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Maryland Motor Vehicle Dealer Bond

Bond Requirements and Online Application

The Maryland Motor Vehicle Dealer Bond is a type of surety bond that is required by the Maryland Motor Vehicle Administration. The bond states that the bondholder shall conduct their business in full compliance with those Sections of the Transportation Article, of the Annotated Code of Maryland. In addition, they shall comply with all the Regulations of the Administrator of Motor Maryland Motor Vehicle Dealer Bond Vehicles. The bond is one of the requirements for those who would like to obtain a business license to establish a new dealership for selling new or used vehicles.  

How do you determine the bond amount?

The amount depends on the number of vehicles sold.

New Vehicle

  • 1-500 vehicles sold – $50,000
  • 501-1,000 – $75,000
  • 1,001-2,500 – $100,000
  • Over 2,500 – $300,000

Used Vehicle

  • 1-250 vehicles sold – $15,000
  • 251-500 – $25,000
  • 501-1,000 – $35,000
  • 1,001-2,500 – $50,000
  • Over 2,500 – $150,000

License Requirements

New Vehicle Dealer

  • Completed Application Form
  • Maryland Motor Vehicle Dealer Bond
  • Zoning Approval Form
  • Power of attorney – required only when a rider or new surety bond is submitted
  • Proof of Worker’s Compensation coverage
  • Criminal background check
  • Trader’s license copy
  • Business registration letter
  • Automotive Repair Facility Contract
  • Franchise Approval from the manufacturer
  • A new vehicle certification form
  • Insurance Information Form

Used Vehicle Dealer

  • Completed Application Form
  • Maryland Motor Vehicle Dealer Bond
  • Zoning Approval Form
  • Power of attorney
  • Criminal background check
  • Trader’s license copy
  • Business registration letter
  • Automotive Repair Facility Contract
  • Insurance Information Form

How to Obtain a Maryland Motor Vehicle Dealer Bond?

At Surety1.com we make it easy to obtain this surety bond. Our simple 3 step process is:

  1. Complete the easy to navigate and secure online application. 1
  2. Review the free, no obligation quote from one of Surety1’s professional surety bond agents, usually within one business day.
  3. Sign some paperwork and pay the bond premium.

Once these steps have been completed, the fully executed Maryland Motor Vehicle Dealer Bond will be shipped to the bond principal (licensee) for the required original signature.
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 and maintains an A+ rating from the Better Business Bureau.

 

How to Get Your Maryland Motor Vehicle Dealer Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Maryland Motor Vehicle Dealer Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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