Nevada Auto Dealer Bonds
The Nevada Department of Motor Vehicles requires bonds of varying types throughout the state. The main ones are the $10,000 bond for utility or boat trailers weighing 3,500 or less, the $50,000 bond for utility or boat trailers weighing 3,501 or more and motorcycle dealers, the $100,00 bond for all other vehicle dealers.
Click the Let’s Roll Button above to get a same-day quote. Once the quote is prepared an email link is sent to the dealer that allows them to purchase the bond immediately. An original bond is then prepared and sent to the dealer to file with their inspector.
How Much Does a Motor Vehicle Dealer Bond Cost?
In Nevada, bonds cost as low as $100 for one year or $9 monthly. Dealership owner’s personal credit is the main deciding factor in price for the bond, but other factors include years in business and license type.
|Price Tier*||$100,000 Motor
Vehicle Dealer Bond
|$50,000 Motorcycles | Trailers
3,501 lbs. or more Bond
|$10,000 Motorcycles | Trailers
3,500 lbs or less Bond
|Monthly | Annual||Monthly | Annual||Monthly | Annual|
|Preferred||$38 | $450||$17 | $200||$9 | $100|
|Standard||$83 | $1000||$31 | $375||$21 | $225|
|Credit Repair||$127 | $1400||$79 | $850||$38 | $400|
*Prices reflected in the chart are the lowest prices available for car dealer bonds in Nevada. The rates are not guaranteed and are subject to change at any time. Not all available tiers are shown in the chart.
Bonding in Nevada.
The DMV in Nevada has bonding requirements for more than just auto dealers. Although auto dealers are included, trailer, motorcycle, and off-highway vehicle dealers must also carry a bond to protect the people of Nevada. Other vehicle-related businesses that are responsible for carrying bonds include brokers, wreckers, salvage pools, transporters, and even emissions stations.
As diverse as these businesses are, the bonds also have a wide range of pricing. The lowest bond limit comes from the emissions stations at $1,000. Some businesses have a bond limit of $50,000, such as trailer dealers or wreckers. Still, others such as auto dealers, brokers, and transporters must carry a bond limit in the amount of $100,000.
Applying For the Motor Vehicle Dealer Bond.
Jet wants the application process to be as painless as possible, which is why it can be done by simply clicking the apply now button below that corresponds with your needs, filling out the required information, hitting submit, and sitting back to wait for your same-day quote.
|Bond Applications for Arizona Dealers|
|$100,000 Bond for Brokers, Dealers, Rebuilers, Lessors, Distributors, Manufacturers, and Transporters|
|$50,000 Bond for Motorcycles and Trailers weighing 3,501 lbs or greater|
|$10,000 Bond for Utility or Boat Trailers weighing 3,500 lbs/ or less|
Why Are Surety Bonds Needed for Auto Dealers?
The purpose of bonds is to protect the public. Business transactions are not always free of fraud or misrepresentation, despite the dealer’s intentions. For example, customers can sometimes pay a higher cost than the worth of the vehicle because of false information provided by the dealer. If this happens, the bond will cover the customer for up to the full limit of the bond.
Once a claim is filed and approved by the Nevada DMV, the bond company will issue a payment in the appropriate amount for the claim. The customer will receive payment, but the dealer will need to pay back the price of the claim to the surety company.
Bond Reduction Request.
Auto dealers in Nevada have an opportunity to lower their required bond amount. By filling out a bond reduction request form, auto dealers can appeal for a lower bond in an amount that they choose.
In order to be approved for a lower bond amount, the applicant should have owned the business for five or more years and not had any administrative action received from the Nevada DMV. The DMV will check for lapses in bond coverage or derogatory actions against the business, either in the last five years or currently pending.