South Dakota Motor Vehicle Dealer Bond - #1 Surety for MVD Bonds

South Dakota Motor Vehicle Dealer Bond

South Dakota Motor Vehicle Division and The Department of Revenue require all motor vehicle dealers also known as auto dealers to post a surety bond before conducting business.

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We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:

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What is a South Dakota Motor Vehicle Dealer Bond?

A surety bond is mandatory by most states throughout the country to acquire before operating as an auto dealer. Obtaining an auto dealer bond is required for all vehicle dealers in the state of South Dakota. Bond prices vary based on industry experience regulations and the applicant’s credit. These bonds are required by the state to assure that the motor vehicle dealer is conducting business according to state and licensing laws.

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Bonding Solutions | South Dakota Motor Vehicle Dealer Bond
Bonding Solutions | South Dakota Motor Vehicle Dealer Bond
Bonding Solutions | South Dakota Motor Vehicle Dealer Bond

How much South Dakota Auto Dealer Bond Cost?

Bonding Solutions has served clients and agents for over 20 years, helping the receive industry-low pricing. The South Dakota Regulation’s Division of Motor Vehicles requires vehicle dealers to surety bonds at varying amounts.

  • $5,000- Snowmobile or motorcycle dealer
  • $10,000-Trailer or Emergency Vehicle Dealer
  • $20,000- Boat Dealer
  • $25,000- Motor Vehicle Dealer, Mobile or Manufactured Home Dealer, or Final State Manufacturer

Bond pricing is subject to underwriting; therefore, you are not required to pay the full bond amount but only a percentage based on your credit. Typically, vehicle dealers pay 0.5% to 3% of the bond amount. Regardless of credit, we can help you earn a low rate on your surety bond with our proprietary programs. Get a quote today. 877.841.6745

Why is South Dakota Motor Vehicle Dealer Bond Required?

Surety bonds protect the consumer, not, the business. Posting a bond acts as a contract between the auto dealer, the surety company, and the state, which says that you will conduct legal business with no fraudulent actions. South Dakota’s motor vehicle bond states that you must do business in line with the laws of the state. This specific bond is continuous until canceled, it can be canceled by the surety giving written notice to the Department of Revenue which would come valid 30 days after being sent.

How do I get a South Dakota Auto Dealer Bond?

Posting a surety bond can appear complicated, but at Bonding Solutions, we make it simple and straightforward. Simply start with taking our online application or call. When we get the application information, we will underwrite the request and send the terms and pricing. After you pay for your bond, we will email and ship it to you the same day.

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Additional Resources

South Dakota DMV: Auto Dealer Licensing

State of South Dakota Motor Vehicle Laws and Regulations 

South Dakota Auto Dealer Requirments

Surety Bond List

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Call us today to speak to a Surety Bond Specialist

(877) 841-6745