Motor Vehicle Dealer Bond in Connecticut

What this bond requires in Connecticut

Connecticut requires every licensed new or used motor vehicle dealer to file a $60,000 surety bond on CT DMV Form K-158, with the Commissioner of Motor Vehicles as obligee, under the authority of CGS § 14-52. The bond covers compliance with state and federal laws and regulations governing the dealer business and indemnifies consumers harmed by dealer violations. Lower bond amounts apply to ancillary licensees: $25,000 for general repairers, recyclers, and low-speed-vehicle dealers, and $15,000 for leasing/rental companies. Online registration-issuing dealers additionally maintain a separate $5,000 Dealer Issuance Bond on file.

Who requires it

The motor vehicle dealer bond is required by the Connecticut Department of Motor Vehicles - Dealers and Repairers Division under Conn. Gen. Stat. § 14-52; § 14-15; § 14-63.

How to file in Connecticut

Applicants apply through the CT DMV Dealers and Repairers program by submitting a license application packet, proof of a compliant place of business, zoning approval, fingerprinting/background checks, applicable fees, and the executed Form K-158 surety bond ($60,000 for dealers). The original signed bond is filed with the CT DMV Dealers and Repairers Division in Wethersfield prior to license issuance.

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FAQ

Common questions

Is a motor vehicle dealer bond required in Connecticut?

Yes. Connecticut requires motor vehicle dealer bonds issued by an admitted surety. The required amount is $60,000.

How much is the bond in Connecticut?

The bond amount is $60,000. Your annual premium is a small percentage of that, based on credit and experience.

Who requires the bond?

The bond is required by the Connecticut Department of Motor Vehicles - Dealers and Repairers Division.

How is the bond filed?

Applicants apply through the CT DMV Dealers and Repairers program by submitting a license application packet, proof of a compliant place of business, zoning approval, fingerprinting/background checks, applicable fees, and the executed Form K-158 surety bond ($60,000 for dealers). The original signed bond is filed with the CT DMV Dealers and Repairers Division in Wethersfield prior to license issuance.

What does the bond cover?

Surety bonds protect the obligee, not the principal. If you fail to meet the obligation the bond guarantees, the surety pays the claim and recovers from you.

Is a surety bond the same as insurance?

No. Insurance protects you. A surety bond protects whoever required the bond. You repay the surety for any claim they pay.