Motor Vehicle Dealers - Used Vehicles Only

The South Carolina Motor Vehicle Dealer and Wholesaler Surety Bond is a financial guarantee required by the South Carolina Department of Motor Vehicles for businesses engaged in buying, selling, or dealing in motor vehicles. This bond serves as protection for the People of the State of South Carolina against potential violations of state motor vehicle laws and regulations.

Motor vehicle dealers and wholesalers operating in South Carolina must obtain this bond as part of their licensing requirements. This includes used car dealers, automotive wholesalers, and other businesses involved in the retail or wholesale distribution of motor vehicles within the state.

The bond protects consumers and the state from financial losses that may result from the dealer's failure to comply with South Carolina motor vehicle laws, fraudulent business practices, or failure to pay required fees and taxes. If a bonded dealer violates state regulations or engages in dishonest practices, affected parties can file claims against the bond for compensation.

Bond amounts vary based on the type and scope of the dealer's operations, with coverage levels of $15,000, $25,000, or $50,000. The bond term is one year and must be renewed annually to maintain active dealer licensing status in South Carolina.