Motor vehicle dealers selling more than 12 cars in a year are required to post an Indiana Motor Vehicle Dealer Bond as part of the process to license the dealership. This is a type of surety bond. and is required by the Indiana Secretary of State office. The official name of the document is INDIANA VEHICLE MERCHANDISING CERTIFICATE / BOND. Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.
- Required by: Indiana Secretary of State
- Minimum Bond Amount: $25,000
- Valid: 1 year – Renewable – Requires Continuation Certificate.
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount. The Indiana Motor Vehicle Dealer Bond guarantees the payment of fines, penalties, costs, and fees assessed by the Secretary of State after notice. If the bond is cancelled, the Secretary of State must be notified of the cancellation at least 30 days before the cancellation date.
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:
All licensing fees are required by the obligee, not the surety company.
How to get an Indiana Motor Vehicle Dealer Bond
At Surety1.com we make it simple to obtain the required Indiana Vehicle Merchandising Certificate / Bond. Our easy 3 step process is:
- Complete our easy to navigate and secure online application.1
- Review the free, no obligation quote from one of our surety bond professional agents, usually within 1 business day.
- Sign some paperwork and pay the bond premium.
Once these steps have been completed, Surety1.com will ship the Indiana Motor Vehicle Dealer Bond to the principal as both the bond company and the dealer owner must sign the surety bond form.
1 – The principal name and address on the Indiana Motor Vehicle Dealer Bond application must match the dealer name and address provided on your application and your signage.
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. We also maintain an A+ rating from the Better Business Bureau.