South Carolina Car Dealer Bond
In South Carolina, retail motor vehicle dealers must carry a bond in the amount of $30,000. Wholesale auto auction dealers, motorcycle dealers, and motorcycle wholesalers must also carry a bond but with a limit of $15,000. Jet is able to provide low cost bonds for all licensed dealers, as they work with several A-rated insurance carriers.
By clicking Let’s Roll above, you can fill out the application in under a minute. Once Jet provides a quote, an email with a link will be sent to you to purchase the bond online. The original bond will be sent to you along with the power or attorney for filing with your inspector.
What Is the Cost of a Motor Vehicle Bond with Jet Surety?
Auto dealer bonds in SC are priced as low as $100 yearly or $9 monthly. License type, personal credit, and years in business are factors that directly affect the cost.
|Price Tier*||$30,000 Retail
|$15,000 Motorcycle &
Wholesale Dealer Bond
|Monthly | Annual||Monthly | Annual|
|Preferred||$13 | $150||$9 | $100|
|Standard||$37 | $450||$28 | $338|
|Credit Repair||$84 | $900||$70 | $750|
*Pricing for South Carolina Bonds is based on factors such as, but not limited to, personal credit, license history, and years in business. Not all available tiers are shown, are subject to change, and are not guaranteed.
Because Jet works with a variety of insurance companies, we strive to find the best price for you. Holding a $30,000 bond could cost you as low as $13 each month, or $150 if you choose to pay for one year in full. We offer a starting cost of $9 per month, or $100 per year for bond coverage in the amount of $15,000. Apply below for your bond quote today.
|South Carolina Auto Dealer Applications|
|$30,000 Car Dealer Bond|
|$15,000 Motorcycle Dealer Bond|
First-Time Dealer License Applicants.
Applying for a motor vehicle dealer license for the first time has a different process than dealers who have been licensed before. There are several things to be completed prior to turning in your application.
- Complete an 8-hour pre-licensing course, only for non-franchised dealers (An official certificate of completion must be included with the dealer application)
- Schedule a courtesy pre-inspection of business location
- File your business name with the Articles of Authorization
- Apply for a SC DOR Retail License. The retail license must be received prior to the dealer license application
- Acquire a city/county compliance document
- Turn in an application and receive The National Criminal Report
- Secure a surety bond and power of attorney in the amount suitable to your license
How to Avoid a Claim Against Your Motor Vehicle Dealer Bond.
Claims arise for various reasons, all that relate to the dealer acting in fraudulent ways. Failure to report a sale, tampering with an odometer, and financial fraud are just a few of the reasons someone may file a claim against an auto dealer bond.
Claims can be brought on by customers or the state in which the dealership is licensed to do business in. By following state and federal laws, documenting everything, and acting ethically, the dealer can be confident a legitimate claim will not be filed against their surety bond.