Auto dealer bond cost
Arizona motor vehicle dealer surety bonds must be in the amount of $100,000 and are required by the Arizona Department of Transportation. The cost of Arizona motor vehicle dealer surety bonds is subject to underwriting, so it’s best to give us a call at 1 (800) 308-4358 to get a free, personalized bond quote.
For customers with less-than-ideal credit, our surety specialists utilize our bad credit surety bond program, which allows us to bond 99% of our customers! Our team of experts works personally with you to get you the best bond price possible.
Why this bond
Arizona motor vehicle dealer surety bonds exist to ensure the safety of the principal’s (vehicle dealer’s) customers. By posting this bond, the principal guarantees that he or she will adhere to all of the laws, rules and regulations found in the Arizona Revised Statutes. Some of these laws include:
- posting a business sign at the front of the store that is visible from 300 feet in daylight
- keeping and maintaining records of all vehicles
- obtaining a legal permit to conduct any exhibition, display or sales event off premises
- disclosing any damage and/or repairs to any buyer before the sale of a vehicle
If any malpractice takes place and a claim is brought against the bond, the principal is required to reimburse the surety after they have covered all of the damages up to the full bond amount.Arizona motor vehicle dealer surety bonds are continuous in fashion, meaning that unless the surety or obligee decides to cancel this bond, it will remain in effect. If the surety does decide to cancel this bond, 60 days notice prior to cancellation is required.
When filling out the bond form, the county of the principal must be known in order to ensure that it is authorized correctly. This bond form covers automotive recyclers and wholesale motor vehicles also, so make sure to only mark the ‘motor vehicle dealer’ option. If you plan on obtaining multiple licenses covered by this bond form, a separate bond form must be submitted for each license.Our surety specialists will work with you to ensure that the correct steps are taken so that you get the best price on the Arizona motor vehicle dealer bond you need.
Become a motor vehicle dealer
In the state of Arizona, getting bonded is just the first step to becoming legally authorized to act as a motor vehicle dealer. The Arizona Department of Transportation requires all vehicle dealers to be licensed. There are many requirements for this application process, but our team of experts is dedicated to making it as easy as possible for you. Below are a few major requirements that you’ll need to meet before being licensed:
- submit a $100,000 surety bond
- complete criminal record check
- submit copy of fingerprints
- submit copy of buy/sell agreement
- acquire established place of business
- have set business hours
- acquire and display business sign
Apply for your surety bond
Get a FREE Arizona motor vehicle dealer bond Quote Today! Click here to begin
- Arizona Motor Vehicle Division Vehicle Dealer Bond Form
- Arizona Motor Vehicle Division Motor Vehicle Dealer/Sales Finance Company Application Instructions
- Arizona Motor Vehicle Division Licensing Information
- Arizona Motor Vehicle Division Process Overview Dealer Licensing Services Motor Vehicle Dealer Licensing
- Arizona State Legislature Arizona Revised Statutes, Title 28 – Transportation