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Auto dealer bond cost

The Connecticut Department of Motor Vehicles requires motor vehicle dealers, repairers and leasing/renting companies to post surety bonds to legally work within the state. Auto dealers must post a $50,000 bond, motor vehicle repairers must post a $5,000 bond and motor vehicle renting/leasing companies must post a $10,000 surety bond.

These bonds are subject to underwriting, so the price you’ll pay depends on the type of bond you need and on a review of your personal credit report. Bad credit? No problem! We offer an exclusive bad credit bonding program through which we approve 99% of all applicants. Request your free bond quote now!

Why this bond

Connecticut vehicle dealer bonds ensure that principals (dealer, repairers and leasing/renting companies) conduct business in compliance with all state and federal laws. If the principal conducts business unethically and unlawfully, the bond protects any person who suffers financial loss as a result of the principal’s actions. The surety covers all damages up to the full penal sum of the bond, and the principal must reimburse the surety for all damages paid out.

Auto dealer, repairer or leasing bond details

Connecticut motor vehicle dealer, motor vehicle repairer and motor vehicle leasing or rental company bonds remain in full force and effect until canceled or violated.

The surety can cancel the bond by giving written notice to the state at least 30 days prior to the effective termination date. Applicants should be sure to indicate the correct license type on the surety bond form.

Become a motor vehicle dealer or repairer in Connecticut

To become a licensed motor vehicle dealer or motor vehicle repairer in Connecticut, applicants must provide the following information and materials:

  • Type of license
  • Name under which business will be conducted
  • Full address of location for which license is requested
  • Mailing address, if different from location address
  • Type of business ownership
  • Proof of a factory franchise to sell vehicles at the business location
  • Surety bond in the proper amount
  • Certified and notarized application packet
  • And more

Access the complete licensing information packet from the Additional information section of this page. Begin the licensing process by purchasing the Connecticut surety bond you need quickly, easily and accurately.

Apply for your surety bond

Get a FREE Motor Auto Dealer Repairer Leasing Bond Quote Today! Click here to begin

 

Additional information