All individuals and businesses seeking to obtain or renew a motor vehicle dealer license (including new, used, auction, moped, and motorcycle dealers) Required when: Application for or renewal of a motor vehicle dealer license
Overview
What it is.
All individuals and businesses seeking to obtain or renew a motor vehicle dealer license (including new, used, auction, moped, and motorcycle dealers) Required when: Application for or renewal of a motor vehicle dealer license
Who usually needs it
All individuals and businesses seeking to obtain or renew a motor vehicle dealer license (including new, used, auction, moped, and motorcycle dealers)
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.
StateRIBond amount$50,000Term lengthAnnualObligeeRhode Island Department of Revenue, Division of Motor Vehicles, Dealers' License and Regulations OfficeRenewalThe bond must be renewed annually and filed with the dealer's license renewal forms by December 31st of each yearBond classLicense BondCategoryMotor VehicleBondMotor Vehicle Dealer BondStatutory referenceR.I. Gen. Laws § 31-23.2-12; 280-RICR-30-20-1.6JurisdictionState
