In South Carolina, all used/new vehicle dealers are required to be licensed and bonded. Dealers are required by the South Carolina Department of Motor Vehicles to obtain and file a $30,000 Motor Vehicle Dealer Bond. This is outlined in the South Carolina Code of Laws, Title 56. We have lots of experience helping dealers get the right bond in South Carolina. Just fill out our quick form to get an instant quote. It takes only 3 minutes.
Our rates for the $30,000 South Carolina auto dealer bond starts at $140 for a 1 year bond. This price is mostly based on the applicant’s credit score. Generally speaking, a higher credit score will equate to lower prices. In some cases, a dealer’s previous work experience can result in a discount for bond prices in South Carolina. If you’re committed to your business long term, we also offer multi-year options which cost more up front but cover multiple years and are cheaper on a per year basis.
Yes, there are two other types of bonds related to vehicle sales in the state of South Carolina. They only apply to specialized vehicle dealers and we’ve listed them below:
We offer coverage for all of these bonds. You can select the specific bond you need in the “Specific Bond” dropdown while going through our auto dealer bond flow for South Carolina .
Yes, to get a quote for a South Carolina auto dealer bond, a SSN based credit check will be conducted by relevant insurance companies to get a quote, but it won't affect your credit score. This credit check is a “soft” check and has no negative impact on your credit score.
If you submit your application before 4pm CST, we should be able to get the bond done the same day in most cases. There may be exceptions to the case if there are unexpected complications with your credit score or previous bond claims. Our philosophy is to work hard to earn your business so we’re open 7 days a week.
If you select a 1-year bond term, it will end after 1 year from the start date. To maintain your license, you must renew it before the expiration date. However, we will handle the renewals for you if you bond with us, and we'll also notify you if we discover a better price during the renewal process, so you can focus on your business.
Some insurance companies classify credit scores below 650 as "poor." Nevertheless, being bonded is still feasible. We collaborate with insurance providers that concentrate on offering coverage to this group. If your credit score is not excellent, let us know, and we'll assist you in securing a bond by looking for specialized carriers in our network. Our team has aided many individuals with less than ideal credit in obtaining South Carolina auto dealer bonds.
To prevent bond claims, it is important to follow the state of South Carolina's guidelines. This means operating your auto dealer business honestly and transparently and prioritizing your customers' interests. You should also ensure that you pay all relevant fees and taxes associated with vehicle sales correctly and provide your customers with valid car titles. By doing this, you can reduce the likelihood of bond claims being made against you and your business.
Upon approval of your bond, we will send you a PDF copy via email to serve as proof of your bonding. Additionally, we keep copies of the bond on file in case the original is lost. If you need another copy, simply contact us and we'll be happy to provide one for you.
Several factors affect the price of a South Carolina dealer bond, such as the applicant's dealer experience, insurance provider, and credit score. Typically, the credit score of the applicant has the most significant impact, followed by the insurance company. We collaborate with more than 10 insurance companies to deliver our clients the most attractive prices, regardless of their credit score. In case you locate a better rate elsewhere, inform us, and we will endeavor to match it.
