Who requires it
Pennsylvania Department of Banking and Securities
License & permit · Pennsylvania
Pennsylvania Motor Vehicle Sales Finance Bond
Sales finance companies and collector-repossessors licensed under Pennsylvania’s Motor Vehicle Sales Finance Act must file a Department of Banking and Securities surety bond with each license application. Amounts are fixed: $10,000 for a sales finance company and $5,000 for a collector-repossessor, generally for each place of business.
Common bond amount
$10,000 / $5,000
Sales finance company $10,000; collector-repossessor $5,000—per place of business under Title 12.
How you file
File the department form through the DoBS Portal
Renewal
File with license application/renewal; keep active per location
Who requires it
Applicants for sales finance company or collector-repossessor licenses under Title 12 Chapter 62 who finance motor vehicle installment sales or, as independent contractors, collect on those contracts or repossess the vehicles. This is not the PennDOT Form MV-375 dealer/agent bond and not a general third-party collection-agency license.
How much is required
12 Pa.C.S. § 6213 establishes $10,000 for a sales finance company bond and $5,000 for a collector-repossessor bond on the department’s form. Related chapter provisions require a bond for each place of business conducted in the Commonwealth.
How to get and file it
Obtain a surety authorized in Pennsylvania (or, for a sales finance company that is a Commonwealth financial institution, follow the statute’s self-execution option when it applies). Use the department-prescribed bond form, match each licensed location, and upload or submit the bond through the DoBS Portal with the license application. A bond accompanies each license application for these categories. Keep coverage in force for every place of business while the license remains active, and replace the bond on the department’s renewal schedule before it lapses.
Cost note
$10,000 and $5,000 are the required bond amount, not the premium you pay. See bond amount vs premium. Bond amount vs premium →
Requirement checklist
- Sales finance company
- $10,000 surety on the department form
- Collector-repossessor
- $5,000 surety on the department form
- Locations
- Bond coverage for each place of business conducted in Pennsylvania
Related resources
Frequently asked questions
Is this the same as a PennDOT dealer bond?
No. Dealer, agent, messenger, and salvor designations use PennDOT Form MV-375. Sales finance and collector-repossessor licenses use this Title 12 DoBS bond instead.
Is every debt collector a collector-repossessor?
No. Collector-repossessor is a defined Motor Vehicle Sales Finance Act license for installment-sale collection and repossession work. It is not a catch-all statewide collection-agency credential.
Related Pennsylvania bond guides
Motor Vehicle Dealer / Agent Bond
$3,000–$50,000 by designation
PennDOT’s Bureau of Motor Vehicles uses one Form MV-375 for manufacturers and dealers, full issuing agents, card agents, messenger services, and salvors. The amount depends on the designation you check on the form and, for most types, on each place of business or branch the instructions list. The bond stays in force while you are authorized.
Mortgage Licensing Act Bond
$25,000–$500,000 by license type
Mortgage brokers, lenders, servicers, and certain mortgage originators licensed under Pennsylvania’s Mortgage Licensing Act must maintain surety bonds in forms acceptable to the Department of Banking and Securities. Amounts follow license type and, for several categories, Pennsylvania dwelling/residential mortgage volume.
Surety basics (not repeated here)
Universal surety concepts explained once—linked here instead of repeated on every state or bond page.
Continue with a Pennsylvania application
Pennsylvania will be preselected. Choose your bond type in the application—we confirm the correct product against your agency form before anything is issued.
Last verified 2026-08-11. This guide is based on verified educational content and official sources.
Agents Ready to Help
Share your agency checklist or bond form and we will confirm the agency, amount, and filing steps before issuing.
Talk to the pro →