Anyone wishing to become a motor vehicle dealer in the State of Iowa must submit a $75,000 surety bond to the Iowa Department of Transportation (IDOT) as part of their licensing requirements. This surety bond ensures that the principal (motor vehicle dealer) complies with all rules and regulations set forth in Chapters 321 & 322 of the Code of Iowa.
Below are some of the requirements to obtain a license. Please consult the IDOT website for a full list of requirements.
- Be at least 18 years of age
- Complete all required educational courses
- Provide proof of sales tax license
- Submit all application forms
- Furnish a credit report and background check
- Submit a $75,000 surety bond
- Pay all application fees
Pacific Surety offers industry low rates and can obtain approvals for almost all credit situations. Once our simple application has been completed, we can have pricing to you within hours. If you have any specific questions, please contact our knowledgeable underwriting staff.
Surety Bond Name
Motor Vehicle Dealer Surety Bonds – Iowa
$75,000Request a Free Quote