In South Carolina, vehicle dealers and wholesalers must file a $30,000 surety bond with the Department of Motor Vehicles. A surety bond is a form of financial protection for the public if a motor vehicle dealer acts in a reckless or illegal manner.
With Jet, you can get your dealer bond within minutes. Click the button to get started:
A $15,000 bond is required for wholesale auctions, motorcycle dealers and wholesalers, and travel trailer dealers.
The cost depends on the bond limit, personal credit, and years of experience. With Jet, you can pay a convenient monthly price of $15 for the $30,000 bond, or pay in full for the year at $150.
|Bond Type||Bond Limit||Monthly||Annual|
|Motor Vehicle Dealer and Wholesaler||$30,000||$15||$150|
|Wholesale Auction, Trailer and/or Motorcycle Dealers||$15,000||$10||$100|
In it for the long haul? Jet also offers muti-year options, which are $263 for the $30,000 bond and $175 for the $15,000 bond.
First time applicants must go complete a thorough process before a bond can be filed, which includes:
After all these steps are complete, the license application, fees, and other documentation must be prepared and sent to the DMV. Renewing the license is much quicker, and steps can be found on the Renewing a Dealer License page.
Additional licensing requirements and details can be found on the Department of Motor Vehicle’s Dealer Licenses page.
Auto Dealer Bonds are required in all 50 states as they offer an effective way to guarantee restitution when a dealer fails or refuses to comply with licensing regulations. The surety bond protects both the state and its people from fraudulent and negligent acts. The South Carolina Department of Motor Vehicles is tasked with enforcement of state laws upon various motor vehicle businesses with the surety bond being just one of the requirements.
Jet (as the surety company) is the guarantor—we will provide claimants a payout up to the bond’s limit for valid claims. Surety bonds differ from the standard general liability policy becauuse they only pay out for damage that can be avoided and fixed. This means the licensee is held accountable and therefore must pay Jet back.
Laws regarding motor vehicle businesses can be found in South Carolina Code of Laws, Title 56.
From the click of the button above to checkout, you can expect to spend less than five minutes on the application. You’ll be provided with several payment options, and once you enter your credit card information your bond form will be ready for download, along with your receipt. The bond form must be filed at the following address:
Attn: Dealer License and Audit Unit
PO Box 1498
Blythewood, SC 29019