Alabama Motor Vehicle Dealer Surety Bonds are required by the Motor Vehicle Division (DMV) of The Alabama Department of Revenue for various types of motor vehicle dealers. The bond is issued in the amount of $25,000. Those who are required to post this bond include:
- New Motor Vehicle Dealers
- Used Motor Vehicle Dealers
- Designated Agents
- Motor Vehicle Rebuilders
- Motor Vehicle Reconditioners
- Motor Vehicle Wholesalers
- Motorcycle and Trailer Dealers
Those who have been issued an Alabama Motor Vehicle Dealer surety bond are guaranteed to comply with sections 40-12-390 through 40-12-400, as well as sections 32-8-34 and 32-20-22 of The Code of Alabama 1975.
Pricing for these surety bonds is determined by the credit score of the principal, and can range from $125 to as high as $2500.
Alabama Motor Vehicle Dealer Surety Bonds are continuous in nature, and require the submission of continuation certificate on an annual basis in conjunction with license renewals. Alabama motor vehicle dealer licenses expire every year on September 30th.
Once issued, these surety bonds are valid until canceled via the Alabama Department of Revenue. Bond cancellation is a 60 day process.
Please feel free to visit the Alabama Department of Revenue’s motor vehicle web page for more details regarding Motor Vehicle Dealer Surety Bonds.
Surety Bond Name
Motor Vehicle Dealer Surety Bonds – Alabama
$25,000Request a Free Quote