Motor Vehicle Dealers - Used Vehicles Only

The Used Motor Vehicle Dealer City of Romulus bond is a regulatory requirement for businesses that sell used motor vehicles within the city limits of Romulus, Michigan. This bond ensures that dealers comply with all applicable city ordinances, licensing requirements, and business regulations.

Used motor vehicle dealers operating in Romulus must obtain this bond as part of their licensing process. The bond specifically applies to businesses that deal exclusively in pre-owned vehicles and must be maintained throughout the duration of their business operations within the city.

This surety bond protects the City of Romulus and consumers who purchase vehicles from bonded dealers. If a dealer violates city regulations, engages in fraudulent practices, or fails to fulfill their obligations to customers, affected parties can file claims against the bond for financial compensation up to the bond amount.

The bond requires a $10,000 coverage amount and has a one-year term. Dealers must renew this bond annually to maintain their license and continue operating legally within Romulus city limits.