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Nevada DMV Broker Bond

Nevada DMV Broker Bond | AmeriPro Surety Bonds | 844-589-9732

 

Nevada DMV Broker

 

 

A Nevada DMV broker is a person engaged in the business of providing another person or persons services to purchase a vehicle, new or used, which may include arranging financing, leasing, and payment terms, for a fee, without having a personal or business ownership in the vehicle being purchased.

 

Occupational And Business Licensing

 

 

Nevada DMV brokers are regulated by the Occupational and Business Licensing Division of the Nevada Department of Motor Vehicles:

Their address is as follows:

Occupational And Business Licensing

555 Wright Way

Carson City, NV 89711

 

 

Becoming a Nevada DMV Broker

 

 

Applicants interested in becoming a Nevada DMV broker must complete an application with the Occupational and Business Licensing division.

In addition to other requirements, applicants will also be required to complete the following:

  • Pay a non-refundable application fee of $126;
  • Answering a personal history questionnaire. This application will include questions about prior job histories; scars, markings, and any tattoos on the body; the applicant’s arrest history, if applicable; whether or not one is in arrears for child support payments; and any felony convictions;
  • Providing a set of fingerprints for each officer of the DMV broker business. The fee is $36.25 and is also non-refundable;
  • A fictitious business name filing;
  • A license with the city or county where business is conducted;
  • The FEIN of the business;
  • Proof that the applicant has established a separate trust account where monies received from clients for a vehicle purchase are deposited;
  • The business must have a sign that is at least 8 inches high and 1 inch wide. The sign must be permanently fixed to the building, which is required to be large enough to hold an office;

 

And, importantly, a surety bond in the amount of $100,000 must also be filed.

 

The Nevada DMV Broker Surety Bond

 

 

The DMV broker bond is issued to protect client’s and customers of the DMV brokerage from any acts of fraud or criminal malfeasance which may be committed by a broker in the performance of their duties.

The bond, therefore, is not a type of insurance policy for the DMV broker.

In fact, the bond does not protect the broker at all.

The bond, rather, is issued in favor of the Nevada Department of Motor Vehicles and any customers of the broker.

It is solely to their benefit that the bond is issued on behalf of.

 

The Cost of the Nevada DMV Broker Bond

 

 

While the surety bond is for $100,000, applicants will only pay a small percentage of that amount.

The amount required for the bond will be determined by the applicant’s credit score.

Applicants with challenged credit scores will pay more in premium; however, AmeriPro Surety Bonds takes seriously providing all of our customers with the best pricing available.

We have payment and premium options for clients with challenged credit scores.

This bond is issued to run concurrently with the DMV broker license.

 

AmeriPro Surety Bonds

 

 

AmeriPro Surety Bonds provides DMB broker bonds, notary, contractor, and license and permit surety bonds for all 50 states.

 

Please consider our services when purchasing your Nevada DMV broker bond:

 

844-589-9732