Kansas Auto Dealer Bond
If you're looking to be licensed as an auto dealer in the state of Kansas, you'll want to be well-versed when it comes to auto dealer bonds. Motor vehicle dealer bonds in Kansas are used to protect consumers from financial damages when they work with an auto dealer who breaches the sales contract. At Viking Bond Service, Inc. we're committed to helping auto dealers of all sizes get the surety bonds that they need.
Kansas Auto Dealer Bonds Explained
The Kansas Motor Vehicle Dealer bond is a License Surety Bond that serves to protect Kansas'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 Kansas state legal statutes. A Kansas Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing and/or vehicle registration process.
In Kansas, the required Motor Vehicle Dealer bond amount is as follows:
- Kansas, New/Used Vehicle Dealer bond requirement - $30,000 Surety Bond
- Kansas, Auction Vehicle Dealer bond requirement - $30,000 Surety Bond
- Kansas, Salvage Vehicle Dealer bond requirement - $30,000 Surety Bond
- Kansas, RV Broker bond requirement - $30,000 Surety Bond
- Kansas, Vehicle Converter bond requirement - $30,000 Surety Bond
You should always check with the Kansas Department of Revenue, or requesting agency, for the most current required Kansas Motor Vehicle Dealer bond amount as well as the required bond forms.
How to Get an Auto Dealer Bond in Kansas
Viking Bond Service, Inc. writes Kansas 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 Kansas Motor Vehicle Dealer bond applications and provide competitive quotes for them.
How Does an Auto Dealer Bond Work?
To understand how an auto dealer bond works in Kansas, we first must know who the parties involved are.
- First off, the obligee is the entity who requires the bond, in this case it would be the state of Kansas.
- Next, the principal is the party who needs to be bonded to gain licensure. In this case, this would be your auto dealer business.
- Finally, the surety is who underwrites the Kansas motor vehicle surety bond.
These three parties work together to ensure that there is confidence on all sides of the equation.
Kansas Auto Dealer Bond Prices
Surety bond prices are determined as a percentage of the bond amount and are based on a number of factors. Credit history, the applicant's financial strength and prior bonding history can all be determining factors when calculating surety bond premiums. Viking Bond Service is committed to serving auto businesses in Kansas the surety bonds they need at the lowest possible premium. In addition, we offer those with less-than-perfect credit assistance through our poor credit surety bond program. Kansas vehicle dealer bond quotes typically fall between 1% and 3% of the requested bond amount.
No matter what your surety bond needs are, Viking Bond Service has the expertise to meet your needs. Give us a call at 1-888-278-7389, or complete an online application to get started today!
Request a Motor Vehicle Dealer Bond Quote:
- Call us at 1-888-278-7389.
- OR
- Complete an Online Application.
- OR
- Complete the contact form on the page. One of our agents will contact you shortly.
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