Used Motor Vehicle Dealer, Wholesaler, or Auto Auction Bond
Used motor vehicle dealers, wholesalers, and auto auctions. In Arkansas, the definition of a used motor vehicle dealer includes any person who 'brokers' used motor vehicles. Required when: Required as a condition for obtaining or renewing a used motor vehicle dealer license. Exemptions: New motor vehicle dealers selli…
Overview
What it is.
Used motor vehicle dealers, wholesalers, and auto auctions. In Arkansas, the definition of a used motor vehicle dealer includes any person who 'brokers' used motor vehicles. Required when: Required as a condition for obtaining or renewing a used motor vehicle dealer license. Exemptions: New motor vehicle dealers selli…
Who usually needs it
Used motor vehicle dealers, wholesalers, and auto auctions. In Arkansas, the definition of a used motor vehicle dealer includes any person who 'brokers' used motor vehicles.
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.
StateARBond amount$25,000Term lengthContinuousObligeeArkansas State PoliceRenewalThe bond remains in effect until canceled by the surety. The licensee must pay an annual premium to the surety company to maintain coverage, and the license must be renewed annually with the Arkansas State Police.Bond classLicense BondCategoryMotor VehicleBondUsed Motor Vehicle Dealer, Wholesaler, or Auto Auction BondStatutory referenceArkansas Code § 23-112-607JurisdictionState
