North Carolina Auto Dealer Bond

1. Apply Online for a Bond

Lance Surety Bonds makes it easy to apply and receive your auto dealer bond online. We recently helped an auto dealer in Charlotte get bonded. He’s been in business for multiple years, but he felt the renewal process was a hassle. He simply used our online form and we assisted him in getting bonded quickly. 

2. Get a Bond Quote

Once you submit your application, we’ll work on getting you the best quote possible. Usually, these quotes come in fast, but sometimes, they can take up to 24 or 48 hours to process. Fortunately, auto dealer bonds are pretty straightforward in North Carolina. 

3. Pay the Bond Premium

Once you receive your quote, you can pay it online and receive your bond. If you need a hard copy, we can send that to you as well.

All dealers in North Carolina must carry a $50,000 bond, according to the Department of Motor Vehicles. This bond helps protect consumers in the event of fraudulent business practices. 

Unlike other states, North Carolina doesn’t have a bond table based on the types of vehicles you sell. All motor vehicle dealers, including those who handle wholesale and RV sales, must carry the same bond amount.

If you choose to expand your business, you only have to get a separate $25,000 bond for each new address. We make it easy to get bonded for more locations, giving you the flexibility to grow as much as possible.

In North Carolina, auto dealer licenses are valid for 12 months from the date of issuance. If you’re opening a new location, you need to submit new paperwork, including a separate bond. Each bond and license will have its own expiration date, so make sure to keep track. 

Lance Surety Bonds will send reminders long before it’s time to renew your bond. If you are late, the DMV will require you to submit a new dealer license application if it’s more than 30 days after the expiration. 

All the paperwork is available on the North Carolina Department of Motor Vehicles website.

In the event that someone files a claim against your surety bond, the process happens as follows: 

• First, the customer files a claim with the surety company (e.g., Lance Surety Bonds). 
• The surety investigates the legitimacy of the claim independently. 
• If the customer’s claim is valid, the surety will pay up to the full amount of the bond. 
• After paying the claimant, you are liable to reimburse the surety for the total.

While bonding is a simple process for auto dealers in North Carolina, getting a license is a bit more complicated. Knowing how to get your North Carolina Auto Dealer can help save you time and hassle. Documents needed when applying for a Wyoming dealer license are:

• Have an established salesroom and/or office
• A sign designating the trade name of the business in block letters not less than three inches in height on a contrasting background.
• Surety bond of $50,000 for one established salesroom and $25,000 for any additional salesroom.
• Obtain liability insurance.
• Applicants for a “used motor vehicle” dealer’s license must show proof that within the last twelve months they have completed a 12-hour licensing course approved by the Division.
• Compile the required documents
• Arrange for a business location inspection

Although you can submit documentation online, you can also correspond with the DMV via mail. The address is: 

N.C. Division of Motor Vehicles
Vehicle Services - Dealer Unit
3129 Mail Service Center
Raleigh, NC 27697-3129