Louisiana Motor Vehicle Dealer Bond
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How much does a Louisiana motor vehicle dealer bond cost?
Louisiana motor vehicle dealer bond costs vary depending on the license type and bond amount needed. Your exact premium will be provided after a quick application review. Apply now to get your free, personal Louisiana dealer bond quote!
- $50,000 Used Motor Vehicle Dealer Bond costs start at $250 annually.
- $20,000 New Motor Vehicle Dealer Bond costs start at $200 annually.
- $20,000 Specialty Vehicle Dealer Bond costs start at $200 annually.
- $10,000 New or Used Motor Vehicle Facility Bond costs start at $100 annually.
How do you get a Louisiana auto dealer bond?
You can apply for your Louisiana auto dealer bond online 24/7. Simply select your license type and provide the following information for Louisiana Motor Vehicle Commission approval.
- dealer/dealership name
- physical business location
- parish/county
- district number
- dealer license number, if available
Once you've submitted payment, your official used motor vehicle dealer bond will be delivered by email. The state requires your new or specialty motor vehicle dealer bond to be physically issued and delivered, so we'll ship your official documents to your preferred mailing address.
How fast can I get an auto dealer surety bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver your official Louisiana auto dealer bond faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are typically issued same-day with emailed bonding confirmation.
If you have questions about the Louisiana auto dealer bond or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the dealer bond process so you can get back to running your business.
What is a Louisiana motor vehicle dealer bond?
Louisiana Revised Statutes Title 32 Section 791 requires individuals to file a surety bond as part of the state's auto dealer license requirements. These bonds ensure dealers, dealerships, and vehicle facilities operate their businesses according to Louisiana statutes, especially as it pertains to contractual terms regarding the sale, repair, or exchange of motor vehicles. If a dealer fails to do so, the bond protects the state and any person who suffers a financial loss as a result of the dealer's actions. The issuing surety company will pay valid claims up to the full bond amount, which the bonded dealer must then reimburse.
Who regulates dealer license requirements?
The Louisiana Motor Vehicle Commission enforces licensing rules and regulations for auto dealers in the state, including surety bond requirements.
The Louisiana Used Motor Vehicle Commission regulates auto dealers who sell used vehicles. If you have questions about the used dealer license or your dealers license application, you can call the Used MVC at 1 (800) 256-2977 or email [email protected].
Louisiana dealer bonds are required for motor vehicle dealer licensing. If you're trying to register an auto title company that issues or transfers vehicle titles, you need a separate Louisiana auto title company bond.
Who needs a Louisiana auto dealer bond?
Louisiana Revised Statutes define a “used motor vehicle dealer” as any individual person or business entity that intends to make a profit by selling, buying, brokering, exchanging, renting, auctioning, or negotiating 5 or more used vehicles in any 12-month period.
How do I update or change my motor vehicle dealer bond?
If the Louisiana Motor Vehicle Commission requires your surety bond documentation to be updated for any reason, contact your surety provider. If you purchased your auto dealer bond from SuretyBonds.com, email our customer service team at [email protected] to explain the needed change.
The most common changes requested are:
- dealer/dealership name
- physical business location
- parish/county
- district number
How do I renew my auto dealer surety bond?
You must renew your Louisiana auto dealer bond before the current term expires. The used motor vehicle dealer bond for dealers who sell used vehicles are issued for 2-year terms and always expire on December 31st. All other dealer bonds in the state are issued for standard 1-year terms.
Once you pay your SuretyBonds.com renewal invoice, instructions will be emailed to you to keep your bond active for your next license term.
How do dealers apply for a motor vehicle dealer license in Louisiana?
To apply for your Louisiana dealer license, complete the following steps.
- Complete and sign the relevant application for your license type.
- Attend an educational training seminar.
- Purchase a Louisiana surety bond in the bond amount required for your license type.
- Provide proof of business ownership.
- Fulfill zoning standards.
- Maintain a business sign and telephone.
- Submit a copy of your rental purchase agreement (if applicable).
- Purchase garage liability insurance (if applicable).
- Purchase rental insurance (if applicable).
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
