California Motor Vehicle Lessor Bond
Bond Requirements & Set Rates
| Bond Amount Required | Annual Premium |
| $50,000 | $500 |
Businesses engaged in leasing or renting motor vehicles in California are required to get a surety bond as part of their licensing requirements. Required by the California Department of Motor Vehicles (DMV), the California motor vehicle lessor bond ensures the lessor complies with the California Vehicle Code and properly manages all fees and title transfers.
Cost of a California Motor Vehicle Lessor Bond
The $50,000 California motor vehicle lessor bond is available for $500 with NNA Surety. Renew annually to maintain your license. Get bonded now.
How the California Motor Vehicle Lessor Bond Works
A California motor vehicle lessor bond is a three-party agreement that guarantees lawful and ethical conduct in vehicle leasing:
- Principal: Motor vehicle lessor
- Obligee: California DMV
- Surety: Bonding company
This surety bond ensures you adhere to all applicable California laws governing vehicle leasing, including proper handling of lease agreements, disclosures, and financial transactions. It acts as a safeguard for consumers entering into lease contracts with your business.
If a lessee or other party suffers financial harm due to your violation of regulations or unethical behavior, a claim can be filed against your bond and the surety will investigate the claim.
If valid, the surety may compensate the claimant up to $50,000, and you must then reimburse the surety for any paid claims.
How to Get the California Motor Vehicle Lessor Bond
Getting your California motor vehicle lessor bond is quick and simple:
- Submit this online application.
- Pay the flat $500 premium.
- Receive your bond documentation.
- File the bond with the California DMV to complete your licensing requirements.
Apply for Your California Motor Vehicle Lessor Bond Today
Meet lessor-retailer licensing requirements with the California motor vehicle lessor bond. NNA Surety’s fast application and flat-rate pricing streamline the bonding process. Start now and keep your leasing business moving forward with confidence.