Pennsylvania — Sales Finance Company Bond
Pennsylvania requires a $10,000 bond with a Sales Finance Company license application under its motor-vehicle sales-finance law. Use the Department's prescribed form and DoBS Portal licensing process, not the separate Consumer Discount Company bond.
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- Recorded state
- Pennsylvania
- Bond type
- Consumer Finance / Lender Bond
- Category
- Financial services
What this bond does
Provide the company security required by Section 6213 for motor-vehicle sales financing, while completing the separate application for authority to conduct that business.
- Who needs it
- Companies extending consumer credit with installment sales of motor vehicles and arranging the Sales Finance Company license bond.
- Who it protects
- Section 6213 runs the bond to the Commonwealth for its use and persons aggrieved by licensee misconduct. The condition covers Chapter 62 and departmental rules, and money due under that chapter to the Commonwealth, Department or persons—not insurance against the company's customer defaults.
Your bond option
This is the option on record for this bond.
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The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.
Sources
- Pennsylvania DoBS: Non-Bank Licensees (opens in a new tab)Checked October 27, 2026
- Pennsylvania Title12: Section6213—Bond (opens in a new tab)Checked October 27, 2026
- Pennsylvania DoBS: Sales Finance Company Bond (opens in a new tab)Checked October 27, 2026
Have these ready
- Confirm motor-vehicle Sales Finance Company authority, not Consumer Discount Company or collector-repossessor licensing.
- Obtain the Department's current prescribed form for the actual applicant type.
- Match the legal company, licensing record, $10,000 requirement, effective date and execution instructions.
- Complete the DoBS Portal application and accepted bond filing separately from the purchase.
Questions about this bond
Is this the $5,000 Consumer Discount Company bond?
No. Section 6213 specifies $10,000 for a Sales Finance Company. Consumer Discount Companies and collector-repossessors are different obligations.
Should every applicant use the Pennsylvania financial-institution form?
No. The statute's self-execution exception is for a financial institution within Pennsylvania. Other applicants normally need the prescribed bond executed by an authorized surety.
Does any customer loss permit an immediate bond action?
No. Section 6213 requires misconduct, a judgment, execution and the Department's assent for the private action it describes. The bond is not general customer-default insurance.
Does this license use the same NMLS process as mortgages?
The current Department programme directs motor-vehicle finance applicants to the DoBS Portal. Follow the instructions for this license rather than importing a mortgage-license filing route.