Idaho Vehicle and Vessel Dealer Bond
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How much does an Idaho vehicle and vessel dealer bond cost?
Idaho vehicle and vessel dealer bond costs vary depending on the license type required by the Idaho Transportation Department.
- Motorcycle, UTV, ATV, or snowmobile dealers must file a $10,000 bond. Pricing starts at $100 annually.
- Retail motor vehicle dealers must file a $20,000 bond. Pricing starts at $200 annually.
- Wholesale dealers must file a $40,000 bond. Pricing starts at $400 annually.
Your exact annual premium will be provided after a quick application review.
How do you get an Idaho vehicle and vessel dealer bond?
You can apply for your free Idaho motor vehicle dealer bond quote online 24/7. Simply select which dealer license you need and provide the following information for Transportation Department approval.
- dealer/dealership name
- dealership business location address
- dealer license number, if available
Once you've paid your invoice, your official vehicle dealer bond will be shipped to your preferred mailing address.
How fast can I get an auto dealer bond?
Our industry-leading technology and responsive customer service team allow us to offer free quotes and deliver official Idaho auto dealer bonds faster than any other surety provider. The Idaho Transportation Department requires your Idaho auto dealer bond be physically issued and shipped to you, so choose overnight shipping during checkout if you're in a rush. Orders placed by 4 PM CST Monday-Friday are typically shipped same-day.
If you have any questions about the Idaho auto dealer bond or your application, call 1 (800) 308-4358 to speak with one of our friendly surety experts. We're here to guide you through the dealer license bond process so you can get back to running your business.
What is an Idaho vehicle and vessel dealer bond?
Idaho Statutes Title 41 Chapter 16 Section 49-1608 requires individuals file a surety bond as part of the state's dealer licensing process. Form ITD 3170 is officially titled the “Vehicle or Vessel Dealer Bond,” but these bonds are more commonly known as "auto dealer bonds," "motor vehicle dealer bonds," or even just "dealer bonds." These bonds protect consumers from dealers or dealerships in the state who violate auto dealer industry regulations outlined in Idaho code.
Why do you need an Idaho vehicle and vessel dealer bond?
If a dealer or dealership fails to follow state law when operating their business, harmed individuals can file a claim against the bond to recoup financial losses. Idaho Statutes Title 41 Chapter 16 Section 49-1613 outlines the following prohibited acts for dealers, among others.
- using misleading advertising
- knowingly purchasing or selling a stolen vehicle
- engaging in business without displaying a valid license
- knowingly purchasing or selling a vehicle that has been altered or has a removed vehicle identification number
- displaying for sale a vehicle that doesn't have a title
The surety company will pay valid claims up to the full bond amount, which the bonded dealer must then reimburse.
Idaho auto dealer bonds are required to become a licensed dealer in the state. If you're trying to register a vehicle with a missing title, you need a separate Idaho vehicle ownership title bond.
Who regulates vehicle dealer licensing?
The Idaho Transportation Department Division of Motor Vehicles enforces motor vehicle dealer license requirements in the state.
What are the different types of Idaho auto dealer licenses?
Idaho Statutes Title 49 Chapter 16 Section 49-1634 requires individuals who sold at least 5 vehicles in the previous year to be legally licensed and bonded. The Transportation Department requires the following bond amounts for the state's 6 dealer license types.
- Motorcycle Dealer: $10,000
- All-Terrain Vehicle (ATV) Dealer: $10,000
- Utility Terrain Vehicle (UTV) Dealer: $10,000
- Snowmobile Dealer: $10,000
- Retail Motor Vehicle Dealer: $20,000
- Wholesale-Only Motor Vehicle Dealer: $40,000
How do I update my vehicle dealer bond form?
If the Idaho Transportation Department requires your surety bond documentation to be updated for any reason, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes for these bonds include updating the dealer or dealership's name or address.
How do I renew my auto dealer bond?
Your Idaho auto dealer bond must be renewed whenever the current 1-year term expires. Once you pay your SuretyBonds.com renewal invoice, renewal instructions will be emailed to you to keep your bond active for your next license term.
How do I become a vehicle or vessel dealer in Idaho?
To get your Idaho motor vehicle dealer license, you must complete the following steps.
- Attend an 8-hour licensing course and pass a closed-book exam (used-only or wholesale dealers).
- Submit a completed and notarized Application for Vehicle or Vessel Dealership License. You must also submit a copy of the business's status for any business that is considered a corporation, LLC, LP, or LLP and verification of a name filing from the Secretary of State's office.
- Submit a certificate of liability insurance of no less than $25,000 for bodily injury or death for one person or $50,000 for two people, and $15,000 for injury or destruction of property.
- Submit the Employer Identification Number (EIN).
- Submit a vehicle and vessel surety bond.
- Pay the application fees. The application for new or used dealerships is $190, while the application ICAR (retail) fee is $300. A supplemental lot or change in location will result in separate $44 fees.
Mail your application, documents, and fees to:
Dealer Services, Idaho Transportation Department
P.O. Box 34
Boise ID 83731-0034
After the application has been processed, an investigator assigned by the Dealer Licensing Unit will evaluate the dealership property. If the dealer passes the investigation, a 90-day temporary license will be sent. A permanent dealer license will be issued after the 90-day follow-up audit is approved by the investigator.
For more information, consult the Dealer Handbook: Dealer Requirements and Plate Guide.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
