The Arizona Vehicle Dealer Surety Bond is required by the Arizona Department of Transportation. Any person or company that sells new or used cars ion the state must be licensed and post a surety bond. The bond has a mandatory expiration date of August 31st every year.
First, you must know what type of motor vehicle license you are applying for. New is for those who want to sell new and used vehicles for retail, while wholesale will be on consignment. Used licensed is for selling used vehicles only. A Public Consignment Auction Dealer license is for those who can sell retail or wholesale, and for consignment, but only during a live auction. Wholesale license, meanwhile is only for selling wholesale to other licensed dealers.
An application must be submitted to the Arizona Department of Transportation, along with a criminal records check, and payment of fees for filing ($15), criminal records ($22 per individual), license ($100), $10 (provisional license), $50 (branch license). A surety bond will also need to be submitted along with the application.
The bond amount varies, please see below to see with bond amount you need:
|$100,000||New Motor Vehicle Dealer
Used Motor Vehicle Dealer
Public Consignment Auction Dealer
Wholesale Auto Auction Dealer
Wholesale Motor Vehicle Dealer
This surety bond is added security for the obligee, the state, that you, as the principal of the bond, will conduct your business as a dealer while following the rules and regulations of the state.
Surety Solutions Insurance Services, Inc. (Surety1) has made it very easy to get a surety bond. Simply complete our easy to navigate online application form, and within 1 business day, an agent will contact you with a quote. Once you pay and sign some paperwork, your Arizona Vehicle Dealer Surety Bond will be delivered via USPS priority mail. Overnight delivery is also available.
Surety1 has been providing Arizona surety bonds since 2003 and maintains an A+ rating by the Better Business Bureau. The company is licensed to operate in all 50 states and represents over a dozen “A” rated surety bond carriers.