Missouri Car Dealer Bonds
Missouri auto dealers have a requirement of holding a $50,000 Motor Vehicle Dealer Bond. Jet works to deliver the lowest price possible by using various A-rated or better insurance carriers. Once the bond is purchased, Jet will send the original bond to the dealer for filing with the Motor Vehicle Bureau.
What is the Cost of a Car Dealer Bond in Missouri?
Prices of the motor vehicle dealer bond depend primarily on the owner’s personal credit, as well as a few other factors. Bond costs in Missouri start at $250 for a full year, or $21 per month.
|Price Tier*||Used & New Car Dealers|
|Monthly | Annual|
|Preferred||$21 | $250|
|Standard||$42 | $500|
|Credit Repair||$135 | $1500|
*Prices shown are for a one year bond term in MO and are based on several factors including, but not limited to, personal credit, license history, years in business and active licensing and bonding. Not all available pricing tiers are shown. Rates do not constitute an offer of bonding and are subject to change at any time.
What is the Process of Applying for a Dealer Bond?
The application process for the Missouri motor vehicle dealer bond is quick and easy. Click the button below to start the application and get your quote in minutes. The bond will be available for online purchase once quoted.
|Application for Car Dealers in Missouri|
|$50,000 Motor Vehicle Dealer Bond|
|$100,000 Bond for Auctions or Lost Titles|
Missouri Requirements of the Auto Dealer Bond.
Following Senate Bill 707, new and used car dealers in Missouri are required to carry a $50,000 bond. Dealers selling motor vehicles, powersport vehicles, boats, emergency vehicles, and trailers must have a $50,000 licensure bond. A $100,000 bond is needed by special event motor vehicle auctions and by dealers purchasing or accepting a vehicle without a title. Car dealers must have a bond to cover any fraud to the customer. Bonds are issued in compliance with the dealer license issued by Missouri. Dealer licenses, and bonds, expire on December 31st. Both the application to renew a dealer license and a bond application must be completed before expiration.
What Happens If There is a Dealer Bond Complaint?
In order to submit a claim in Missouri, the complainant has to fill out the Dealer Complaint Form (Form 4683). The form includes contact information, vehicle information, the dealer who the complaint is against, and whether legal support has been issued. Once the complaint has been submitted, the Department of Revenue will inspect the claim.
If the claim proves to be legitimate, the car dealer will be notified of the claim. The surety company will then pay up to the $50,000 bond limit on the claim, which must be paid back by the dealer. The dealer is also responsible to pay back any legal fees incurred during the claims process.
Missouri Car Dealer Facts.
In Missouri, it is illegal to sell cars on Sundays.
There are 4.2 million licensed drivers in the state of Missouri.
Missouri has 33,859 miles of state highway.