Platinum Bonds Insurance Agency
Research before you apply.Motor Vehicle Dealers - New or New and Used Vehicles
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.
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BBB A+ AccreditedView the agency profileMotor Vehicle Dealers - New or New and Used Vehicles
Motor vehicle dealers in Minnesota, including franchise dealers, used vehicle dealers, lessors, wholesale dealers, brokers, auctioneers, salvage pool dealers, and limited-use vehicle dealers who lease, sell, or arrange the sale of new or used vehicles as a business or profession, must obtain a $50,000 surety bond as part of their licensing requirements. Dea…
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.Issuance timeframe varies by bond type and underwriting
Timing can change when underwriting needs more information.Confirm the bond and provide applicant and business details.
See the terms and premium before deciding to continue.
Complete the required payment and signatures.
Get the issued bond and filing or delivery instructions.
Helpful guidance, a real agency team, and a clear path from research to application.
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“I highly recommend you do business with these folks.”
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