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Wyoming Auto Dealer Bond

If you're in the auto dealer business and looking to set up shop in the state of Wyoming, you'll need a Wyoming auto dealer surety bond. These bonds are required as a way to ensure that motor vehicle dealers follow state and local regulations. It's a good idea to familiarize yourself with the basics surrounding these bonds to make sure you're meeting all the necessary requirements. The Surety Bond Experts at Viking Bond Service, Inc. can provide you with information about the regulations that apply to you, as well as assist you in getting the surety bond coverage you need to have a successful auto dealer business in Wyoming.

About Wyoming Auto Dealer Bonds

The Wyoming Motor Vehicle Dealer bond is a License Surety Bond that serves to protect Wyoming'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 Wyoming state legal statutes. A Wyoming Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing and/or vehicle registration process.

In Wyoming, the required Motor Vehicle Dealer bond amount is as follows:

  • Wyoming, Motor Vehicle Dealer bond requirement – $25,000 Surety Bond

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

How to Get an Auto Dealer Bond in Wyoming

Viking Bond Service, Inc. writes Wyoming 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 Bond Service is partnered with markets that welcome Wyoming Motor Vehicle Dealer bond applications and provide competitive quotes for them.

(See Also: Cost Expectations for Auto Dealer Bonds)

In order to get a good understanding on how motor vehicle surety bonds work in Wyoming, it's helpful to touch upon the basics of surety bonds in general. There are three parties involved in a surety bond arrangement:

  • First, the obligee is the entity, individual or agency that requires the surety bond. In this case, it's the state of Wyoming which requires auto dealers to be bonded.
  • Next, the principal is the party that need to have a bond. That's you, the auto dealer, in this scenario.
  • Last, the surety is the company that underwrites the bond. The surety issues and underwrites the bond, and steps in to resolve valid claims against the bond.

These three parties work together to satisfy the requirements of the obligee and the parties they represent.

Your Source for Surety Bonds

Viking Bond Service, Inc. has decades of experience providing surety bond solutions for auto dealers all around the US. We pride ourselves in offering a superior level of service to both experienced auto dealers and newcomers to the industry. Our Surety Bond Experts are happy to assist you from start to finish, throughout the surety bond process. When you're ready to get your Wyoming Auto Dealer Bonds taken care of, give us a call at 1-888-278-7389 or request a quote online!

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