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:
Within minutes, you’ll be given the option to pay for your bond monthly, annually, or for several years up front.
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 Type||Bond Limit||Monthly||1 Year||2 Years|
|Motor Vehicle Dealer||$50,000||$34||$338||$591|
|Wholesale, Auction, Salvage, RV||$25,000||$17||$169||$295|
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.
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.
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.
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
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.