How much does an auto dealer bond cost in Louisiana?
The Louisiana Motor Vehicle Commission requires new and specialty vehicle dealers to post $20,000 surety bonds.
As of August 1, 2016, all used vehicle dealers must post $50,000 surety bonds. More information regarding the change to the bond amount may be found at our blog.
New and used motor vehicle facilities must post $10,000 surety bonds.
These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit report. Don’t let less-than-stellar credit stop you from purchasing your surety bond quickly, easily and accurately! SuretyBonds.com offers an exclusive bad credit bonding program through which we approve 99% of applicants for the bonds they need. Request your free surety bond quote now!
| Bond Type | Bond Amount | Cost* | |
|---|---|---|---|
| $50,000 Motor Vehicle Dealer Bond Used Vehicle Dealers | $50,000 | Starts at $500 | GET A QUOTE |
| $20,000 Motor Vehicle Dealer Bond New Motor Vehicle Dealer | $20,000 | Starts at $200 | GET A QUOTE |
| $20,000 Motor Vehicle Dealer Bond Specialty Dealer | $20,000 | Starts at $200 | GET A QUOTE |
| $10,000 Motor Vehicle Dealer Bond New or Used Motor Vehicle Facility | $10,000 | Starts at $100 | GET A QUOTE |
We can provide your free, no-obligation bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or click here to get started!
Specialty and Facility Dealer Bond
Louisiana bonds for specialty vehicle dealers and new or used motor vehicle facilities ensure that principals (specialty vehicle dealers and facilities) comply with the conditions of any written contracts made by him/her in connection with the sale, repair or exchange of any motor vehicle, as well as with all provisions of Chapter 6 of Title 32 of the Louisiana Revised Statutes of 1950 and all other state laws. If the principals fails to conduct business according to these terms, the bond protects the state and any person who suffers financial loss as a result of the principal’s actions.
These bonds remain in full force and effect until canceled or until they expire on the date listed on the bond form. The surety can cancel the bond by giving written notice of its intent to do so to the Secretary of the Department of Public Safety and Corrections and the Executive Director of the Louisiana Motor Vehicle Commission via certified mail. Cancellation becomes effective 30 days after the notice is received.
For more information, visit the Louisiana Motor Vehicle Commission’s website.
The best way to find out exactly how much you’ll pay for your Louisiana surety bond is to request your free bond quote now!
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New and Used Dealer Bond
Louisiana new and used auto dealer bonds are put in place to ensure that principals (motor vehicle dealers) conduct business according to Chapter 4 of Title 32 of the Louisiana Revised Statutes of 1950. If the principal fails to conduct business lawfully and in compliance with the terms of the surety bond contract, the bond protects any person who suffers loss, damage or expenses as a result of the principal’s failure to conform to any law relating to the proper disposition of licenses, tags, titles, taxes and registration fees.
These bonds remain in full force until violated and remain in effect in support of the dealer’s license. Bonds for districts 1, 2 and 3 expire on December 31 of even years, and bonds for districts 4 and 5 expire on December 31 of odd years. Applicants should verify their mandated expiration date with the state. The surety can cancel the bond by giving written notice of its intent to do so to the Secretary of the Department of Public Safety and Corrections and the Executive Director of the Louisiana Motor Vehicle Commission via certified mail. Cancellation becomes effective 30 days after the notice is received.
For more information about used auto dealer bonds, visit the Louisiana Used Motor Vehicle Commission’s website. For more information about new auto dealer bonds, visit the Louisiana Motor Vehicle Commission’s website.
The best way to find out exactly how much you’ll pay for your Louisiana surety bond is to request your free bond quote now!