What is a Motor Vehicle Dealer Surety Bond?
A Motor Vehicle Dealer Surety Bond seeks to protect consumers from fraud and other illicit acts by motor vehicle dealers and their employees. They are typically governed by state statutes and guarantees the payment of fees and taxes along with ensuring the proper representation of a motor vehicle dealer’s products.
What is the current market for a Motor Vehicle Dealer Surety Bond?
Motor Vehicle Dealer Surety Bonds are widely written by multiple surety bond markets. The bond amount for the Motor Vehicle Dealer Surety Bond varies dependent on the state requesting the bond. Terms of approval and premium are largely determined by the financial condition of the motor vheicle dealer’s corporate and/or personal net worth and experience. Rates range from 1-2% of the bond amount for qualified applicants and increase for those applicants who do not qualify for our standard program.
How do I apply for an Motor Vehicle Dealer Surety Bond?
- Start by filling out our Motor Vehicle Dealer Surety Bond application
- E-mail or fax the information to firstname.lastname@example.org or (888) 204-8716
Please note that additional underwriting information may be needed depending on bond request, information submitted, and to obtain the lowest possible rate.