Mississippi Motor Vehicle Dealer Bond

To open a dealership in Mississippi, you need a motor vehicle dealer bond. The amount depends on your sales volume. You file it with the Mississippi Motor Vehicle Commission. It is a standard license step.

Bond Amount
$15,000–$25,000 (by dealer type)
Typical Premium
$150–$1,250/yr
Term
Continuous
Required By
MS Motor Vehicle Commission / Department of Revenue
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What Is the Mississippi Motor Vehicle Dealer Bond?

A Mississippi 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 repay the surety.

Here is what Mississippi requires:

New-car dealers use the Motor Vehicle Commission ($25,000); used dealers use the Department of Revenue ($15,000).

Who Needs This Bond in Mississippi?

How to Get Bonded — Step by Step

  1. Apply for your dealer license.
  2. Buy your motor vehicle dealer bond here. Most quotes come back fast.
  3. File the bond to the Mississippi Motor Vehicle Commission.
  4. Once approved, get your license and start selling.

Renewal & Continuous Bond Coverage

This Mississippi bond is continuous — it stays in force until canceled. Keep it active so your dealer license stays valid.

Frequently Asked Questions

Does Mississippi have two dealer agencies?

Yes. New-car dealers use the Motor Vehicle Commission ($25,000); used dealers use the Department of Revenue ($15,000).

Does the Mississippi bond protect me?

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

How fast can I get bonded in Mississippi?

We shop several sureties for you, 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 Mississippi 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.