Michigan Motor Vehicle Dealer Bond
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Michigan Motor Vehicle Dealer Bond.The state of Michigan requires a surety bond for several different kind of vehicle dealers license. The bond required is in the amount of $10,000. You can gain more information by visiting the State's information web page here.
Depending upon credit and the amount of the penal sum, this bond ranges between 1% - 5% and sometimes higher. It can be higher depending upon the applicant's credit. Please note that there may be an option for financing on bonds with high ratings for clients with challenged credit.
Once your bond is placed with with us we will notify you between 30-90 days prior to annual renewal.
Now that you've discovered your bond, the process is very simple. You can apply right online here. Once we receive your info we begin shopping your bond. Once placed we eMail you a firm quote. Our internal process is very simple. Don't worry, you will know exactly what to do each step of the way.