A Maine Motor Vehicle Dealer Bond is a financial guarantee required for anyone who wants to sell cars, trucks, or other motor vehicles in Maine. This bond protects customers and the state if a dealer breaks the law, commits fraud, or doesn't follow state regulations. If a dealer causes financial harm to a customer, th…
Overview
What it is.
A Maine Motor Vehicle Dealer Bond is a financial guarantee required for anyone who wants to sell cars, trucks, or other motor vehicles in Maine. This bond protects customers and the state if a dealer breaks the law, commits fraud, or doesn't follow state regulations. If a dealer causes financial harm to a customer, th…
Who usually needs it
Motor vehicle dealers in Maine who sell five or more vehicles in a 12-month period, purchase vehicles to resell, or advertise or display three or more vehicles for sale within 30 days on premises must obtain this bond. This includes used vehicle dealers, new vehicle dealers, and general motor vehicle dealers, though equipment and light trailer dealers are e…
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 de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateMEBond amountVaries by license type or projectObligeeState of MaineBond classLicense BondCategoryMotor VehicleBondMaine Motor Vehicle Dealer BondJurisdictionStatePlain descriptionA Maine Motor Vehicle Dealer Bond is a financial guarantee required for anyone who wants to sell cars, trucks, or other motor vehicles in Maine. This bond protects customers and the state if a dealer breaks the law, com…Who needs this bondMotor vehicle dealers in Maine who sell five or more vehicles in a 12-month period, purchase vehicles to resell, or advertise or display three or more vehicles for sale within 30 days on premises must obtain this bond. …
