Tennessee Motor Vehicle Dealer License Surety Bond
Motor Vehicle Dealers License Surety Bonds are a classification of Commercial Surety Bonds that provide financial recourse to any harmed party that has transacted business with a licensed and bonded motor vehicle dealer.
Who is required to be licensed as a Tennessee Motor Vehicle Dealer?
The State of Tennessee requires anyone who is actively engaged in selling motor vehicles, selling more than five motor vehicles in a one year period, to be licensed with the TN Motor Vehicle Commission. In order to receive a motor vehicle dealer license in the state of TN, the licensee must post a $50,000.00 Motor Vehicle Dealer License Bond which must have a duration of two (2) years beginning in the month of the expected license issuance and expiring on the last day of the same month two (2) years later.
Other motor vehicle dealer licenses that require bonding are:
Motor Vehicle Auctioneer License Surety Bond
Motor Vehicle Mobility Dealer License
Call our expert staff today at 800-737-4880 or submit your dealer bond application to get a free, no obligation bond quote today.
How much does a Tennessee (TN) Motor Vehicle Dealer License Surety Bond cost?
We deal multiple surety companies and we are able to provide the lowest rates based upon the qualification of the applicant. With rates as low as $200/2 year term for TN Motor Vehicle Dealer bonds, we are sure we can get you the lowest rate for your bond. Credit problems are no problems for us! We have specialized bad credit surety bond programs to help you get the bond you need, without breaking the bank!
How do I get licensed as a Motor Vehicle Dealer in the state of Tennessee?
1. Have an established place of business with proper signage. The state has specific requirements with regard to space, parking, zoning, etc. The place of business must meet the following requirements:
- Minimum of 288 Sq Ft with ADA acceptable restroom facilities
- Lot capable of holding 15 or more vehicles for sale and a minimum of 3 parking spots for customers
- Adequate Signage - Complete Dealership name must be displayed, letters must be a minimum of 8 inches in height
2. Complete and submit the required TN Motor Vehicle Dealer License Application along with the required documentation listed below:
Minimum Requirements for Tennessee Motor Vehicle Dealer License.
Is your Dealer bond coming up for renewal?
We strive to save our clients money! Before you pay your bond renewal, let our underwriters evaluate your circumstances to see if you qualify for a lower rate. A simple credit report can save you hundreds of dollars. Complete our online bond application or call our offices at 800-737-4880.
Get your TN Motor Vehicle Dealers License Surety Bond today!
Apply for your Tennessee Motor Vehicle Dealer License Bond and let our expert staff get the bond you need at the lowest possible price!