Alabama Motor Vehicle Master Dealer License Surety Bond
As of October 1, 2020, HB393 became effective, which subsequently replaced the current AL motor vehicle dealer, rebuilder, reconditioner and wholesaler licenses with a single Master Dealer License which will require a $50,000 surety bond. This license is also known as a Motor Vehicle Dealer License bond, Designated Agent bond and Dealer Regulatory License bond.
Who is required to post a $50,000 Alabama Master Dealer License Bond?
Any new and used motor vehicle dealers, including motorcycle and trailers dealers, wholesale dealers, rebuilders and or reconditioners are required to be licensed and post the required $50,000 surety bond. Previously the state required separate licensing for each license type. AL Department of Revenue Dealer License Application must be submitted electronically to the AL Department of Revenue with the required documentation. You must have a place of business in the state of Alabama to qualify for a license.
What does a $50,000 Alabama Dealer Surety Bond cost?
Applicants with good credit can expect to pay $350 per year for their bond. Credit issues will directly affect the rate you will be charged and your ability to be bonded. Complete our online application today to receive a free, no obligation quote.