National Independent Automobile Dealers Association
Serving Quality Independent Automobile Dealers Since 1946

Dealer Bond And Licensing Information » Virginia

Bonds

Original licensees are required to furnish $25,000 bond for the first three years in business. Bond required until dealership has three consecutive years without a claim against the bond or fund.

Dealer License

Certification of Qualification required: each new dealer-operator and salesperson must pass written examination ($25.00 fee). If applicant is a dealer in new vehicles with factory warranties, a copy of service agreement with manufacturer or distributor is required. The dealer sales office must be inspected by a DMV investi­gator prior to issuance. Each dealer is assigned a permanent dealer code with up to five digits. Licenses are staggered, fees are prorated, each plate must be insured and all licenses expire on the last day of the designated month. Preprinted re­newal forms are mailed to licensed dealers for renewal purposes.

Dealer License Fee:

$100.00 upon application and renewal of dealer li­cense
$10.00 for each salesman license

Additional fee for Recovery Fund

New dealership must pay $250.00 for three consecutive years without a bond or fund claim being filed.

Annual fee:

$100.00
$10.00 renewal for each salesperson.

Multi-year licensing is optional.

Fee: $200.00 for dealership
$20.00 each sales person

Contact the Virginia Independent Automobile Dealers Association for additional information.