1. Start Your Application
2. Receive Your Free Quote
3. Buy Your Surety Bond
How Much Does a Nevada Vehicle Industry License Bond Cost?
The cost of a Nevada vehicle industry license bond ranges from $100 and $10,000. This is based on a required bond amount of $5,000 to $100,000, depending on the business’s activities. You are not required to pay the full amount of the bond, however.
By purchasing your vehicle industry license bond from an authorized Nevada surety bond company, you can pay a premium rather than the full bond amount. The premium rate is between 1% and 10% of the required bond amount.
Credit scores, financial strength and business experience determine the specific premium rate an applicant qualifies for. We provide bonds for most credit scores.
A credit score of 700 or higher qualifies for a 1% to 3% rate. The rate for a 600 to 699 score is 3% to 5%. Lower scores qualify for a rate between 5% and 10%.
Surety Bond Cost Based on Credit Score |
||||
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
Nevada Vehicle Industry License Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
Nevada Vehicle Industry License Bond |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
Nevada Vehicle Industry License Bond |
$75,000 |
$750 - $2,250 |
$2,250 - $3,750 |
$3,750 - $7,500 |
Nevada Vehicle Industry License Bond |
$80,000 |
$800 - $2,400 |
$2,400 - $4,000 |
$4,000 - $8,000 |
Nevada Vehicle Industry License Bond |
$100,000 |
$1,000 - $3,000 |
$3,000 - $5,000 |
$5,000 - $10,000 |
Nevada Vehicle Industry License Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
Nevada Vehicle Industry License Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
How to Get a Nevada Vehicle Industry License Bond
1. Apply for Your Bond Online
To set up your vehicle industry license bond in Nevada, also known as auto dealer bond, complete the online application. This short form requires only a few minutes of your time. More than 99% of applicants qualify for the surety bond they need.
When Carter reached out to us recently, he needed to buy a surety bond for a new vehicle dealership. We gave him an instant quote after he applied online. Carter used our online payment portal to pay the premium, and we emailed the bond directly to him. Now, he has a car dealership in Reno.
2. Review Your Quote
After submitting your bond application online, we’ll immediately send you a free, no-obligation quote. For more complex applications, we provide bond quotes within 48 hours.
3. Pay the Bond Premium
To complete your purchase and get your vehicle industry license bond, make the premium payment online. Then, you will receive the bond in your inbox. We can also mail the bond to you upon request.
Our surety bond company has more than 10 years of experience. We pride ourselves in providing a hassle-free process, and we want to help you get the bond you need. For assistance, contact us or call us at (877) 514-5146.
Vehicle Industry License Bond Requirements in Nevada
The Nevada Department of Motor Vehicles – Occupational and Business Licensing Department processes licensing applications and ensures compliance. The specific bond requirements vary based on the business’s activities. Required bond amounts range from $5,000 to $100,000.
Businesses that require licensing and bonding are dealers involved in the sales and leasing of new and used motor vehicles. In addition, boats, motorcycles, off-road vehicles, trailers and horse trailers dealers must be licensed and bonded. Garages and body shops also need a license and bond.
The license and bond requirements are established under Nevada Revised Statutes NRS, Chapters 482, 490 and 97. Additional chapters include 487, 108 and 597. The obligee is the Nevada Department of Motor Vehicles. The bond runs continuously without an expiration date.
How to Renew & Maintain Your Vehicle Industry License Bond in Nevada
The vehicle industry license bond in Nevada remains effective until it is canceled. However, you’re required to make premium payments to the surety company to maintain the bond. We will be in touch when the annual premium payment is due.
The surety bond may be canceled. The Department of Motor Vehicles must be notified in writing via certified mail within 30 days of the cancellation date.
What Happens If Someone Files a Claim in Nevada?
To make a claim against your Nevada vehicle industry business, the claimant must contact the surety company. The surety company will determine the validity of the claim by completing a thorough investigation. The surety company will deny the claim if it determines that the claim is unsubstantiated.
If the claim is validated, the surety company will pay the claimant the amount owed up to the penal sum of the bond. The Nevada dealer is then required to reimburse the surety company for the full sum paid out on the claim.
How to Get Your Vehicle Industry License Bond in Nevada
To do business in the state, you must know how to get a Nevada dealer license. The license application is processed by the Occupational and Business Licensing – Nevada Department of Motor Vehicles. Required documentation includes:
- Application form
- Surety bond
- Personal history questionnaire
- DPS fingerprint background waiver and $40.25 fingerprint processing fee for each principal
- Auto liability insurance certification
- City or county business license
- Fictitious name filing, if applicable
- Federal employer identification number (FEIN)
- Certificate of Incorporation and Corporate Filing, if applicable
- Business email address
- Business location and signage along with two color photographs
- A site inspection completed by the Department of Motor Vehicles
- A Dealer Franchise Certification, for new vehicle dealers only
- Letter of verification for World Manufacture Identifier (WMI)
- New license application fee - $125
For more information, contact:
Nevada Department of Motor Vehicles
Occupational and Business Licensing
555 Wright Way
Carson City, NE 89711
Phone: (775) 684-4690
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!