Motor Vehicle 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 bond, used car dealer bond. An auto dealer is required by the State Motor Vehicle Departments to obtain a dealership license in the state in which your dealership is located.
What is an Auto Dealer Bond?
All State Bonds is located in Houston Texas, but we service and issue dealer bonds for over 30 States from the State of Texas, to California auto dealer bond, Florida auto dealer bond, Arkansas car dealer bond, Oklahoma auto dealer bond, auto dealer bond Louisiana, New Mexico, Georgia dealer bond, Tennessee auto dealer bond, Alabama Dealer bond and many other States.
How Much Does an Auto Dealer Surety Bond Cost?
Texas Dealer Bond for $25K Start from $200/2 year Apply Now*
California Dealer Bond for $50K Start from $500 Apply Now*
Florida Dealer Bond for $25K start from $250 Apply Now*
Louisiana Dealer Bond for $50K start form $250 Apply Now*
Oklahoma Dealer Bond for $25K start form $250Apply Now*
How Much will Texas Auto Dealer Bond Cost?
The Texas Department of Motor Vehicles requires that all Texas auto dealers secure a surety bond in the amount of $25,000. This is a licensing requirement in order to engage in vehicle sales in the state of Texas (see more information on Texas license requirements). A surety bond is required for all GDN categories of a motor vehicle, motorcycle, wholesale only, wholesale motor vehicle auction and independent mobility motor vehicle, but a surety bond is not required of franchised dealers, travel trailer dealers, or trailer/semitrailer dealers. The cost varies based on the applicant’s credit history and the rate can start from around 1% and up from the bond amount needed for a two year period. As required by the state of Texas, these auto dealer surety bonds are issued for a two-year term, expire on the last day of the month. All-State Surety Bonds is a licensed bonding agency in Texas and offers exceptional rates for Texas Motor Vehicle Dealer Bonds.
For more information or to apply visit www.allstatesuretybonds.com