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Motor Vehicle Dealer License Bond

Motor vehicle dealers, including new, used, auction, broker, wholesaler, and others licensed under KRS 190.030, who do not meet the minimum financial responsibility requirements or as required by the Commission. Required when: Application for or renewal of a motor vehicle dealer or broker license when the applicant fa…

Bond amount"Up to $100,000. Applicants with unencumbered cash or inventory between $50,000…
State or jurisdictionKentucky
ObligeeKentucky Motor Vehicle Commission

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.

Amounts can vary

Selected requirement: "Up to $100,000. Applicants with unencumbered cash or inventory between $50,000…. Other available requirements: "Up to $100,000. Applicants with unencumbered cash or inventory between $50,000 and $100,000 must obtain a bond for the difference between their assets and $100,000. The Commission may also require a bond up to $100,000 if they have reason…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

Motor vehicle dealers, including new, used, auction, broker, wholesaler, and others licensed under KRS 190.030, who do not meet the minimum financial responsibility requirements or as required by the Commission. Required when: Application for or renewal of a motor vehicle dealer or broker license when the applicant fa…

Who usually needs it

Motor vehicle dealers, including new, used, auction, broker, wholesaler, and others licensed under KRS 190.030, who do not meet the minimum financial responsibility requirements or as required by the Commission.

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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23 years

Offering service to clients and agents alike.

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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