The Idaho Vehicle Dealer Performance Bond is required by the Idaho Transportation Department.
Idaho Code requires all vehicle/vessel dealers to file a performance bond with the department. The bond amount is $20,000 for retail car dealers. Motorcycle, all-terrain vehicle, utility type vehicle, truck campers, and snow machine dealers need a $10,000 bond. Wholesale only dealers must have a $40,000 surety bond. Click to apply online
In Idaho, you are a vehicle dealer if you:
- You solicit the sale, exchange, or consignment of vehicles that are not titled in your name.
- You sell, display for sale, exchange, or consign vehicles that are not titled in your name.
- You sell, display for sale, exchange, or consign 5 or more vehicles during the year, even though their titles do not bear your name.
- You engage in the business of selling, exchanging, or consigning vehicles. Includes participating in any other actions that could commonly be construed as selling or exchanging vehicles.
- You display vehicles for sale, exchange, or consignment on property that is neither owned nor controlled by the owners of the vehicles.
The bond remains in effect for five years after the dealership closes. Premium is not charged for the “tail” years. The cost of the Idaho Vehicle Dealer Performance Bond is as low as 1% per year*
There is a PRE-LICENSING DEALER EDUCATION requirement in Idaho. The Idaho State Independent Auto Dealers Association offers the required training. Surety1.com has been providing surety bonds in Idaho since 2003. We offer an easy to complete, online application and fast service.