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Colorado Motor Vehicle Dealer Bond

Colorado Motor Vehicle Dealer Bond

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Who Requires the Motor Vehicle Dealer Bond and Why Is It Needed?

Salesman. Motor Vehicle Dealer Bond for auto dealers or others who buy, sell, auction, or repair cars or other motor vehicles.

The Colorado Motor Vehicle Dealer Board requires that those engaged in the following business activities post surety bonds in the amount of $50,000. 

  • Used Motor Vehicle Dealers
  • New Motor Vehicle Dealers
  • New Powersports Vehicle Dealers
  • Used Powersports Vehicle Dealers
  • Vehicle Wholesalers
  • Wholesale Motor Vehicle Auction-Dealers

Motor vehicle or powersports vehicle salespersons may also be required to furnish a separate $15,000 surety bond.

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Colorado Motor Vehicle Dealer Bond. The quote request is free and there is no obligation to you. If you prefer, please call 1‐800‐608‐9950 to speak with one of our friendly bond experts. We can help guide you through the bonding process and identify the lowest cost in the market for your situation.

If you are interested in spreading out the cost of your bond over time, we can offer convenient financing plans for many types of surety bonds. More information will be provided with your quote.

What Does the Bond Protect Against?

The bond ensures lawful business practices and compliance with rules and regulations set out in 12-6 of the Colorado Revised Statutes. The bond protects third parties that may be harmed financially by fraud, fraudulent representation or other unlawful business practices of the bonded principal.

In a situation where the bonded customer (principal) fails to comply with surety bonding terms and requirements, the surety company is financially obligated to cover damages up to the bond amount or penal sum of the bond. As with all surety bonds, the principal agrees to indemnify the surety for any such losses paid to third parties.

What is Needed to Obtain My License?

The following is an overview of the key motor vehicle dealer licensing requirements in Colorado.

  • Completed Application (DR 2109)
  • License Fee
  • Pre-Licensing Education Certificate
  • Mastery Examination Affidavit (DR 2097)
  • Surety Bond
  • Secure Verifiable Identification
  • Statement of Financial Condition
  • Certificate of Good Standing
  • Business Plan
  • Photographs of Location
  • Dealer Plate Affidavit (DR 2640)
  • Sales Tax License
  • Additional items may be needed and exact requirements may vary based on applicant, license type or obligee discretion. Please see obligee and state links in the Other Helpful Information and Links section below or contact the obligee directly for more information.




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