What is an Auto Dealer Surety Bond and Dealer Bond Cost?
Posted: January 30, 2022
What Is An Auto Dealer Surety Bond? Auto Dealer bond does not protect the car dealer from lawsuits, but it protects the consumer from fraud or misrepresentation by the auto dealer. Auto Dealer Bonds guarantee compliance with state laws and every state sets its own bond amount, period and expiration date. Auto Dealers are required to obtain a motor vehicle surety bond which is also known as DMV...
How Much Does an Auto Dealer Bond Cost?
Posted: November 26, 2021
Auto dealer bond is like any other surety bond is required by the state entity so a dealer to get his dealer's license. Rates vary among 3 factors so the dealer can get the best rate possible. Factor #1 is the Bond amount needed or required by the State Entity Factor # 2 is the applicant credit history Factor #3 is the applicant previous claims...