Wyoming Vehicle Dealer Bond
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How much does a Wyoming vehicle dealer bond cost?
Wyoming vehicle dealer bond costs start at $250 for the state-required 1-year term. Your exact premium will be provided after a quick application review. Multi-year discounts are also available for qualified applicants who would like to extend their bond term. Apply now to get your free motor vehicle dealer bond quote!
How do you get a Wyoming auto dealer bond?
You can apply for your free Wyoming auto dealer bond quote online 24/7. You'll need to provide the following information for Motor Vehicle Services approval.
- dealer/dealership name
- dealership location address
- dealer license number, if available
You'll receive your official Wyoming auto dealer bond by email once your order has been processed.
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 Wyoming vehicle dealer surety bonds faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are typically processed with same-day emailed motor vehicle dealer bond delivery.
If you have questions about the Wyoming vehicle dealer bond or your application, call 1 (800) 308-4358 to speak with a friendly surety expert. We're here to guide you through the auto dealer bond process to make sure you can get back to running your business.
What is a Wyoming vehicle dealer bond?
Wyoming Legislative Statute 31-16-103 requires individuals file a $25,000 surety bond to get a motor vehicle dealer license in the state. This bond type prohibits dealers from committing fraud, misrepresentation, or violating any other relevant federal or state laws, rules, or regulations when operating their business. The surety bond requirement also specifically obligates licensed dealers to guarantee the return of their dealer license, full use and demo license plates, and temporary permit seals.
Why is a Wyoming car dealer bond required?
By filing a Wyoming vehicle dealer bond, individuals agree to abide by any Wyoming statute that regulates the state's dealer license requirements. If they fail to do so, the issuing surety company will pay valid claims up to the full $25,000 bond amount, which the licensed dealer must then reimburse. The bond protects the state of Wyoming, the Wyoming DOT, and consumers in the state from financial loss if a dealer cannot fulfill their professional obligations as outlined on the bond form.
Please note this surety bond requirement is for the Wyoming vehicle dealer license. If you're trying to register a vehicle with a missing title, a separate Wyoming certificate of title bond is required.
Who needs a Wyoming auto dealer bond?
The Wyoming Department of Transportation Motor Vehicle Services requires vehicle dealers in the state get licensed and bonded if they sell 3 or more cars within a 12 month period. If you have questions about this Wyoming surety bond requirement or the status of your Wyoming vehicle dealer license, you can call the DOT Dealer Licensing at 1 (307) 777-4717 or fill out the contact WYDOT form on their website.
What are the vehicle dealer bond conditions?
The dealer's original signature on the bond form must be acknowledged by an official notary signature and stamp. Vehicle dealer bonds in Wyoming remain in full force from the effective date until the expiration date listed on the surety bond form.
How do I update or change my vehicle dealer surety bond form?
If the Wyoming Department of Transportation requires your bond documentation to be updated for any reason, contact your surety provider. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change.
The most common changes requested for these bonds are the dealership's name or address.
How do you renew your Wyoming auto dealer bond?
You should renew your auto dealer bond before its 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 Wyoming vehicle dealer license term.
How do dealers apply for a motor vehicle dealer license in Wyoming?
Applicants must fill out their application and then complete the following steps.
- Undergo a criminal background investigation, and submit two fingerprint cards.
- Include pictures of the business and signage.
- Provide proof of zoning approval.
- Provide a copy of your lease or rental agreement if you rent your business location.
- Submit a copy of your Articles of Incorporation (LLC, Corporation, or LP).
- Provide IRS documentation of your Federal Employer Identification Number.
- Include a copy of your Wyoming Sales/Use Tax License Number.
- Provide a copy of your franchise agreement (franchise dealers only).
Yearly fees are due upon submission of dealer license applications. Checks should be made payable to the Wyoming Department of Transportation.
- Dealers who sell fewer than 12 vehicles within a 12 month period: $25
- Dealers who sell more than 12 vehicles within a 12 month period: $100
- Vehicle manufacturers: $100
Submit your application, required supporting documentation, and fees to the Wyoming DOT MVS.
WYDOT
ATTN: Motor Vehicle Services
5300 Bishop Blvd.
Cheyenne, Wyoming 82009-3340
The Wyoming Department of Transportation specifically advises new applicants not to purchase their $25,000 Wyoming surety bond until they have been notified by the department that their application has been approved.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
