Motor vehicle dealers are required to post a Motor Vehicle Dealer Bond as part of the process to license the dealership. The amount of the bond depends on what type of vehicles are to be sold, the amount of vehicles you plan to sell, and other factors. Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.
- Required by: Connecticut Department of Motor Vehicles
- Minimum Bond Amount: $5,000
- Maximum Bond Amount: $50,000
- Valid: Renewable
Motor vehicle repairers must file a $5,000 bond, motor vehicle leasing/renting companies must file a $10,000 bond, and auto dealers must file a $50,000 bond.
This bond guarantees the principal will abide by all Connecticut state laws and regulations.
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.
Since this bond remains in full force and effect until it is cancelled or violated, the bond may be cancelled at any time with a written notice to the obligee at least 30 days before the cancellation date.
The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.
Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.
State licensing fees and requirements:
- Surety bond
- License application
- Supporting application documents (listed on official page)
- Business address and name
- $140 application fee
- Sales tax permit number
- Proof of insurance
- $280 examination fee only for new locations
All license fees are required by the obligee, not the surety company
For more license information, visit Connecticut’s official page: CT Dealer or Repairer License