The Wisconsin Department of Transportation requires a Wholesale Vehicle Dealer or Auction Dealer surety bond for anyone who sells, leases, offers, or negotiates sales or leases of motor vehicles in Wisconsin. The motor vehicle wholesale auction dealer license allows a business to conduct wholesale auctions in which vehicles owned by licensed dealers are sold to other licensed dealers.
Are there any additional requirements that need to satisfied to receive the bond?
In order to qualify for a license as a wholesale auction dealer, the applicant must submit the $25,000 surety bond. This bond must be from a surety company licensed to do business in the state. Aside from the bond, applicants must also establish a place of business. This location must comply with all local zoning and permit regulations. They must also pay the $100 fee for the registration. This is already for a whole year wholesale auction dealer license. Lastly, applicants must submit a lease for the business real estate, unless the applicant already owns it.
How do I obtain a Wisconsin Wholesale Vehicle Dealer or Auction 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.