The Tennessee Motor Vehicle Commission requires a $50,000 surety bond for all auto dealers in the state to be licensed. The bond affords financial protection to the state and its citizens from monetary loss caused by a dealer’s fraudulent or negligent actions.
With Jet, you get direct access to the surety company and claims handlers—no agents or brokers in the middle to add fees. Eliminating the middleman simplifies the process and provides pricing options that work for everyone, including convenient monthly payments.
Jet can provide the $50,000 Motor Vehicle Dealer Bond for just $10 per month. If you prefer to pay for the bond upfront in full, it’s $175 for the required two-year term. The Auction Bond can be purchased for the same low price.
|Bond Type||Monthly||2-Year Term|
|Motor Vehicle Dealer||$10||$175|
Your personal credit and years of experience will determine the rate you qualify for. It only takes about three minutes to apply, pay, and be on your way!
The Tennessee Motor Vehicle Commission has the responsibility of overseeing the regulation and licensing of automotive businesses in the State. Auto dealers and auctions are required to obtain a surety bond to get and maintain a license.
The surety bond is a guarantee, provided by a third party (Jet), that compensation is available to those financially harmed by the actions of a Tennessee dealer. Tennessee’s state government leverages surety companies’ financial expertise to handle situations in an efficient manner, lessening costs on the Motor Vehicle Commission.
For information on laws applicable to motor vehicle dealers and auctions, reviews the Motor Vehicle Commission’s Law page.
Jet’s application only asks for the information necessary to (1) get you a quote, (2) fill out the bond form, and (3) provide us with contact information. With that being said, you can complete the entire bond process from start to purchase within three minutes.
After purchase, you’ll be able to download the bond form and your receipt for your records. We will send you the original signed and sealed bond form for filing at the address below:
Tennessee Motor Vehicle Commission
800 James Robertson Pkwy, Davy Crockett Tower, 5th Floor
Nashville, TN 37243