1 (844) 589-9732

The Vermont motor vehicle dealer bond ranges between a $20,000 – $35,000 surety bond amount; first time licensees require a $35,000 surety bond. Approval is at a standard rate of 2% of the amount required. Please call AmeriPro Surety Bonds at 844-589-9732.

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:

 

 

 

About Us

 

 

 

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.

Please call us today at:

 

844-589-9732

 

Or, you may fill out the form below and a Surety Agent will contact you…

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