Minnesota Motor Vehicle Dealer Bond

Before Minnesota licenses you as a car dealer, you post a $50,000 motor vehicle dealer bond. File it with the Minnesota DVS. It is a standard license step.

Bond Amount
$50,000
Typical Premium
$500–$2,500/yr
Term
1 Year
Required By
Minnesota Dept. of Public Safety, Driver and Vehicle Services (DVS)
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What Is the Minnesota Motor Vehicle Dealer Bond?

A Minnesota motor vehicle dealer bond is a money guarantee. It protects your buyers, not you. If a customer is wronged, they can claim against it. The surety pays them, then you pay the surety back.

How much bond you need in Minnesota:

Starting in 2026, owners and officers must pass a fingerprint background check.

Who Needs This Bond in Minnesota?

How to Get Bonded — Step by Step

  1. Get a quote on this page. We match you with a strong surety.
  2. Finish your Minnesota license paperwork.
  3. File the bond with the Minnesota DVS.
  4. Receive your license and open for business.

Renewal & Continuous Bond Coverage

Minnesota dealer licenses renew every year. Keep your bond active the whole time. Renew early so you do not lose your license.

Frequently Asked Questions

What changed for Minnesota dealers in 2026?

As of 2026, owners and officers must pass a fingerprint background check to get licensed.

Does the Minnesota bond protect me?

No. The bond protects your customers and the state, not you. If a claim is paid, you pay the surety back. The bond is not your own insurance.

How fast can I get bonded in Minnesota?

Most quotes come back fast, often within a day. Many bonds are issued the same day for good credit.

How much does the bond cost?

You pay a yearly premium — a small percent of the bond amount. Your rate depends mostly on your credit.

How a Surety Bond Works

A dealer bond is a type of surety bond. The picture below shows the three parties and what happens if someone files a claim.

Diagram of how a surety bond works: the obligee requires the bond, the principal applies and signs an indemnity agreement, and the surety issues the bond; if the principal fails, the obligee files a claim, the surety investigates and may pay, and the principal reimburses the surety.

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Related: All Minnesota surety bonds · What is a surety bond? · How surety bond costs are calculated

Underwriting Disclosure. All surety bond applications are subject to underwriting review and approval by the issuing surety company. Quoted premiums are estimates only; final pricing is determined by individual underwriting factors, which may include personal and business credit history, financial statements, industry experience, and claims history. Many bonds qualify for instant online approval, while others may require additional documentation, financial review, or indemnitor signatures prior to issuance. SuretyBondly makes no representation, warranty, or guarantee of approval, eligibility, premium amount, bond form, or issuance timing. Bond amounts, forms, and requirements are governed by the applicable obligee and statutory authority and may change without notice. Information provided on this page is for general informational purposes only and does not constitute legal, financial, or tax advice.