South Carolina wholesale auction bonds.
$150 flat.
South Carolina requires every wholesale motor vehicle auction to file a $15,000 surety bond with the SCDMV under S.C. Code §56-15-570. Ours is $150 flat — set by our carrier's rate book for this bond, identical for every applicant. One soft credit pull; the bond is issued when you pay.
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How much does a South Carolina wholesale auction bond cost?
$150 at the $15,000 amount, the same for every applicant.
Three steps to licensed.
Your wholesale auction license is waiting on this bond. Here's the entire process — no broker phone tag:
Apply once, online
Business details, owner information, effective date. That is the application — the only extra step is a one-time consent to a soft credit pull.
Approved
Most are approved as soon as you apply. One soft credit pull, never a hard inquiry, and it never affects your score. If it needs a second look, one to two business days at most.
E-sign & file with the SCDMV
Pay online and receive the executed bond on the SCDMV-prescribed form, ready to file with your wholesale auction license application. Wet-ink originals mailed whenever the state insists.
What it is and who needs it.
What the bond actually guarantees
South Carolina licenses wholesale motor vehicle auctions through the Department of Motor Vehicles, and S.C. Code §56-15-570 conditions the license on a $15,000 surety bond. The bond is a consumer-and-public-protection guarantee: it stands behind your honest dealing in the sale and transfer of vehicles that move through the auction.
It is a three-party arrangement: you (the principal), the surety carrier standing behind you, and the SCDMV together with harmed vehicle owners (the protected parties). The statute gives an owner who suffers loss from fraud or fraudulent representation by the licensee a direct right of action against the auction and its surety on the bond.
It is not insurance for you — if the surety pays a valid claim, you repay the surety. Auctions that deal honestly and keep clean records treat the bond as a license formality, not a risk.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the $15,000 bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose; a longer term is the same price per year, chosen at checkout.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
E-sign & file with the SCDMV. Pay online and receive the executed bond on the SCDMV-prescribed form, ready to file with your wholesale auction license application. Wet-ink originals mailed whenever the state insists.
What sets the price
The premium is fixed at $150 at the $15,000 amount for every applicant: the carrier’s rate book prices this bond by the form, not by your credit or your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual underwriting fields, including a one-time consent to a soft credit pull. Submit once and your bond is issued when you pay.
Start the application →Common questions.
Other South Carolina bonds.
Been told you need a different amount?
Price and requirements checked on the carrier’s application, . Page updated .
The SCDMV is waiting on one document.
$150 flat, short application, bond issued when you pay. Free until issued.