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Maine Motor Vehicle Dealer, Maine Auto Dealer Bond:

The Maine Motor Vehicle Dealer bond is a License Surety Bond that serves to protect Maine's citizens by providing a path for recourse in situations where an Auto Dealer does not adhere to the laws, rules, and regulations as set in Maine state legal statutes. A Maine Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing and/or vehicle registration process.

In Maine, the required Motor Vehicle Dealer bond amounts are as follows:

  • Maine, Motor Vehicle Dealer bond requirement – Amount determined by sales:
    • For 0 to 50 sales, $5,000 Surety Bond
    • For 51 to 100 sales, $10,000 Surety Bond
    • For 101 to 150 sales, $15,000 Surety Bond
    • For 151 to 200 sales, $20,000 Surety Bond
    • For 201 sales and over, $25,000 Surety Bond

You should always check with the Maine Secretary of State, or requesting agency, for the most current required Maine Motor Vehicle Dealer bond amount as well as the required bond forms.

Viking Bond Service, Inc. writes Maine Motor Vehicle Dealer bonds. We can assist both clients with good credit, and clients with bad credit. Typically, the worse the credit, the higher the surety bond premium will be. In either case, we always work to get the best quote for you. Viking has partnered with markets that welcome Maine Motor Vehicle Dealer bond applications and provide competitive quotes for them.

(See Also: Cost Expectations for Auto Dealer Bonds)

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More About Surety Bonds:
Typical Performance Bond Cost, Rates, Premium

Performance Bond cost can vary based on several variables. Each application has unique aspects that affect the cost. Read about how the cost is figured.

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