This bond is required for anyone opening a new car dealership in South Carolina. It's a $50,000 financial guarantee that protects customers and the state if the dealer breaks laws or fails to meet their legal obligations. For example, if a dealer takes your money but doesn't deliver the vehicle as promised, you could …
Overview
What it is.
This bond is required for anyone opening a new car dealership in South Carolina. It's a $50,000 financial guarantee that protects customers and the state if the dealer breaks laws or fails to meet their legal obligations. For example, if a dealer takes your money but doesn't deliver the vehicle as promised, you could …
Who usually needs it
New applicants seeking a motor vehicle dealer's or wholesaler's license in South Carolina, including retail dealers of cars and trucks, recreational vehicle dealers, and wholesalers (excluding motorcycle-only dealers), must obtain this bond as required by the South Carolina Department of Motor Vehicles. The bond ensures compliance with state statutes and pr…
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.
StateSCBond amount$50,000ObligeeState of South CarolinaBond classLicense BondCategoryMotor VehicleBondSouth Carolina Motor Vehicle Dealer Bond (New)JurisdictionStatePlain descriptionThis bond is required for anyone opening a new car dealership in South Carolina. It's a $50,000 financial guarantee that protects customers and the state if the dealer breaks laws or fails to meet their legal obligation…Who needs this bondNew applicants seeking a motor vehicle dealer's or wholesaler's license in South Carolina, including retail dealers of cars and trucks, recreational vehicle dealers, and wholesalers (excluding motorcycle-only dealers), …
