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 Apply Now 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.
Auto dealer bonds in SC are priced as low as $100 yearly or $10 monthly. License type, personal credit, and years in business are factors that directly affect the cost.
|Bond Limit||Bond Cost*|
|Monthly | Annual|
|$15,000||$10 | $100|
|$30,000||$15 | $150|
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.
$25,000 Motor Vehicle Dealer Bond
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.
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.