A Motor Vehicle Dealer Surety Bond is required for anyone who wants to sell cars, trucks, or other motor vehicles as a business in North Carolina. This $50,000 bond protects customers and the state if the dealer breaks the law, commits fraud, or doesn't follow proper business practices. Think of it as a financial safe…
Overview
What it is.
A Motor Vehicle Dealer Surety Bond is required for anyone who wants to sell cars, trucks, or other motor vehicles as a business in North Carolina. This $50,000 bond protects customers and the state if the dealer breaks the law, commits fraud, or doesn't follow proper business practices. Think of it as a financial safe…
Who usually needs it
Motor vehicle dealers, manufacturers, factory branches, distributors, distributor branches, and wholesalers.
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.
StateNCBond amount$50,000Term lengthContinuousObligeeNorth Carolina Division of Motor Vehicles, License and Theft BureauRenewalThe bond remains in full force and effect and does not automatically expire. It may be cancelled by the surety only upon 30 days' written notice to the Commissioner. Renewal is typically managed through the payment of a…Bond classLicense BondCategoryMotor VehicleBondMotor Vehicle Dealer Surety BondStatutory referenceN.C.G.S. § 20-288(e)JurisdictionState
