Motor Vehicle Retail Dealer Bonds are required to guarantee that auto dealerships operate per the terms of the state. The South Carolina Retail Auto Dealer Surety Bond requirement is $30,000. These Surety Bonds MUST be purchased PRIOR to receiving a Dealer’s license and MUST be maintained during the life of the dealership. These Surety Bonds are also referred to as a DMV Bonds, Used Car Dealer Bonds, and MVD Bonds. This Bond is required by the South Carolina Department of Motor Vehicles and guarantees dealership’s compliance with all relevant state specific rules and regulations.
South Carolina Wholesale Auto Dealer or Motorcycle Dealer Bond ($15,000)
Motor Vehicle Wholesaler Bonds are required for auto wholesalers and motorcycle dealers to guarantee the wholesaler operates per the terms of the state (see state specific rules and regulations). South Carolina requires’s these Surety Bonds in the amount of $15,000. These Surety Bonds are also referred to as a DMV Bond, used car dealer Bond, and MVD Bond. This Bond is required by the South Carolina Department of Motor Vehicles PRIOR to obtaining the license and MUST be maintained for the duration of the dealer license. Motor Vehicle Wholesalers are NOT allowed to sell cars to the public.