A Colorado Motor Vehicle Salesperson bond covers any individual or business planning to file or renew a license to sell motor vehicles or powersport vehicles in the state of Colorado. All relevant laws and regulations are covered in Title 12, Article 6, Parts 1 and 6 of the Colorado Revised Statutes.
This bond acts as a measure of financial protection for your customers in the event of any fraud or misrepresentation that may take place during the course of a transaction. In the event that you are found to have violated any laws, regulations, or provisions outlined by your bond, your surety will issue payment for any damages, at which point you will be obligated to repay the full amount to your surety.
Any individual or business renewing or obtaining one of the following licenses is required by the state of Colorado:
- Motor Vehicle Salesperson
- Motor Vehicle and Powersports Vehicle Salesperson
- Powersports Vehicle Salesperson
If you are applying or renewing any of the aforementioned licenses, you are required to carry a Motor Vehicle Salesperson Bond as well.
A Colorado Motor Vehicle Salesperson Bond does not require underwriting, meaning that it is issued at a flat rate of $100/year ($90 premium + $10 fee).
You can apply now by filling out our simple application.
If you would prefer, you can download the PDF version of the application and email it to firstname.lastname@example.org or fax your completed document to (949)-361-9926. If you choose to email or fax your application, please submit a payment form as well. Once we receive your application and payment, we will file your bond.
A Motor Vehicle Salesperson Surety Bond is issued in the state of Colorado as a protective measure for individuals doing business with said salesperson. The bond is a guarantee that the licensed salesperson will comply with Article 12, Article 6 parts 1+5 of the Colorado Revised Statutes. In the event that the salesperson violates this guarantee, consumers are protected against any financial losses due to the violation by way of fraud or misrepresentation.
This bond is required for anyone applying for the following licenses:
The bond amount is set at $15,000, but luckily you are only required to pay a premium. There is no required underwriting for this bond, meaning that South Coast Surety issues them for a cost of $100/year. Your bond is continuous until you cancel it, and will not have an effective or expiration date listed. You must carry this bond for the entire time you have an active license from the list above.
The obligee for your Colorado Motor Vehicle Salesperson Bond is:
Colorado Department of Revenue
Visit their site here
Bonds are issued in the order that we receive them, but after you submit your application and payment, you can expect your bond to be issued within 1-3 days. If you have any questions about your application while you are completing it, don't hesitate to contact a South Coast Surety agent in order to get your application submitted and processed without delay.
In the event of a claim against your bond, your surety will compensate the damaged party, at which point you will be obligated to repay your surety the full amount, as well as any associated fees. In addition, your surety may revoke your bond. If your bond is revoked, you will be unable to continue operating under your license until you are able to obtain a new bond. It is important that you understand the terms of your bond, as well as all laws and regulations pertaining to the sales of motor vehicles and power sports, to avoid any issues that may result in interruptions to your business activities. Be sure that all employees operating under this license understand and agree to comply with these laws and regulations as well, because you are liable for any fraudulent activities or bond violations that occur under the bond.
A history of revoked surety bonds will cause issues for any future applications, so in addition to problems with your current licensure, violations will follow you in the future. Again, avoiding claims is absolutely imperative if you want to continue operation normally. If you have a claim filed against your bond at any point, contact your surety bond agent immediately to begin working on a solution that will avoid any long-term issues.
I have processed 2 defective title bonds through South Coast Surety and I am the type that gets worried for any little detail and want to make sure everything is done correctly the first time to prevent double work for myself and everybody. Knowing how I am both times I had to call customer service and they answered every little question I had in a very nice and gratifying way that made me feel I would not have any problems in which I did not. South Coast Surety has the ultimate best customer service.
Gaby - CA
I was shopping for a surety bond for the first time and having trouble communicating with several different companies. When I contacted South Coast Surety they responded quickly and performed the transaction quick and easy. I might have been able to find a lower price, but their professionalism was worth a couple extra dollars.
KG C. - CA
We are opening up a Mental Health Residential Treatment Center and needed a Surety bond since we will be handling some clients cash resources. I reached out to South Coast Surety, they sent me an application, paid our premium and had our bond sent to us immediately. Everyone I spoke to and emailed was courteous, attentive and responded very quickly. We will most definitely continue to get all of our bond services from South Coast.
John F. - CA
Great customer service from South Coast Surety. When I had questions about the bond and process, their customer service team assisted me with a sense of urgency and answered my questions. I recommend using their services. I will be a returning customer.
P&C B. - CA
I needed a surety bond and was referred by another company to south coast. I am very impressed with the level of customer service in every stage of issuing the bond, the rapid response to the get the bond issued and communication with the team. Great team and awesome service. I highly recommend South Coast Surety for you bond needs.
Mirwais A. - CA
I was in need of obtaining my CA Insurance Bond. I was able to obtain my required Bond quote online within minutes. I approved the quote and requested the Bond to be issued. On the same day, I received the Evidence of Coverage. Could not ask for better pricing or better service. I highly recommend South Coast Surety to meet a wide range of Bonding needs.
Udo G. - NJ
South Coast Surety has been proudly providing surety support to all fifty U.S. states for twenty years. Starting out as a small agency with a dream in San Clemente, California, we have steadily grown into one of the largest bond-only agencies in the nation. We write all commercial bonds and contract bonds for every American business and industry. Our greatest achievement is helping our clients grow their business alongside our own through coaching and obtaining larger bonding limits at the best rates. We work hard for our clients and take pride in bonding businesses that have been declined by our competitors.