1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
How Much Does an Alaska Auto Dealer Bond Cost?
An Alaska auto dealer bond, also known as motor vehicle dealer bond costs from $1,000 to $10,000. This cost is based on the state’s requirement for a $100,000 bond. A dealer selling only motorcycles needs a $25,000 surety bond. The cost of the bond ranges from $250 to $2,500.
Instead of paying the bond’s full sum to meet the licensing requirement, buy your bond from an Alaska surety company. We are a respected surety company with bond premium rates between 1% and 10%.
To determine the premium rate of an applicant, credit scores, financial assets and professional experience are considered. We offer bond programs to suit most needs and accommodate most credit scores.
A rate of 1% to 3% is offered to those with a 700 credit score or better. A rate of 3% to 5% is available with a 600 to 699 score. With a lower credit score, a 5% to 10% rate is available.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Alaska Motor Vehicle Dealer Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
Alaska Motor Vehicle Dealer Bond |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
How to Get an Alaska Auto Dealer Bond
1. Apply for Your Alaska Auto Dealer Bond
Whether you are applying for your first Alaska auto dealer bond or replacing an existing or expired bond, we proudly offer a hassle-free process. This process begins when you spend a few minutes filling out the online application.
Howie was preparing to open a new auto dealership in Juneau when he contacted us recently. With our short online application, he received a bond quote in minutes. We emailed his bond directly to him after receiving his online payment. Howie then finalized his dealer license application quickly.
2. Review Your Quote
Over 99% of our applicants are bonded, and most of our customers benefit from an instant quote after applying. In the event an application is more challenging, we will carefully review it and provide a quote in 48 hours or less.
We have served Alaska’s bond needs for over a decade and are ready to help you set up your dealer bond.
3. Pay the Premium Online
As you review your surety bond quote, our bond experts are happy to answer your questions. To finalize your purchase, simply pay the premium online. We provide dealer bonds via email, and we can mail it to you upon request as well.
We take pride in providing excellent customer service to our applicants. For assistance with your bond, please contact us or call us at (877) 514-5146.
Auto Dealer License Bond Requirements in Alaska
The Alaska Department of Motor Vehicles is tasked with licensing auto dealers and ensuring compliance with dealer requirements. A dealer license is required for those who sell six or more vehicles in Alaska in a year, including used vehicles.
Under House Bill 36, the surety bond requirement for motor vehicle dealers is $100,000. For dealers selling only motorcycles, the bond amount is $25,000.
This is a continuous bond with no expiration date. It runs until the surety cancels it. The bond’s obligee is the State of Alaska. The surety’s power-of-attorney should be attached to this signed and notarized surety bond upon submission to the Department of Motor Vehicles.
The aggregate liability against the Alaska auto dealer bond cannot surpass the bond’s penal sum.
How to Renew & Maintain Your Motor Vehicle Bond in Alaska
While the dealer bond runs continuously until the surety cancels it, the premium is due annually. The bond must be active in order for the dealer license to remain valid. If the bond is canceled, the dealer must provide a new bond to the Department of Motor Vehicles prior to the cancellation date.
To assist you in maintaining the auto dealer license bond, we will contact you prior to each premium due date with payment instructions.
What Happens If Someone Files a Claim in Alaska?
A claim against your dealer business in Alaska must be filed directly with the surety company. The surety will review the claim thoroughly and conduct an investigation. A claim that cannot be substantiated during the review will be denied.
The surety will pay the claimant if the claim is supported through the investigation. The payout cannot exceed the bond’s total penal sum or the aggregate total. The dealer is responsible for reimbursing the surety company for the amount paid to the claimant.
How to Get Your Auto Dealer License in Alaska
For full details about dealer licensing, the Alaska Department of Motor Vehicles is your source for information. You can also learn more through our Alaska dealer license guide. When applying for a license, the following information is required:
- Application
- Plate application
- Surety bond form
- Dealer temporary permit acknowledgement form
- Proof of liability insurance
- Passport-quality photos of all partners, owners, officers and members
- Business license
- Photos of the business location and signage
- $50 application fee
For more information and to submit the required documentation, contact:
Alaska Department of Motor Vehicles
Attn.: Dealer Services
4001 Ingra Street, Suite 101
Anchorage, AK 99503
Phone: (907) 269-5551
It's FREE. No Obligations. Approval in Minutes.
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What Our Clients Have To Say?
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!
Quick response times and turn around for issuing bonds. Great customer service and very knowledgeable. We have used Lance Surety multiple times and have never been disappointed. Highly recommend them and Collette!
Long story short, these guys cut through the B.S. and get the job done. Responsiveness, excellent! Communication, excellent! Respect for their industry partners, excellent! John, Collette, Ryan, you're all-stars! Thank you!
We decided for Lance Surety Bond's quote for 2 reasons; Price and Customer Service. Our Representative Ryan was just SUPERB!! [...] I highly recommend Lance Surety Bond for all your Bonding needs! I'll definitely come back for all of mine. :-) Thanks Ryan!