Motor Vehicle Dealers - Used Vehicles Only

The State of Wisconsin Motor Vehicle Dealer/Wholesaler Bond is a surety bond required by the Wisconsin Department of Transportation for businesses engaged in buying, selling, or dealing in motor vehicles. This bond ensures compliance with state regulations governing motor vehicle sales and protects consumers from fraudulent or unethical business practices.

Motor vehicle dealers and wholesalers operating in Wisconsin 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 the State of Wisconsin and consumers who may suffer financial losses due to the dealer's violation of state motor vehicle laws, fraudulent activities, or failure to fulfill contractual obligations. If a valid claim is made against the bond, the surety company will compensate the damaged party up to the bond amount, and the bonded dealer must reimburse the surety.

This bond is available in amounts of $25,000 or $50,000, with the required amount determined by Wisconsin state regulations based on the specific type of dealership operation. The bond term is one year and must be renewed annually to maintain continuous compliance with state licensing requirements.