The Secretary of State, State of Maine, Motor Vehicle Division requires the Maine Motor Vehicle Dealer Surety Bond under MRSA Title 29-A, Section 901. This surety bond ensures that the bond holder will observe the provisions of Title 29 M.R.S.A. and all rules promulgated thereunder relating to the business of a motor vehicle dealer. The bond protects the Secretary of State, State of Maine, as well as any person who may suffer a loss due to the bond holder’s failure to comply with all applicable laws and rules. The bond amount varies based on the sales of the preceding year, as follows:
0 to 50 sales- $5,000
51 to 100 sales- $10,000
101 to 150 sales- $15,000
151 to 200 sales- $20,000
201 sales and over- $25,000
Initial licensees will file a bond based on projected sales
To determine the cost of this bond, complete our easy online application.
To Acquire a Maine Motor Vehicle Dealer Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.