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South Carolina Motor Vehicle Dealer and Wholesaler Surety Bond

Who needs a South Carolina Motor Vehicle Dealer and Wholesaler Bond?

All licensed vehicle dealers are required to maintain a South Carolina Motor Vehicle Dealer and Wholesaler Bond by the State of South Carolina. The bond is required as part of your dealer license application. This requirement applies to any auto dealer, wholesaler, wholesale auction business, trailer dealer and motorcycle dealer.


Why is the Motor Vehicle Dealer and Wholesaler Surety Bond required?

The South Carolina Motor Vehicle Dealer and Wholesaler Bond helps ensure that dealers conduct business ethically and lawfully.


How do I know this is the required bond for my business?

If you are a wholesale auto auction, travel trailer and/or motorcycle dealer or wholesaler, then you are responsible for obtaining a $15,000 bond. Any other type of dealer or wholesaler is required to maintain a $30,000 bond.

You may have heard this bond referred to as a South Carolina Vehicle Dealer License Surety Bond, South Carolina DMV Bond, Dealer Bond, Dealer License Bond, Car Dealer Bond or Auto Dealer Bond. While people use many names, they refer to the same bond. If you are a Vehicle Dealer in the State of South Carolina, this bond is required to obtain your license.

General Questions
What is a surety bond? 
What is a surety bond?

A surety bond is a three-party agreement among a principal, an obligee, and a surety.

The bond formalizes the principal's obligation to the obligee. The surety guarantees that the principal will fulfill their obligation.