
Auto dealer surety bonds are required to guarantee the dealer operates per the terms of the state (see state specific rules and regulations). They are also referred to as a DMV bond, used car dealer bond, and MVD bond.
There are several sub-categories of Auto Dealer Bonds:
Auto Dealer
Any one in the business of vehicle, motorcycle or ATV sales is require to get and have an Auto Dealer Bond.
Defective Title
In the case that a person is seeking the title to a vehicle which has been lost, stolen or otherwise inaccessible, they must have a Defective/Lost title bond.
Driving Schools
All Driving Schools that train and instruct on driving techniques and regulations must have an Auto Dealer bond.
Registration
Any company that performs any kind or vehicle or vessel registration for the Motor Vehicle Department can only operate with a Registration services bond.
Vehicle Verification
Any company which verifies documentation for the Motor Vehicle Department against the physical inspection, no matter the type of vehicle, can only operate with a Verifier bond.
Current Market: The surety bond industry has become more conservative when reviewing motor vehicle dealer bonds. Lower rates are still available for those who qualify, but those with sub-par credit are being forced into high risk programs.
Special Programs: We offer specialty high risk programs which allow us to write clients that have credit issues with no collateral required. Our bulk volume allows our agency to offer lower rates for high risk applicants than our competition. We also have multiple sureties that have a strong appetite for auto dealers in good standing, allowing us to write them at the lowest possible rates.