Used Car Dealer Bonds are typically called an MVD Bond, or a Motor Vehicle Surety Bond. Auto dealer surety bond is not an insurance policy, it does not protect the auto dealer from any losses, but it does protect the consumer from any wrong doing or wrong actions by the dealer. Most states require auto dealers to carry a surety bond, which is a guarantee, in an amount and for a period that coincide with the dealer license which vary depending on the State the dealer is doing business in. Auto dealer surety bond ensures that dealer operate according to the state rules and guidelines. All State Bonds, Inc. offers dealer bond programs at excellent rates and with a simplified underwriting process so you can obtain your dealer bond on the same day.
To obtain a used car dealer’s license you must present a used car dealer’s bond when you submit your application to the motor vehicle department in the State that you doing business in. Obtaining a permanent license can take more than 60 days to be issued. All State Bonds, Inc. Understands that starting the process and getting your used car dealer bond quickly is important.
PS; Texas Auto Dealer Bond start from $250/2 years*
PS; We also offer Auto Dealer Garage Liability Insurance that start from $1385/year. Protect your business from any law suits/claims that might arise from running your dealership.
* Prices are based on credit history and the number of years in business. The bond is issued by HCC Surety.
Used Car Dealer Bond Requirements by Different States.
Apply for a used auto dealer bond same day pre-approval with no obligation to buy. All pre-approvals are subject a credit check.