What Changed for Oregon Motor Vehicle Dealers?
In order to apply and obtain a Motor Vehicle Dealer certification in Oregon, the bond amount required to do so has increased from $40,000 to $50,000. This bond amount change will go into effect on 01/01/2018.
Also, the bond amount required of dealers who have motorcycle/moped, snowmobile and Class I all-terrain vehicle certifications has increased from $2,000 to $10,000.
New applicants for motorcycle/mopeds, snowmobiles and Class I all-terrain vehicles will no longer be able to obtain the specific certification that corresponds to these vehicles. As a result, new applicants will have to obtain a generic motor vehicle dealer certification. Dealers who are already certified will not be affected by this new generic application requirement.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
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If you’re ready to get a surety bond for this newly increased bond requirement, you can simply apply online.
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