A Connecticut Motor Vehicle Dealer Bond is a type of surety bond and is required to obtain a license to sell new and/or used cars in the state. The required surety bond for both is $60,000. The cost of the surety bond is usually between 1% and 3% of the bond amount. Surety1 will shop its many markets to procure the right price at the right terms.
How to Get a Connecticut Motor Vehicle Dealer Bond
At Surety1.com we make it easy to obtain this surety bond. Our simple, three step process is:
- Complete the easy to navigate and secure online application. 1
- Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
- Sign some paperwork and pay the bond premium
Once these steps have been completed, the Connecticut Motor Vehicle Dealer Bond will be shipped to the bond principal (licensee) to be signed and delivered to the CT DMV.
1-The name of the applicant on the surety bond application must match exactly the full legal business name of applicant for the license.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
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Click here to visit our state by state guide to Motor Vehicle Dealer bonds.
How to obtain a Connecticut Motor Vehicle Dealer License in Connecticut
The surety bond is just one of the requirements of the Connecticut Department of Motor Vehicles to obtain the “Regulated Business License”. It is illegal to sell motor vehicles to consumers in Connecticut without a Connecticut dealer license. It’s also illegal to sell motor vehicles within Connecticut if you
only have an out-of-state dealer license. The state distinguishes between new, franchise dealer licenses and used car licenses.
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:
- Connecticut Motor Vehicle Dealer Bond
- License application
- Supporting application documents (listed on official page)
- Business address and name
- Application fee
- Sales tax permit number
- Proof of insurance
- Examination fee only for new locations
All license fees are required by the obligee, not the surety company
The information provided above is for general informational purposes only and does not constitute legal advice. Do not rely solely on the information presented here as a substitute for professional legal counsel.
Click here to visit our state by state guide to Motor Vehicle Dealer bonds.
How to Get Your Connecticut Motor Vehicle Dealer Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.