Vermont Motor Vehicle Dealer Bond
AmeriPro Surety Bonds | 844-589-9732
Licensing of Vermont Auto Dealers
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.
- Dealers who sold under 25 vehicles, require a $20,000 surety bond;
- Dealers who sold between 25 -100 vehicles, require a $25,000 surety bond;
- 101 – 250 vehicles requires a $30,000 surety bond;
- 251 and more requires a $35,000 surety bond.
The Premium and Qualifying
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
Purpose Of Your Surety Bond Requirement
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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