Motor vehicle dealers (new, used, motorcycle, or scooter) and motor vehicle auctions who cannot reasonably obtain the required inventory or flooring line of credit. Required when: Application for or renewal of a motor vehicle dealer or auction license when a line of credit is not provided as the primary form of securi…
Overview
What it is.
Motor vehicle dealers (new, used, motorcycle, or scooter) and motor vehicle auctions who cannot reasonably obtain the required inventory or flooring line of credit. Required when: Application for or renewal of a motor vehicle dealer or auction license when a line of credit is not provided as the primary form of securi…
Who usually needs it
Motor vehicle dealers (new, used, motorcycle, or scooter) and motor vehicle auctions who cannot reasonably obtain the required inventory or flooring line of credit.
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.
StateHIBond amountThe bond amount is based on the dealer type and average monthly sales volume: $…Term lengthContinuousObligeeHawaii Motor Vehicle Industry Licensing Board, Department of Commerce and Consumer AffairsRenewalThe bond remains in full force and effect until canceled by the surety. The license itself must be renewed biennially by June 30 of every even-numbered year.Bond classLicense BondCategoryMotor VehicleBondMotor Vehicle Dealer BondStatutory referenceHawaii Revised Statutes §437-7(d)(4); Hawaii Administrative Rules §16-86-12JurisdictionState
