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Washington Motor Vehicle Dealer, Manufacturer or Wrecker Bond

Washington Motor Vehicle Dealer, Manufacturer or Wrecker Bond

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Who Requires the Motor Vehicle Dealer, Manufacturer or Wrecker 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 Washington State Department of licensing has established surety bonding requirements for various businesses operating in the motor vehicle industry in the state. The specific surety bond amounts required by business type are as follows;

  • $30,000 Vehicle Dealer Bond for retail and wholesale businesses or auctioneers that sell new or used cars, trucks or motor homes
  • $40,000 Vehicle Manufacturer Bond for businesses that manufacture mobile homes
  • $20,000 Vehicle Manufacturer Bond for businesses that manufacture travel trailers
  • $5,000 Vessel Dealer Bond for businesses who sell at least 15 watercraft per year with retail value above $2,000
  • $5,000 Registered Tow Truck Operator Bond for tow truck operators
  • $1,000 Vehicle Wrecker Bond for vehicle wreckers

 

How Much Will My Surety Bond Cost?

Take 2 minutes to provide the basic information required to get the best rates for your Washington Motor Vehicle Dealer, Manufacturer or Wrecker 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 vehicle dealer surety bond obligates the dealer, manufacturer, tow truck operator, or wrecker to comply with state laws and regulations. The bonded principal must refrain from fraud, or any fraudulent representation that results in monetary loss to a third party including a purchaser, seller, financing agency or governmental agency.

In the event of damages resulting from the dealer’s non-compliance with bond terms, the surety is bound to cover losses for harmed parties up to the full penalty of the bond.  Furthermore, the principal is obligated to indemnify the surety for any damages paid.




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