What is the purpose of a California Motor Vehicle Wholesale Dealer Bond?
The California Motor Vehicle Wholesale Dealer Bond is used by dealers who sell vehicles wholesale, and is required by the California Department of Motor Vehicles. There are two separate versions of the bond, one at $10,000 for dealers who sell fewer than 25 vehicles per year, and one at $50,000 for those who sell more than 25.
What requirements need to be satisfied?
Although we are not directly involved in the licensing process, we have compiled a list of all other requirements to make it easier for you. Aside from the surety bond, the following must also be paid or submitted to the department:
- Completed application form
- $175 non-refundable application fee
- $100 auto broker fee
- $300 new motor vehicle board fee
- $70 for every dealer plate
- $72 for every motorcycle plate
- $1 family support program fee
- $70 for each additional business location
- Application for Original Occupational License
- Authorization to Release Financial Information
- Certificate of Proposed Franchise
- Application for Occupational License Personal History Questionnaire
- Appointment of Director as Agent for Service of Process
- Request for Live Scan Service
- Letter of Authorization
How do I obtain California Motor Vehicle Wholesale Dealer Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.