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Oregon Auto Dealer Bond

Oregon Auto Dealer Bond

If you're looking to get into the auto dealer business in Oregon, it's important that you understand the Oregon auto dealer bond process. Viking Bond Service is committed to educating aspiring auto dealers about local bonding requirements as well as serving as a trusted surety partner. No matter what your surety needs are, our auto dealer bond experts are happy to assist you.

Oregon Auto Dealer Bonds Explained

The Oregon Motor Vehicle Dealer bond is a License Surety Bond that serves to protect Oregon'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 Oregon state legal statutes. An Oregon Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing process.

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

  • Oregon, Motor Vehicle Dealer bond requirement - $40,000 Surety Bond
  • Oregon, Motorcycle, Moped, Class 1 All-Terrain Vehicle, or Snowmobile (exclusively or in combination) Dealer bond requirement – $2,000 Surety Bond

You should always check with the Oregon Department of Transportation Driver and Motor Vehicle Services, or requesting agency, for the most current required Oregon Motor Vehicle Dealer bond amount as well as the required bond forms.

Viking Bond Service, Inc. writes Oregon 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 Oregon Motor Vehicle Dealer bond applications and provide competitive quotes for them.

How to Get an Auto Dealer Bond in Oregon

The auto dealer surety bond process in Oregon involves three parties: the obligee, the principal, and the surety. The obligee is the one who requires this bond—in this case, Oregon state. The principal is the one who needs to be bonded to gain licensure and the surety is who underwrites the bond. Viking Bond Service provides surety solutions to the bonding process, while helping you connect the dots between your auto dealer business and the requirements of the state.

Oregon Motor Vehicle Dealer Bond Prices

Since there are many factors that go into determining the price of an auto dealer bond, there is no fixed premium amount. Premiums are calculated as a percentage of the bond amount and vary with factors like credit history, financial strength and bond history. With Viking Bond Service, you can be sure that you're getting the surety coverage you need along with the lowest premium rates possible. For those who have endured credit challenges, our poor credit surety bond program is designed to provide expanded opportunities those with less than perfect credit.

Let Viking Bond Service be your source for all your surety bond needs. We have the experience as industry leaders combined with the knowledge of Oregon's specific requirements. That makes Viking Bond Service your preferred partner when it comes to having a successful auto dealer business. Give us a call at 1-888-278-7389 or complete an application online to get your surety needs covered in a timely matter.

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