A North Carolina motor vehicle dealer bond is one of the requirements contemplated under NCGS §20-288, for those that seek licensing in the state. North Carolina imposes pre-licensing education, inspection and title processing training requirements on licensees and sales representatives. Applications forms and helpful information for candidates is provided on the Department of Transportation portal.
Pursuant to NCGS §20-288(e), "Each applicant approved by the Division of Motor Vehicles for license as an auto dealer, manufacturer, factory branch, distributor, distributor branch, or wholesaler must file a North Carolina motor vehicle dealer bond. The amount of the surety bond for an applicant for a motor vehicle dealer's license is fifty thousand dollars ($50,000) for one established salesroom and twenty-five thousand dollars ($25,000) for each additional established salesroom. The auto dealer bond remains in full force and effect and may not be canceled by the surety unless the licensee stops engaging in business or the person's license is denied, suspended, or revoked OR by cancellation on thirty (30) days' written notice to the Commissioner for: (1) Nonpayment of premium in accordance with the terms for issuance of the surety bond; or (2) An act or omission by the license holder or his representative that constitutes substantial and material misrepresentation or nondisclosure of a material fact in obtaining the North Carolina auto dealer bond or its renewal continuation." Surety bonds and application materials must be submitted to:
North Carolina Division of Motor Vehicles
Vehicle Services Dealer Unit
3129 Mail Service Center
Raleigh, NC 27697-3129
North Carolina surety bond leader, Surety One, Inc., offers same-day servicing of your new or renewal dealer bond request. Our special programs allow us to offer you bonding regardless of your credit and financial condition. Damaged credit? No problem! We have non-standard bonding programs for North Carolina vehicle dealer bond applicants. Do you operate in multiple states? No problem! We offer motor vehicle dealer bonds in all states where they are required by law. We also offer certificate of title bonds occasionally needed in the course of your dealership operations.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.