Motor Vehicle Dealers - New or New and Used Vehicles

The Wyoming Vehicle Dealer Bond is a surety bond required for businesses engaged in selling new motor vehicles or both new and used motor vehicles in the state of Wyoming. This bond serves as a financial guarantee that the dealer will operate in accordance with state laws and regulations governing motor vehicle sales.

Motor vehicle dealerships that sell new vehicles or a combination of new and used vehicles must obtain this bond as part of their licensing requirements with the State of Wyoming. The bond ensures compliance with consumer protection laws, proper handling of vehicle titles, and adherence to fair business practices in vehicle sales transactions.

The bond protects both the State of Wyoming and consumers who purchase vehicles from licensed dealers. If a dealer engages in fraudulent practices, fails to transfer proper title, or violates state regulations, affected parties can file claims against the bond for financial compensation up to the bond amount.

This bond requires a $25,000 coverage amount and has a one-year term. The bond is renewable annually, and dealers must maintain continuous coverage to keep their license active and continue operating legally in Wyoming.