As outlined in the Oregon Vehicle code, section 822.045, both used and new car dealers in Oregon are required to be licensed with the Oregon Department of Transportation. As part of the licensing process, dealers must obtain a $50,000 Motor Vehicle Dealer Bond. We've helped hundreds of dealers get licensed and bonded in Oregon. Get started below to get a quote in minutes.
At SuretyNow, we offer competitive rates on Oregon auto dealer bonds, starting at $300 for a 1-year $50,000 bond. The price is based on an applicant’s credit score and work experience. Those with average credit score may be quoted at a rate that is higher than the listed starting price. We work with 10 different insurance carriers to provide our customers with the most affordable rates possible.
There are two other type of auto dealer bonds in Oregon for specialized dealers:
Before issuing Oregon dealer bonds, insurance companies typically conduct what's known as a "soft credit check." This type of credit inquiry is used to determine an applicant's eligibility and pricing, but it doesn't impact their credit score in any way.
A credit score below 650 is generally considered “poor”. However, this doesn’t mean bonding is not possible. We work with insurance companies that specialize in providing coverage to individuals in this segment. If your credit score is less than ideal, simply reach out to us, and we will help you find the most affordable insurance quote by shopping around on your behalf.
Upon approval of your dealer bond application, we will email you with a PDF of the bond as proof that you are bonded.
The cost of an Oregon dealer bond depends on several factors, such as the applicant's credit score, dealer experience, and insurance provider. However, the credit score is often the most important factor, followed by the insurance company providing the bond. To provide our clients with the best rates possible, we partner with over 10 insurance companies that we know provide the best pricing. If you find a better rate elsewhere, let us know, and we'll try to match it.