Under 625 ILCS, Title 5, Chapter 3, Section 816, you will be required to post an Illinois Motor Vehicle Second Installment Bond to ensure that taxes are collected properly. Please refer to the Office of the Illinois Secretary of State for more information regarding your required bond amount.Novus Bonds offers an Illinois Motor Vehicle Second Installment Bond with a 99% approval rate for amounts up to $6,000. For any amount over this, you will be required to provide a signed application, business and personal financial statements, and possess a clean credit report to get approved for an Illinois Motor Vehicle Second Installment Bond.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Illinois Motor Vehicle Second Installment Bond holds you accountable for your business decisions. By possessing an Illinois Motor Vehicle Second Installment Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.
Get Your Bond Price Within 1 Hour!
Most License and Permit Bonds have 1 hour responses during business hours:
1. This application is all that’s needed to get you a price within 1 hour.
2. Occasionally, more information is needed. If so, you’ll be contacted within 24 hours.
3. If you have credit issues, approvals might need additional time.
4. We never require an application fee. All quotes are always 100% free.
Your lowest bond price is calculated from the information you provide on the application. Keep your cost low by filling out this application completely.
Bond approvals, like loans, are based upon several factors: personal credit and financial strength of the owner(s), liens or judgments, bankruptcies, length of time in business, bond amount and type of bond. The more information you provide the better chance you have of getting the lowest available price and a faster approval.
Complete our fast and easy online application by clicking the link below. Most will receive a free quote within 1 hour.