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How Much Does a Hawaii Motor Vehicle Dealer Bond Cost?
A motor vehicle dealer bond in Hawaii costs between $100 and $20,000. The required bond amounts range from $10,000 to $200,000, depending on the types of vehicles sold. There is also a $200,000 bond requirement for dealer auctions.
You can purchase the required auto dealer bond through an authorized Hawaii surety company. Our surety company bonds more than 99% of our applicants, and we provide competitive rates ranging from 1% to 10%.
The cost of your Hawaii auto dealer bond depends on several relevant factors. These include your fixed and liquid assets, your credit score and your professional resume. We work with applicants with most credit scores.
We provide a 1% to 3% premium rate to applicants with at least a 700 credit score. The rate will be 3% to 5% with a credit score between 600 and 699. A 5% to 10% rate is available to applicants with a 599 or lower credit score.
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Surety Bond Cost Based on Credit Score |
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Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Hawaii Motor Vehicle Dealer Bond |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
|
Hawaii Motor Vehicle Dealer Bond |
$200,000 |
$2,000 - $6,000 |
$6,000 - $10,000 |
$10,000 - $20,000 |
|
Hawaii Motor Vehicle Dealer Bond |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
|
Hawaii Motor Vehicle Dealer Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
|
Hawaii Motor Vehicle Dealer Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
How to Get a Hawaii Auto Dealer Bond
1. Apply for Your Hawaii Auto Dealer Bond
Setting up your Hawaii auto dealer bond is easy to do with our straightforward process. To get started, take a couple of minutes to complete our short online application.
Kai needed a dealer license to open a used car dealership in Hawaii, and he contacted us. Within minutes, he completed the bond application and received an instant quote. We emailed the bond to him soon after he paid the premium, and he was able to complete the dealer license application quickly.
2. Review Your Quote
After submitting the bond application, our customers receive an immediate auto dealer bond quote. At times, an application is complex and requires greater review. We deliver quotes in these situations within 48 hours.
3. Pay the Premium Online
After reviewing your new bond quote, pay the premium online to finalize your purchase. Your dealer bond will be delivered to you via email. A mailed copy is also available, if requested.
Our friendly bond experts take pride in providing exceptional customer service, and we are available to help you set up your new Hawaii auto dealer bond. For assistance, contact us or call us at (877) 514-5146.
Start your auto dealer bond application. 100% money-back guarantee!
Motor Vehicle Dealer Bond Requirements in Hawaii
The Department of Commerce and Consumer Affairs - Professional and Vocational Licensing Division is the licensing authority for auto dealers in Hawaii. Dealer license and bond requirements are legally established under HAR Chapter 86, HRS Chapter 437 and HRS Chapter 436B.
Dealers must secure either a line of credit or a surety bond to fulfill licensing requirements. New vehicle dealers require a bond of $50,000 if selling fewer than 10 new units per month, or $200,000 if selling more. For used vehicles, the bond amount is $25,000 for fewer than 60 units per month and $100,000 for more. Motorcycle and scooter dealers need a $10,000 bond.
The obligees are the county’s treasurer as well as the Hawaii Motor Vehicle Industry Licensing Board. This is a continuous bond that remains effective until canceled. To cancel the bond, the surety company must provide a 30-day written notice to the principal and obligees.
How to Renew & Maintain Your Motor Vehicle Dealer Bond in Hawaii
While the Hawaii motor vehicle dealer bond runs continuously, the premium payment is due annually. If the payment is not made, the surety can cancel the bond. Your dealer license may be suspended as a result.
We will help you maintain your surety bond. Prior to the premium due date each year, we will be in touch with updated payment instructions.
Apply for a free no-obligations quote on your auto dealer bond!
What Happens If Someone Files a Claim in Hawaii?
To file a claim against an auto dealer’s surety bond, the claimant must directly contact the surety company. A thorough investigation will be conducted to determine the claim’s validity. An unsubstantiated claim will be denied.
The surety company will pay the claimant up to the bond’s penal sum if the claim is validated. The aggregate liability against the bond cannot exceed the bond amount. The dealer is liable for reimbursing the surety for the payout to the claimant.
How to Get Your Auto Dealer License in Hawaii
The Hawaii Department of Commerce and Consumer Affairs - Professional and Vocational Licensing Division is responsible for auto dealer licensing. You can learn more about licensing through the Hawaii dealer license guide.
When applying for a Hawaii dealer license, you must provide:
- Application form
- Surety Bond form or line of credit
- Self-inspection report
- Zoning compliance
- Color photos of the building
- Rental or lease agreement
- Customer trust account, for auctions
- Financial statement
- Entity documents
- Trade name
- Licensed salespersons
- Sales and service agreement, for new vehicle dealers
- Licensed repair facility, if applicable
- Fees
For additional information and to submit the licensing documentation, contact:
Hawaii Department of Commerce and Consumer Affairs
Professional and Vocational Licensing Division
HRH King Kalakaua Building
335 Merchant Street, Room 301
Honolulu, HI 96813
Phone: (808) 586-3000
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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!