Oregon Motor Vehicle Dealer Bond

Motor vehicle dealers are required to post a 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.

Surety Bond

• Required by: Oregon Department of Transportation
• Minimum Bond Amount: $10,000 (motorcycle, moped, all-terrain)
• Maximum Bond Amount: $40,000 (motor and recreational vehicles)
• Valid: Continuous – Renewable

This bond guarantees the principal will abide by all Oregon state laws and regulations along with all laws in Oregon Revised Statutes, Chapter 882. The price for the bond, also known as the bond premium, is only a small fraction of the bond amount. The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct. Since this bond is continuous, it remains in full force and effect until cancelled. If it is cancelled, the obligee must be notified of the cancellation at least 20 days before the cancellation date.

Physical Requirements of a Motor Vehicle Dealer Location in Oregon

The state has specific requirements for the actual location of the dealership. Therese include:

• Sufficient space to display one or more vehicles
• Provide a means for the public to contact the dealer or an employee of the dealer at all times during the dealer’s normal business hours
• Display an exterior sign permanently affixed to the land or a building.
  •  The display must identify the dealership by the name shown on the vehicle dealer certificate
• Have displayed, in a publicly accessible and conspicuous manner, the vehicle dealer certificate (License)

Oregon Motor Vehicle Dealer License Requirements

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:

1. Complete the pre-licensing education course.
2. Obtain a Oregon Motor Vehicle Dealer Bond.
3. Obtain liability insurance.
4. Obtain a business license from your city or county.
5. Find a physical location for your dealership.
6. Hire a qualified salesperson.
7. Apply for a used car dealer license from the Oregon DMV.

For more licensing information, visit Oregon’s official page.

How to obtain a Oregon Motor Vehicle Dealer Bond

At Surety1.com we make it easy to obtain this surety bond. Our simple, three 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 Oregon Motor Vehicle Dealer Bond will be shipped to the bond principal (licensee).
^{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. For information on license and surety bond requirements for motor vehicle dealers in other states, click here.