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License Bond

Motor Vehicle Dealer

Motor Vehicle Dealers - New or New and Used Vehicles

Overview

What it is.

Motor Vehicle Dealers - New or New and Used Vehicles

Who usually needs it

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…

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.

  1. Tell us the bond name, state, and amount on your form.
  2. Share business and applicant info so the team can quote it.
  3. Sign and pay; we issue the bond and send you the documents.
  4. 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.

Details

Bond details.

StateMN
Bond amount$5,000
ObligeeCity of Brooklyn Center, Minnesota
Bond classLicense Bond
CategoryOther
BondMotor Vehicle Dealer
Plain descriptionMotor Vehicle Dealers - New or New and Used Vehicles
Who needs this bondMotor 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 …
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Next step

Ready to move forward?

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.