The North Carolina Motor Club Initial Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Motor Club Renewal Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Motor Vehicle Dealer Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The North Carolina Motor Vehicle Dealer: 2nd Location/Branches Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Auto dealer surety bonds (also called motor vehicle dealer bonds) are mandated by the North Carolina Division of Motor Vehicles (DMV) and License and Theft Bureau as part of the licensing requirements for motor vehicle dealerships, manufacturers, factory branches, distributors, and wholesalers to conduct business in the state. The Division of Motor Vehicles sets the total bond amount at $50,000.
The surety company determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for North Carolina car dealer bonds typically cost between 1% and 3% of the total bond amount.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a North Carolina auto dealer bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
Below are the lowest premiums EZ Surety has issued for auto dealer surety bonds in the State of North Carolina.
North Carolina auto dealer bonds provide protection for customers, creditors, and the state government. When a North Carolina motor vehicle dealer posts a surety bond, they provide a guarantee to the bond’s Obligee (the North Carolina DMV) that they will conduct business in compliance with the conditions listed in Articles 12 and 15 of Chapter 20, North Carolina General Statutes.
If the auto dealer fails to comply with the statutes, the surety company will pay out financial losses to damaged parties up to the full bond amount. The auto dealer is liable to reimburse the surety for any damages paid under the bond.
To obtain your auto dealer license in North Carolina, you must meet the North Carolina DMV licensing requirements by completing the following steps:
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.