Motor Vehicle Dealers - Used Vehicles Only

Motor Vehicle Dealer Bond - Wyandotte, Michigan

This surety bond is required for used vehicle dealers operating within the city limits of Wyandotte, Michigan. The bond serves as a financial guarantee that the dealer will conduct business in accordance with local ordinances, state regulations, and ethical business practices.

Who Needs This Bond: Used vehicle dealers seeking to obtain or renew their dealer license in Wyandotte must secure this bond as part of the licensing requirements. This applies specifically to businesses dealing in pre-owned vehicles only.

Protection Provided: The bond protects the City of Wyandotte and consumers from financial losses resulting from the dealer's failure to comply with applicable laws, fraudulent practices, or breach of contract. If a valid claim is made against the bond, it provides up to $3,000 in coverage for damages.

Bond Details: This is a one-year bond with a coverage amount of $3,000. The bond is renewable annually and must remain active throughout the dealer's licensing period. This bond qualifies for instant approval, allowing for immediate processing and issuance upon application.