Motor vehicle dealers are required to post a Kentucky 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.
About the Kentucky Motor Vehicle Dealer Bond
- Required by: Kentucky Motor Vehicle Commission
- Minimum Bond Amount: $15,000
- Maximum Bond Amount: Varies
- Valid: Renewable
The specific bond amount depends on amount of vehicles sold by the dealer yearly.
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.
This bond guarantees that the principal will abide by all Kentucky state laws and regulations.
The bond is in full force and effect until cancelled, so the obligee must be notified of bond cancellation within 30 days of cancellation.
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:
- Kentucky Motor Vehicle Dealer Bond
- License application
- Supporting application documents
- Business name and location
- Proof of insurance
- $100 license fee
- $40 application fee
- $20 background check fee
All licensing fees are required by the obligee, not the surety company.
For more licensing information, visit Kentucky’s official page.
How to apply for the bond
At surety1.com we make it easy to apply for your Kentucky Motor Vehicle Dealer Bond. Simply complete our easy to navigate, online application and within one business day one of our friendly surety bond agents will contact you with a free, no obligation quote for the bond. Then you will sign some paperwork, make payment (all major credit cards accepted) and your bond will be delivered to you via traceable mail. Over night delivery is available.
Surety1.com is a service of ASSUREDPARTNERS one of the largest and fastest growing insurance agencies in the nation. Surety1 is the premier online provider of surety bonds nationwide since 2003. Licensed in all fifty states and maintaining an A+ rating form the Better Business Bureau, surety1.com is the best option for all your surety bond needs.