Dealer Surety Bond in West Virginia: $10,000–$100,000 Requirement
West Virginia requires all licensed dealers to maintain a $10,000–$100,000 surety bond. Here is exactly what you need, what it costs, and what happens when a claim is filed.
Bond Requirement at a Glance
Amount varies by state and dealer license category. Contact your state DMV for the exact requirement.
Who Needs a Surety Bond in West Virginia
Most states require a surety bond as a condition of obtaining and maintaining a dealer license.
- New vehicle dealer
- Used vehicle dealer
- Wholesale dealer
- Motorcycle dealer
How to Get a Bond in West Virginia
Where to get it: Any state-licensed surety company
Use the state DMV-approved bond form. File with your dealer license application.
Annual Premium Cost
0.5%–3% of bond face value per year
Premium is based on your personal credit score. Good credit = lower annual cost.
How Claims Work
Injured buyer files with state DMV or directly with the surety company.
Valid claims are paid up to the bond face value. Dealer must reimburse the surety for any paid claims.
Penalties for Operating Without a Bond
West Virginia-Specific Note
West Virginia-Specific Facts for Dealer Surety Bond
West Virginia Vehicle transfer fees and requirements
In West Virginia, the title transfer fee is $15 and registration costs $51.50 per year. Vehicle sales are subject to 6% consumers sales tax on vehicle purchases. Notarization is required for vehicle bill of sale documents in West Virginia. West Virginia does not require emission testing for private-party vehicle sales.
- Notarized title required for transfer
- Title transfer within 30 days of purchase
- Personal property tax must be current for registration
Official West Virginia bill of sale form
The official West Virginia bill of sale form is DMV-7 (Bill of Sale). BillOfSaleNow generates a document that meets all West Virginia requirements and can be used in place of the official form.
West Virginia sales tax on vehicle purchases
West Virginia has a 6% state sales tax rate. Flat 6% consumers sales tax statewide. Private-party vehicle sales in West Virginia are subject to sales tax. Sales tax applies to private party vehicle purchases. The title transfer fee is $15.
West Virginia bill of sale statistics
BillOfSaleNow has generated 437 bill of sale documents for West Virginia transactions, with 12 generated this month alone. The most popular vehicle type is car.
More West Virginia Vehicle Guides
- Leasing vs Buying in West Virginia
- Mechanic's Lien on Vehicle in West Virginia
- New Resident Vehicle Registration in West Virginia
- Out-of-State Buyer Vehicle in West Virginia
- License Plate Transfer in West Virginia
- Rebuilt Title Cars in West Virginia
Each guide is written specifically for West Virginia laws, agencies, and procedures. Bookmark for future reference.
Frequently Asked Questions
How much is a dealer surety bond in West Virginia?
West Virginia requires a $10,000–$100,000 surety bond for licensed dealers. Amount varies by state and dealer license category. Contact your state DMV for the exact requirement.
Who requires a dealer surety bond in West Virginia?
State DMV or Motor Vehicle Division requires the bond. Most states require a surety bond as a condition of obtaining and maintaining a dealer license.
How much does a dealer surety bond cost annually in West Virginia?
Expect to pay 0.5%–3% of bond face value per year. Premium is based on your personal credit score. Good credit = lower annual cost.
What happens if a West Virginia dealer doesn't have a surety bond?
Dealer license denial, suspension, or revocation. Possible criminal charges for operating without a bond.
How does a surety bond claim work in West Virginia?
Injured buyer files with state DMV or directly with the surety company. Valid claims are paid up to the bond face value. Dealer must reimburse the surety for any paid claims.
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Generate Bill of SaleSource: State DMV Dealer Licensing Division. Verify current bond amounts with your state DMV before purchasing.