The Oregon Department of Transportation requires motor vehicle dealers to obtain a surety bond as part of their licensing procedure. There are two different bond amounts depending on what type of vehicle the dealer sells.
- Bond Amount $10,000
- Motorcycle, moped, ATV’s and snowmobile dealers
- Bond Amount $50,000
- Motor vehicle and recreational vehicle dealers
These amounts replace the previous licensing requirements, effective January 1st, 2018 under Oregon Senate Bill 974. The bond ensures the dealer will follow all rules and regulations stated in the Oregon Revised Statues, Chapters ORS 822.020 and 822.030.
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.