Get a Free Bond Quote!
How Much Does a Utah Auto Dealer Bond Cost?
The cost of an auto dealer bond in Utah, also known as the Utah Motor Vehicle Dealer Bond, ranges from $750 to $7,500. This is based on the requirement of a $75,000 bond for new and used vehicle auto dealers. For other auto businesses and activities, a $10,000 or $20,000 bond is required.
Your auto dealer bond is available through an authorized Utah surety company. We have been providing bonds to our valued customers throughout the state for over a decade.
Bond premium rates range from 1% to 10% based on several factors, including the applicant’s financial strength, professional credentials and credit. Bonds are available for applicants with most credit scores.
Highly qualified applicants with a 700 credit score or better receive a premium rate of 1% to 3%. Applicants with a 600 to 699 credit score qualify for a 3% to 5% rate. With a credit score below 600, the rate will fall between 5% and 10%.
|
Surety Bond Cost Based on Credit Score |
||||
|
Surety Bond Name |
Surety Bond Amount |
Over 700 |
Between 600 - 699 |
Below 599 |
|
Utah Motor Vehicle Dealer, Special Equipment Dealer, Crusher or Body Shop Bond |
$75,000 |
$750 - $2,250 |
$2,250 - $3,750 |
$3,750 - $7,500 |
|
Utah Motor Vehicle Dealer, Special Equipment Dealer, Crusher or Body Shop Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
|
Utah Motor Vehicle Dealer, Special Equipment Dealer, Crusher or Body Shop Bond |
$10,000 |
$100 - $300 |
$300 - $500 |
$500 - $1,000 |
|
Utah Motor Vehicle Dealer, Special Equipment Dealer, Crusher or Body Shop Bond |
$20,000 |
$200 - $600 |
$600 - $1,000 |
$1,000 - $2,000 |
How to Get a Utah Auto Dealer Bond
1. Apply for Your Utah Auto Dealer Bond
Buying an auto dealer bond is easy to do with our streamlined process. Spend a couple of minutes completing the brief online application to get started. The application is straightforward and requires essential details, including information about the business, the bond type and the bond amount.
Mark was eager to complete his auto dealer license application quickly, and he chose to buy the required bond from us because of our fast process. Mark filled out the application online and instantly got a bond quote. After paying the premium online, he received the bond via email right away.
2. Review Your Quote
After submitting your bond application online, you will instantly receive a quote. If an application is complicated, however, we will review the application in detail and deliver a quote in 48 hours or less.
3. Pay the Premium Online
The last step is to pay your new auto dealer bond’s premium. Soon after you take advantage of our online payment portal, your dealer bond will be delivered to you via email. A mailed copy of the bond is also available, if requested.
Our supportive bond experts are available to answer your questions and assist with your bond purchase as needed. Please contact us or call us at (877) 514-5146 for personalized assistance.
Start your auto dealer bond application. 100% money-back guarantee!
Auto Dealer License Bond Requirements in Utah
The Utah Motor Vehicle Enforcement Division is responsible for auto dealer licensing and monitoring compliance with bond requirements. The requirement for an auto dealer license in Utah is established by the Motor Vehicle Business Regulation Act.
A dealer license and a $75,000 bond are required to sell, offer for sale, display or exchange new and used vehicles as well as specialty vehicles and large trailers. A $10,000 surety bond is required to sell, offer for sale, display or exchange small trailers, motorcycles and OHVs in Utah.
An auto body shop in Utah needs a $20,000 surety bond to obtain and maintain a license. Licensed crushers are required to have a $10,000 surety bond.
Apply for a free no-obligations quote on your auto dealer bond!
How to Renew & Maintain Your Auto Dealer Bond in Utah
After buying your auto dealer surety bond, it will be valid continuously until it is canceled. However, to maintain the bond and continue meeting the state’s requirement, the premium payment must be paid annually.
Our bond team will contact you prior to the next premium due date with payment instructions. The premium payment can conveniently be paid online.
What Happens If Someone Files a Claim in Utah?
A claimant must contact your Utah surety company directly to file a claim against your business. The surety company will investigate the claim thoroughly to determine its validity. If the claim cannot be substantiated, the surety company will deny the claim.
The claimant will be compensated if the claim is validated. In this situation, the surety company will pay the claimant up to your bond’s penal sum amount. You are responsible for reimbursing the surety company for the full amount paid on the claim.
How to Get Your Auto Dealer License in Utah
The Utah Motor Vehicle Enforcement Division is the authority on auto dealer licensing. You can also refer to the Utah dealer license guide for additional information. Licensing requirements include:
- Application
- Surety bond form
- An acceptable place of business with signage, verified by photos
- Utah State Business and Tax Registration
- Photos of all owners, partners and corporate officers
- Fingerprint Waiver and fingerprints of all owners, partners and corporate officers
- Completion of an orientation course
- Manufacturer authorization letter
- Business trade name filed with the Department of Commerce
- Dealer plates
- Application fees:
|
Application Fees |
|
|
New and used motor vehicle dealer |
$127 |
|
Special equipment dealers |
$127 |
|
New or used motorcycle, OHV and small trailer dealers |
$51 |
|
Dealer plates |
$12 + handling (each) |
|
Fingerprints |
$20 (each owner, partner or officer) |
For more information and to submit the required documentation, contact:
Utah Motor Vehicle Enforcement Division
210 North 1950 West
Salt Lake City, UT 84134
Phone: (801) 297-2600
It's FREE. No Obligations. Approval in Minutes.
About Us
Still Have Questions? Check Our FAQ Pages
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!