A $50,000 Designated Agent Bond is required by the Illinois Secretary of State, Dealer Licensing Section for all motor vehicle dealers selling five or more vehicles in a year. Save in minutes with Jet! We have price options that work for everyone.
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Jet's direct model allows for discounted annual and multi-year rates in addition to a convenient monthly option.
Jet’s rates start at $250 for one year or $25 monthly. The monthly option allows you to pay as you go, or you can get discounted rates by purchasing a multi-year term.
As with auto dealer bonds in all states, a soft credit check is required to be approved. In addition, your years of experience are a factor in the approved rate. A bond is required for each business location.
The Illinois Secretary of State, Vehicle Services Department, Dealer Licensing Section is responsible for the regulation of vehicle dealers and ensuring compliance with the Illinois Vehicle Code (625 ILCS 5/).
The surety bond works to financially protect the public when doing business with auto dealers by providing compensation for financial loss caused by a dealer’s deceit, such as odometer tampering, or negligence, such as failing to pay taxes and fees. The Secretary of State knows that these costs will be covered by utilizing a third-party surety company (Jet) to provide the dealer bond (and recompense, should it be necessary).
Jet's process allows you to be bonded within about two minutes! Just follow these steps:
The original signed bond must be filed with the Illinois Secretary of State at the following address:
Illinois Secretary of State
Dealer Licensing Section
501 S. Second St. Rm. 069
Springfield, IL 62756-7000
At checkout, you can choose to overnight the bond if you need it in a hurry.