The Tennessee Motor Vehicle Dealer Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Auto dealer surety bonds (also called motor vehicle dealer bonds) are mandated by the Tennessee Motor Vehicle Commission as part of the licensing requirements for new and used car dealers and wholesalers to conduct business in the state. The Motor Vehicle Commission sets the total bond amount at $50,000.
The surety company determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for Tennessee auto dealer bonds typically cost between 1% and 3% of the total bond amount.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Tennessee auto dealer bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
Below are the lowest premiums EZ Surety has issued for auto dealer surety bonds in the State of Tennessee.
To obtain your auto dealer license in Tennessee, you must meet the Tennessee Motor Vehicle Commission licensing requirements by completing the following steps:
Tennessee motor vehicle dealer bonds are valid for a two-year period and must start on the first day of the month.
Dealer license terms are based on the surety bond terms and will have the same expiration date as the bond.
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
