Motor vehicle dealers are required to post a Missouri Motor Vehicle Dealer Bond as part of the process to license the dealership. This is a type of surety bond and 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 Missouri Motor Vehicle Dealer Bond
- Required by: Missouri Department of Revenue
- Minimum Bond Amount: $50,000
- Maximum Bond Amount: Varies
- Valid: Continuous – Renewable
The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.
Since this bond is continuous, it remains in full force and effect until cancelled. If the bond is cancelled, a written notice of cancellation must be submitted to the Missouri Department of Revenue. Bond cancellation comes into effect 30 days after the Department receives the cancellation notice. This surety bond guarantees the principal will abide by all Missouri state laws and regulations.
Vehicle dealers that must be bonded include: power sport dealers , trailer dealers, new motor vehicle franchised dealers, boat dealers, wholesale motor vehicle dealers, and used motor vehicle dealers.
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:
- Surety bond
- License application
- Supporting application documents
- $12 background check fee
- Proof of insurance
- Register business name – $7 fee
- Business location inspection
- Copy of factory franchise agreement
- Factory franchise trade names and expiration date
All licensing fees are required by the obligee, not the surety company.
For more licensing information, visit Missouri’s official website.
How do I get a free quote for a Missouri Motor Vehicle Dealer Bond?
At Surety1.com, we make it easy to apply for this surety bond. Our simple 3 step process is:
- Complete our easy to navigate and secure online application.1
- Usually within 1 business day, review the free, no obligation quote from one of our professional surety bond agents.
- Sign some paperwork and pay the bond premium.
Once these steps have been completed, the Missouri Motor Vehicle Dealer Bond will be shipped for signature. Once signed, the surety bond is submitted to the Missouri Department of Revenue. Overnight shipping is available for a nominal additional fee.
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. We also maintain an A+ rating from the Better Business Bureau.