Oregon Auto Dealer Bond | AmeriPro Surety Bonds | 844-589-9732
AmeriPro Surety Bond provides an Oregon auto dealer bond for both newly licensed applicants and those who are renewing an existing license.
We provide some information below for those who may wish or need to obtain an auto dealer license.
Oregon Auto Dealers
Businesses or individuals who sell 5 or more vehicles within a calendar year are legally obligated to register as an Oregon auto dealer.
Failure to do so may subject the violator of fines up to $5,000 per vehicle sold, and a misdemeanor conviction.
Becoming Licensed as an Oregon Auto Dealer
Involved in becoming a licensed Oregon auto dealer are the following:
- An applicant for dealer licensing must first complete an 8-hour pre-licensing auto dealer course. The state of Oregon offers approved pre-licensing course administrators for your convenience;
- Tests during the pre-licensing course will be administered at regulated intervals. An applicant must score at least 70% on each test to receive a passing score;
- The applicant will need to complete a Oregon DMV dealer licensing application ;
- Applicants will need to pay an original certificate fee of $1187, and $350 for each additional location;
- The structure of the business will be required, along with the business’s FEIN number;
- Applicants will be asked about their prior personal history, but only to the extent that it relates to any prior suspensions or revocations —in Oregon —or elsewhere of any auto dealer licensing;
- Pictures of all owners of the auto dealer company along with their current residential addresses are required to be attached to the application;
- Applicants, both new and renewal, are required to maintain a surety bond. The Oregon Department of Transportation is the obligee.
Oregon Auto Dealer Bond: Amounts Required
The Oregon auto dealer bond, again, is required of auto dealers who sell 5 or more vehicles in the state.
The bond will be in one of two amounts according to Oregon law :
- Oregon auto dealers who sell motorcycles, mopeds, ATV(all terrain vehicles), or snowmobiles are required to obtain an auto dealer bond for $10,000;
- Oregon auto dealers who sell new or used vehicles are required to obtain an Oregon auto dealer bond for $50,000.00.
Oregon Auto Dealer Bond: Purpose of this Surety Bond
Regardless of the amount chosen, the purpose of the Oregon auto dealer bond is to protect the consumer from violations of the law, including, fraud, theft or criminal malfeasance in the performance of their duties as an auto dealership.
Oregon Auto Dealer Bond: The Premium and Duration of the Surety Bond
The premium for the lower of the two surety bonds is purchased for a period of 3 years.
Therefore, the premium for the $10,000 surety bond may be as low as a payment of $300; $100 for each year.
The $50,000 Oregon auto dealer bond may have a premium as low as $750.00
The $50,000 surety bond renews on an annual basis, concurrent with dealer licensing.
Applicants will pay a premium amount subject to a soft pull credit check.
And, AmeriPro Surety Bonds will work on your behalf to find the best surety bond pricing.
About AmeriPro Surety Bonds
AmeriPro Surety Bonds offers thanks you for your consideration of our agency for your surety bond needs.
You will not regret the service we provide; we will work diligently for your interests.
AmeriPro Surety Bonds is a surety bond-only agency which provides license and permit, contractor, and court bonds throughout Oregon.
We also provide surety bonds in all 50 states and we welcome the opportunity to gain your business.