Oregon Motor Vehicle Dealer, Wrecker, and Rebuilder Bonds
What is an Oregon Motor Vehicle Dealer, Wrecker, or Rebuilder Bond?
The Oregon Department of Transportation requires that auto dealers and rebuilders in Oregon post surety bonds. The surety bond typically must be in the coverage or amount of $50,000 for new and used car dealerships, $10,000 for dealerships that sell Motorcycle, Moped, Snowmobile and/or ATVs only, and $10,000 for Motor Vehicle Wrecker / Dismantler / Rebuilders.
Get Your Oregon Motor Vehicle Dealer Bond
Why is an Oregon Motor Vehicle Dealer Bond Required?
The surety bond ensures that the dealer (bonded principal) conducts business without fraud or fraudulent representation, and in accordance with provisions of the Oregon Vehicle Code, ORS 822.030(2).
The surety bond is continuous and remains in effect for the entire period in which a dealer certificate has been issued by the Oregon Department of Transportation, and each succeeding certification period. The bond may be depleted over this period by claims paid and may be also canceled by the surety company through advance written notice to the Driver and Motor Vehicle Services Division of the Oregon Department of Transportation.
Motor Vehicle Dealer Bonds And Getting Your Oregon Business License/Registration
The following is an overview of the key motor vehicle dealer licensing requirements in Oregon.
- Applicant Certification, Signature & Photo ID
- Surety Bond
- Liability Insurance Certification
- Satisfaction of Dealer Education Requirements
- 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.
Additional Oregon Motor Vehicle Dealer Bond Resources & Links