The West Virginia Department of Motor Vehicles requires a Used Motor Vehicle/House Trailer Dealer Bond in the amount of $25,000. This bond is to protect a purchaser, seller, financial institution, or agency from any fraud or fraudulent representations by the principal which cause financial loss.
What requirements need to be met?
A used motor vehicle dealer is defined as every person (other than agents and employees, if any, while acting within the scope of their authority or employment), engaged in, or held out to the public to be engaged in, the business in this state of selling five or more used motor vehicles in any fiscal year of a type required to be registered under the provisions of this chapter, except, for the purposes of this article only, motorcycles.
While a house trailer dealer is someone who is engaged in, or held out to the public to be engaged in, the business in this state of selling new or used house trailers, or both, or new or used, or both, house trailers and trailers or new or used, or both, manufactured homes and mobile homes. No one can practice these professions without first obtaining a license certificate from the division. Aside from the completed application form and the surety bond, they must also submit the following:
- 20/40/10 Dealer Liability Insurance.
- Personal property tax receipt in the name of each owner/corporate officer or an affidavit from the county in which the dealership will be located stating that no taxes are owed.
- Pictures of dealership and sign with letters no less than 4” in height.
- A valid business license in the state of W.V.
- Garage agreement if required.
- Franchise agreement if required.
How do I obtain a West Virginia Used Motor Vehicle/House Trailer Dealer Bond?
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety1 are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.