Class A, B, and D motor vehicle dealers in Michigan—specifically new and used vehicle dealers (Class A and B) and vehicle brokers (Class D)—must obtain this $25,000 bond to get licensed and operate legally as required by the Michigan Department of State under Section 248 of the Michigan Vehicle 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 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.
StateMIBond amount$3,000ObligeeCity of Wyandotte, MichiganBond classLicense BondCategoryOtherBondMotor Vehicle DealerPlain descriptionMotor Vehicle Dealers - Used Vehicles OnlyWho needs this bondClass A, B, and D motor vehicle dealers in Michigan—specifically new and used vehicle dealers (Class A and B) and vehicle brokers (Class D)—must obtain this $25,000 bond to get licensed and operate legally as required b…
