Wisconsin Auto Dealer Bond

Wisconsin Auto Dealer Bond

Motor vehicle dealers licensed in Wisconsin must file a surety bond with the Department of Transportation, Dealers Section. The Dealer Bond ensures the public is compensated should they experience financial hardship at the hand of a licensed Wisconsin dealer.

Click the button to begin the bond process:

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Within minutes, you’ll be given the option to pay for your bond monthly, annually, or for several years up front.

How Much Does a Wisconsin Dealer Bond Cost?

The bond cost is based on the personal credit of the dealer, along with the bond limit and years the dealer has been professionally selling vehicles under their licensed business name. For the common $50,000 Retail Dealer Bond, rates start at $338 for one year or $34 monthly. Additional bond limits and their starting rates are shown in the chart:

Dealer TypeBond LimitMonthly1 Year2 Years
Motor Vehicle Dealer$50,000$34$338$591
Wholesale, Auction, Salvage, RV$25,000$17$169$295
Moped/Motorcycle$5,000$10$100$175
Wisconsin Motor Vehicle Dealer License Bond Rates

Lessors also need a surety bond when they will be listed as the lessor on the title of vehicles sold. The minimum bond amount for Lessors is $60,000.

The monthly option gives you more financial flexibility in the beginning and makes it so you don’t have to worry about bond renewal, as long as payments continue to go through. The annual and multi-year plans offer a discounted rate for paying at the time of issuance. For renewal, Jet will send you an email link where you can simply input payment information.

Why are Licensed Wisconsin Dealers Required to Hold a Surety Bond?

The Wisconsin Auto Dealer Bond guarantees compensation to any aggrieved persons that have lost money as the result of a dealer’s failure to comply with state laws. The surety bond is just one regulation in place to protect Wisconsin’s citizens.

Failing to follow the laws set forth in Wisconsin Statutes, Chapter 218 will result in fines, penalties, license suspension or revocation, or a bond claim. Claims occur for things such as odometer tampering and failing to deliver a title with the sale of a vehicle.

Get Your Wisconsin Motor Vehicle Dealer Bond in Minutes

Filling in some basic business information, such as your social security number (for the soft credit check) and business phone number and address, will get you through the application within 5 minutes. Click the button to get started.

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After all required information has been put in, you’ll be quoted with monthly, annual, and multi-year payment options; choose your preferred term and enter your credit card information to get instant access to your bond form.

Jet will file the bond for you, free of charge, but if you prefer to do so yourself, use the address below to file any paperwork.

Wisconsin Department of Transportation
Dealers Section
PO Box 7909
Madison, WI 53707

Email [email protected] for any questions regarding bond renewal or cancellation. Once we notify the Department of Transportation of cancellation, the bond will remain on file for 60 days before being cancelled.

We produce these bonds as Jet Insurance Services through our partnership with Lexington National Insurance Corporation.

Read About Dealer Bond Claims and Bond Handling With Jet

How to Renew My Bond

See the ins and outs surrounding renewing with Jet—it’s quick.

How to Cancel My Bond

Looking to cancel? This article has all the details you need.

Bond Claim Process

Read more about claim causes and the claim process for dealers.

Wisconsin Dealer Bond Form Example

Wisconsin Auto Dealer Bond Form

Notary Bond Application:

X

Business Information:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Employee Dishonesty Bond Application:

Business Information:

Business Description:

Coverage Requirements:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Contract Bond Application:

X

Business Information:

Owner Information:

Job Details:

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information:

Worker's Compensation Application:

X

Business Information:

Business Description:

Coverage Requirements

Indemnity Agreement:

I, the undersigned, hereby apply for a Dishonesty Bond also known as a Business Service Bond or Janitorial Service Bond (“bond”) to the Surety Company (“SURETY”) through Jet Insurance Company (“JET”), with whom I hereby grant the authority to act on my behalf with respect to the bond and assign as my Broker of Record, and declare that the statements herein are true and correct. In consideration of the SURETY issuing, renewing or substituting said bond(s), I, individually and as the owner or officer of the bonded entity, hereby understand and agree, as follows: (i) to reimburse, hold harmless, and indemnify SURETY upon demand for all loss, liability, claim, expense, including but not limited to attorneys’ fees, expert’s fees, investigative fees and claims handling fees, and any other cost which SURETY shall pay or incur in defense, adjustment, or settlement of such claims/suits by reason of such suretyship; (ii) that an itemized statement of loss and expenses by SURETY shall be indisputable proof of my liability to SURETY; (iii) coverage is subject to a $100 deductible; (iv) the employee must be convicted before coverage will apply (v) performance and any form of dispute resolution of this agreement shall take place in the county of SURETY's office of service; and (vi) a facsimile copy or electronically signed version of this agreement shall be binding as if it were an original. This agreement shall survive any changes in, substitute to or renewal of the bond(s).

Required Effect Date of Bond Policy:

Contact Information: