Why does the Arizona Department of Motor Vehicles require a Motor Vehicle Wholesaler Surety Bond?
Arizona Wholesale Motor Vehicle Dealer Surety Bonds are required by the Arizona Department of Transportation for wholesale auto dealers who sell used motor vehicles only to licensed motor vehicle dealers. Arizona Wholesale Motor Vehicle Dealer Surety Bonds ensure that anyone who has experienced losses or damages due to the missteps of the wholesale motor vehicle dealer receives financial compensation.
What else is required to submit for my Arizona motor vehicle wholesaler license?
- Fingerprint Card
- Authorization to Release Information Statement of Personal History (form 46-0407)
- Copy of your Transaction Privilege Tax License with physical address of dealership
- Articles of Incorporation/Organization
- Dealer Plat Application, if applicable
- Copy of the lease agreement/ownership document
- Payment of all applicable fees
What are the terms of an Arizona Motor Vehicle Wholesaler Surety Bond?
Once issued, these surety bonds are valid until canceled. Sixty days prior notice is required. Please feel free to visit the Arizona Department of Transportation’s web page for more details on Wholesale Motor Vehicle Dealer Surety Bonds.
What is the amount of an Arizona Motor Vehicle Wholesaler Surety Bond, and what will it cost?
These surety bonds are issued in the amount of $25,000 and ensure the wholesale dealer’s compliance with Arizona Revised Statutes Title 28, Chapter 10, Article 3. Pricing of these bonds is based on the principal’s credit score and range from $150 to over $700.
Pacific Surety offers a wide-range of approvals regardless of credit for Arizona Motor Vehicle Wholesaler Surety Bonds. Our strong surety relationships help get your price down as low as possible each year. No need to shop your rate, we do that for you!