Vermont new and used auto dealers are regulated by the state’s Department of Motor Vehicles. As a licensee, first time or renewal, you are required to furnish a surety bond according to the following formula.
- New/first time licensees, whether offering new and/or used vehicles are required to provide a $35,000 surety bond.
If you are an existing motor vehicle dealer license holder, then the bond amount is based on the number of prior calendar year vehicle sales.
The standard premium rate is 2% of the Vermont motor vehicle dealer bond amount. This is for applicants with good credit.
Qualifying is by means of a short surety bond application. We’ll begin the application with you over the phone; however, you’ll complete the application which will require your signature, that of a witness (it does not need to be notarized), and a credit check inquiry.
Upon approval of your good credit, the bond is issued to you immediately after payment of the premium.
Along with your surety bond, a Power of Attorney form is issued to you. Both items will be filed with the Vermont DMV. Their address is:
State of Vermont
Department of Motor Vehicles
120 State Stret
Montpelier, VT 05603-0001
Your Vermont auto dealer bond is a financial guarantee of that you will comply with all laws concerning the operation of an auto dealership; and that you will remit all fees owed to the Commissioner of Motor Vehicles.
These are listed respectively as follows:
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, and probate surety bonds throughout Vermont.
As an online aggregator of surety bonds, we also provide surety bonds in all 50 states.
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