Auto Dealer Bond - Texas Auto Dealer License Guide.
Posted: March 29, 2020
Texas Motor Vehicle Dealer Bond Information The Texas Department of Motor Vehicles requires that all Texas auto dealers secure a surety bond in the amount of $50,000 for a 2 year period effective 10/1/2021 and the estinated rate starts from $329 for 2 year peiod based with prefered credit history. This is a licensing requirement in order to engage in vehicle sales in the state...
Used Car Dealer Bond - Requirement for all Auto Dealers.
Posted: June 2, 2019
Used Car Dealer Bonds are typically called an MVD Surety 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...