Colorado Motor Vehicle Salesperson Bond
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How much does a Colorado motor or powersports vehicle salesperson bond cost?
The Colorado motor or powersports vehicle salesperson bond costs $150 for the state-required 1-year term. You can buy your bond online 24/7 at your convenience.
Note: Colorado motor vehicle salesperson bonds are required for individuals employed by a licensed dealership. If you've been told you need a $50,000 surety bond for business licensing, you need a separate Colorado motor vehicle dealer bond.
Where can you get a Colorado bond of motor vehicle or powersports vehicle salesperson surety bond?
You can buy your bond securely online in minutes by providing the following information required for Colorado Department of Revenue approval.
- salesperson name
- address
- county
- license type
Once your payment is processed, your official motor vehicle salesperson surety bond will be sent to your email instantly.
How long will it take to get your Colorado dealer bond?
SuretyBonds.com offers instant vehicle or powersports dealer surety bond delivery 24/7. Purchase now to receive your official bond delivered in minutes by email.
What is a Colorado motor vehicle salesperson bond?
Colorado Revised Statute 44-20-113 requires individuals file a $15,000 surety bond before they can be licensed to work as a salesperson for a dealership. The state's form DR 2831 is officially titled the “Bond of Motor Vehicle Salesperson or Powersports Vehicle Salesperson.” The bond specifically requires licensed salespeople to work according to Colorado Revised Statutes §44-20-113(1) and §44-20-413(2) and prohibits them from committing fraud.
The state enforces a similar, but different, $50,000 surety bond requirement for dealership business licensing (form DR 2830). Learn more about the Colorado motor vehicle dealer bond.
Why do you need a bond to sell motor vehicles in Colorado?
By filing a Colorado vehicle salesperson bond, you agree to fulfill your professional obligations according to state law. If you fail to do so, the bond protects the state and consumers from financial loss due to your noncompliance. The issuing surety company will pay valid claims up to the full $15,000 bond amount, which you must then reimburse.
Who regulates licensing for auto dealers?
The Colorado Department of Revenue enforces all license requirements for the state's auto dealers. If you have questions about Colorado auto salesperson bond requirements or the status of your license application, the state advises you contact the Auto Industry Division by calling 1 (303) 205-5604 or emailing [email protected].
Who needs a Colorado salesperson bond?
The DOR requires this $15,000 bond be filed by individuals licensed in the following professions.
- motor vehicle salesperson
- powersports vehicle dealer salesperson
- motor vehicle and powersports vehicle dealer salesperson
How do I update or change my car dealer bond form?
If the Department of Revenue requires your bond documentation to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for these bonds include:
- salesperson name
- address
- county
- license type
How do I renew my auto dealer bond?
You should renew your auto salesperson bond before its current 1-year-term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond active for the next license term.
How do you become a licensed motor vehicle salesperson in Colorado?
To become licensed as a salesperson in Colorado, you must submit the following to the DOR. The dealer that employs you must complete the Employing Dealer's Certification section of your application.
- salesperson application
- Mastery Examination affidavit
- copy of $15,000 surety bond
- Affidavit - Restrictions on Public Benefits
- verification of fingerprints
- secure verifiable identification
- certified court documents (if applicable)
- written correspondence (if applicable)
- additional documents you feel are useful to the Colorado Motor Vehicle Dealer Board (if applicable)
- payment of fees
Submit your application and supporting documents to the Auto Industry Division.
Department of Revenue
Auto Industry Division
P.O. Box 17087
Denver, CO 80217-0087
Have Questions?
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