Massachusetts Auto Dealer Bond
There are 3 classes of dealers in Massachusetts: (1) New Dealers, (2) Used Dealers, and (3) Junk and Salvage. To obtain a license the following will be required: Proper zoning, Franchise agreements (class 1), Workers Comp Insurance, Auto Dealer Surety Bond, and Proof of location (Agreement of sale, lease agreement).
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Dealer License Fees:
- Dealer licensing carries a maximum $200 a year fee in Massachusetts, the municipality will set the amount.
Massachusetts Dealer Surety Bond
Class II dealers in Massachusetts will need to provide a $25,000 surety bond.
Bad Credit Program for Auto Dealers
Massachusetts 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 high 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.