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Bond To Secure A License As A Sales Finance Company (Motor Vehicle Sales)

This bond is required for businesses in Pennsylvania that want to provide financing for people buying motor vehicles. If you run a company that offers payment plans or loans to car buyers, you need this $10,000 bond to get your license from the Commonwealth of Pennsylvania. The bond protects consumers by ensuring your…

Bond amount$10,000
State or jurisdictionPennsylvania
ObligeeCommonwealth of Pennsylvania

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

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Overview

What it is.

This bond is required for businesses in Pennsylvania that want to provide financing for people buying motor vehicles. If you run a company that offers payment plans or loans to car buyers, you need this $10,000 bond to get your license from the Commonwealth of Pennsylvania. The bond protects consumers by ensuring your…

Who usually needs it

Motor vehicle sales finance companies in Pennsylvania—businesses that finance or solicit financing for installment sales contracts of motor vehicles, acquire such contracts, or lend money secured by them—must obtain this $10,000 surety bond as part of their licensing requirements under the Motor Vehicle Sales Finance Act and the Consumer Credit Code.

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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