Illinois Motor Vehicle Dealers
All dealers are required to be licensed. Each Dealers establishment must be inspected prior to obtaining their license. New car dealers are required to present a franchise letter and all dealers are required to obtain a tax nuber that is issued by the states Department of Revenue
Dealer License Fees:
- $1,000 Certificate of Authority
- $500 For each additional location
Illinois Designated Agent Surety Bond
A $20,000 surety bond is required in the State. The term of the bond most be for 36 Months.
- Bond: Designated Agent Bond
- Obligee: Secretary of State - Vehicle Dealer Services
- Obligee Address: 501 South Second Street, Room 069, Howlett Building, Springfield, Illinois, 62756
- Required Expiration Date of Dealer Bond: 12/31
- Surety Bond: Not Continuous, Requires Continuation Certificate
- Bond Form Revision Date: 4/2006
Bad Credit Program for Auto Dealers
Illinois MVD's with a low credit scores, or public records on their personal credit report (Bankruptcy, Liens, Collection, or Civil Judgments) may find a difficult time getting bonded. Bryant Surety Bonds, Inc offers a Bad Credit Surety Bond Program that is specially tailored to your needs and can get you approved. This program is available for all bad credit Auto Dealers.
*Information for state licensing is provided as a guide, always verify with the state that the information is correct.How to apply:
1.) Visit the commercial application page.2.) Complete our online application.
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