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How Much Does a Wisconsin Auto Dealer Bond Cost?
In Wisconsin, the cost of a motor vehicle dealer bond is between $100 and $5,000. Bond amounts range from $5,000 to $50,000 depending on the business activities and types of vehicles sold. However, you are not required to pay the full amount of the bond to get licensed.
As an authorized surety company in Wisconsin, we provide auto dealer bonds, also known as motor vehicle dealer bonds, at a competitive premium. The premium rate for an auto dealer bond is between 1% and 10%. Your credit scores, business credentials and financial assets impact the rate you receive.
An auto dealer bond applicant with a 700 credit score or higher qualifies for a 1% to 3% premium rate. With a 600 to 699 credit score, the premium rate will be between 3% to 5%. An applicant with a lower credit score will receive a 5% to 10% premium rate.
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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 |
|
Wisconsin Motor Vehicle Dealer Bond |
$50,000 |
$500 - $1,500 |
$1,500 - $2,500 |
$2,500 - $5,000 |
|
Wisconsin Motor Vehicle Dealer Bond |
$25,000 |
$250 - $750 |
$750 - $1,250 |
$1,250 - $2,500 |
|
Wisconsin Motor Vehicle Dealer Bond |
$5,000 |
$100 - $150 |
$150 - $250 |
$250 - $500 |
How to Get a Wisconsin Auto Dealer Bond
1. Apply for Your Wisconsin Auto Dealer Bond
We make it easy for you to buy your auto dealer bond. Our simplified process starts when you fill out the short online application. Only essential information is needed, such as your personal and professional information as well as the bond type and amount.
Morgan needed a dealer bond to complete the licensing application, and he recently turned to us because of our fast process and attractive premiums. From applying to reviewing the quote and paying the premium, Morgan completed the steps online and quickly got the necessary bond.
2. Review Your Quote
Our surety company has been serving Wisconsin’s bond needs for over 10 years. We provide bonds to more than 99% of our applicants. Immediately after submitting the application, your bond quote is available to review. For more challenging situations, we deliver quotes in less than 48 hours.
3. Pay the Premium Online
Through our online payment portal, it is easy to finalize your bond purchase. After making your payment, we will prepare your new dealer bond and email it directly to you. Upon request, we are happy to mail a copy to you as well.
We proudly maintain a hassle-free, quick bonding experience for our customers. If you have questions or require assistance with your purchase, we can help. Please contact us or call us at (877) 514-5146 for personalized assistance.
Apply for a free no-obligations quote on your auto dealer bond!
Motor Vehicle Dealer License Bond Requirements in Wisconsin
The Wisconsin Department of Transportation is the dealer licensing authority. A license is required if one vehicle is purchased with the intention to sell it. A license is also required if more than five vehicles are sold in a year if they were operated for personal use before being sold.
A $50,000 bond is required for motor vehicle dealers. Additional licensing requirements include a $5,000 dealer bond for motorcycle and moped dealers, and a $25,000 bond for motor vehicle salvage dealers, motor vehicle wholesalers, motor vehicle auction dealers and recreational vehicle dealers
The bond obligee is the State of Wisconsin. If a continuous bond is selected, the bond is in effect until it is canceled. The Department of Transportation must be notified in writing 60 days in advance of the cancellation. Otherwise, the bond expires at the specified date.
How to Renew & Maintain Your Motor Vehicle Dealer Bond in Wisconsin
Regardless of whether the bond is continuous or has an expiration date, the premium must be paid annually. The dealer’s license will be suspended if a bond expires or is canceled without being replaced by another bond.
Prior to the bond’s expiration date or premium due date, we will reach out to you with renewal and payment instructions. Renewals and payments can be processed online for your convenience.
Start your auto dealer bond application. 100% money-back guarantee!
What Happens If Someone Files a Claim in Wisconsin?
To initiate a claim, the claimant will contact the surety company directly. A thorough investigation will be completed to determine if the claim is valid. The claim will be denied if the claim is not substantiated.
The claimant will be compensated appropriately if the claim is validated. The compensation will not exceed the bond’s penal sum. You must then reimburse the surety company for the total amount paid on the claim.
How to Get Your Auto Dealer License in Wisconsin
Our bond experts can help you learn how to get a Wisconsin dealer license. Additional information is also available through the Wisconsin Department of Transportation. Licensing requirements for a retail auto dealer include:
- Application
- Dealer Surety bond
- Lessor bond, if applicable
- Entity/Owner Statement
- Business Facilities Statement
- Motor Vehicle Dealer Service Agreement
- Manufacturer/Importer/Distributor Certification of Dealer, if selling new motorcycles
- Salesperson/Representative License Application
- Buyer's License Application
- Salvage Buyer Identification (BID) Card Application
- Wisconsin Motor Vehicle Irrevocable Letter of Credit
- Articles of Incorporation
- Sales tax permit
- Property lease
- Manufacturer’s certificate
- Zoning approval
- Fees
For more information and to submit the required documentation, contact:
Wisconsin Department of Transportation
Dealer & Agent Section
P.O. Box 7909
Madison, WI 53707-7909
Phone: (609) 266-1425
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!