Auto dealer surety bond cost
All new, used and wholesale motor vehicle dealers in the state of Mississippi are required to post a surety bond in the amount of $25,000. If a principal intends to conduct sales at multiple locations throughout the state, there is an existing option to post a blanket bond of $100,000 that covers all locations in one rather than bonding each separate dealership individually.The amount you’ll pay for your Mississippi motor vehicle dealer surety bond depends directly on your application and financial credentials.
Bad credit? No problem! we have exclusive bad credit bonding program through which we can approve 99% of applicants – no matter their credit score!If you’re ready to get bonded, Give us a call at 888.610.4474 or submit a bond request to begin our fast and easy bonding process.
Why this bond
Motor vehicle dealer surety bonds are required in the state of Mississippi to ensure that the principal (vehicle dealer) operates within the confines of the law and pays all taxes, licensing fees and penalties that may be required. By posting this bond, the vehicle dealer also promises not to mislead or deceive customers through false advertising or any other deceptive statements regarding the sale or financing of a vehicle. Failure to maintain this bond could result in the revocation of a dealer’s license.
In Mississippi, vehicle dealers must post surety bonds in order to be licensed, and our specialists are dedicated to helping you secure the right bond for your business. Our experts and clear-cut bonding process make getting bonded quick and easy! Fill out a bond request form to get started.
Motor vehicle dealer bond details
MS motor vehicle dealers must remain in compliance with all conditions and provisions stated in the Mississippi Motor Vehicle Commission Law as well as Section 62-21-13 of the Mississippi Code of 1972.
Become an auto dealer
In addition to posting and maintaining a surety bond, auto dealers in Mississippi must complete the following steps in order to become registered:
- submit an application for dealer tags on a form prescribed by the Commission
- pay all mandatory application/filing fees
Apply for your surety bond
Get a FREE Mississippi Motor Vehicle Dealer Bond Quote Today! Click here to begin
- Mississippi Motor Vehicle Commission – Bond of New Motor Vehicle Dealer
- Recent Amendments Require All Mississippi Auto Dealers to Post $25,000 Surety Bond
- Mississippi Motor Vehicle Commission – Initial Application
- State of Mississippi Motor Vehicle Commission – Regulations
- Department of Revenue. Motor Vehicle Regulations – Dealers