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Virginia Motor Vehicle Title Lender Bond

The Virginia motor vehicle title lender bond is a surety bond which is $50,000 for each location, with a maximum amount of $500,000. Please call AmeriPro Surety Bonds for your title lender surety bond at: 844-589-9732.

Virginia Motor Vehicle Title Lender Bond |

AmeriPro Surety Bonds | 844-589-9732

 

 

 

Motor Vehicle Title Lenders – Virginia

 

 

 

Motor vehicle title lenders operating in the Commonwealth are regulated by Chapter 22 of the Motor Vehicle Title Loans.

The laws, including those relating to the surety bond requirement are administered by the State Corporation Commission.

AmeriPro Surety Bonds provides you with the title lender bond as both a new and renewing surety bond.

 

 

 

Virginia Motor Vehicle Title Lender Bond: Amount Required and the Premium

 

 

 

The Virginia Code requires a Virginia motor vehicle title lender bond in an amount of:

  • $50,000 surety bond for each location;
  • with a maximum surety bond amount of $500,000.

The amount that you pay will be determined by the number of locations of title lending company, subject to the $500,000 maximum.

There need only be one surety bond which covers all locations of your vehicle title lending company.

Typically, an applicant with good credit may pay around 2% annually for the bond amount required; however, since information provided on both a surety bond application and credit scores will vary, only after completion of an application can a premium amount be determined.

Surety bond amounts which are higher ($100,000 and above) will have an application that may likely request additional information (financial statements, earnings, etc.)

Regardless of the surety bond amount required, our goal will be to have the bond issued to you as soon as possible.

 

 

 

The Purpose of this Surety Bond

 

 

 

The Virginia motor vehicle title lender bond is a financial guarantee which ensures your compliance with all rules of the Code of Virginia relating to title lending.

This bond protects the consumer from all violations of the Code, including willful negligence, theft, malfeasance and misrepresentation.

The bond’s protections also extend to wrongdoing committed by any employees, managers, and agents of your title lending company.

While this surety bond is required of you as a condition for licensing, the protections it offers are solely for the Commonwealth and your customers.

 

 

 

About Us

 

 

 

AmeriPro Surety Bonds is a surety bonds-only agency.

We provide license and permit, contractor, court, and fiduciary surety bonds throughout Virginia and nationwide.

Please call our agency today at:

 

 

 

844-589-9732

 

 

 

Or, you may fill out the form below and an agent will contact you…

 

 

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AmeriPro Surety Bonds

Our focus is exclusively surety bonds. We have two areas of concentration: YOU, our customer; and providing you with the surety bond that you need. Whether the bond is an "instant issue"; is for a contractor; a court bond; or one for a client with lower credit scores, AmeriPro Surety Bonds dedicates itself to providing our customers with a seamless, professional, and quick surety bond experience.

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