In the State of Wisconsin, individuals applying for a motor vehicle dealer license must submit and maintain a Surety Bond with the Wisconsin Department of Transportation (WDOT). These surety bonds protect individuals from financial loss due to unethical or unlawful acts committed by the principal (vehicle dealer) during the course of business, and guarantees that the principal complies with all conditions and provisions of Chapter 218 Wisconsin Statutes.
The WDOT offers a variety of license types and the bond amount varies per type:
- Retail Dealer – $50,000
- Wholesale Dealer – $25,000
- Recreational Vehicle Dealer – $25,000
- Motorcycle or Moped Dealer – $5,000
- Salvage Dealer – $25,000
- Wholesale Auction Dealer – $25,000
Wisconsin Motor Vehicle Dealer Surety Bonds have a continuous term and remain in full effect until canceled by the surety.
Pacific Surety is proud to offer industry low rates and quick turnaround time for quoting for Wisconsin Motor Vehicle Dealer Bonds. Feel free to complete our simple application to obtain an approval within hours.