepayment of your bond’s premium allows you a savings over year to year renewals. The premium amount and savings --- assuming a full term with no prorating --- are as follows:
The surety bond is a financial guarantee of your compliance with all relevant provisions of the Nebraska Motor Vehicle Industry Licensing Act and Chapter 60-1401, and subsequent related laws of Nebraska’s statutes.
AmeriPro Surety Bonds is a surety bonds-only agency.
We provide license and permit surety bonds throughout Nebraska. Our agency also provides surety bonds nationwide.
Please contact our agency today at:
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