FAQs

The California DMV has a very specific carve-out in the law for wholesale-only auto dealers. The exception is meant to offer low-volume wholesale dealers the opportunity to get lower-limit auto dealer bonds. Wholesale dealers who sell less than 25 cars or trucks per year [...]

Since the only carve-out in the California DMV law is for motorcycle-only dealers, you will need a $50K auto dealer bond if you are getting a license to sell vehicles directly to the public. Retail truck, trailer, RV, and boat dealers all need a [...]

A bond is required of any dealer that is involved in the sale of motor vehicles such as new, used, wholesale, RV, motorcycle, auction, and other types of vehicles. In most states, dealers are even required to obtain a surety bond as a prerequisite [...]

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You’ll need a dealer bond rider if you have to fix a mistake or change on your motor vehicle dealer bond, for example, if you want to change the name or address when your bond was issued. You can also request a bond rider if you [...]

It is very important for you as a dealer to ​​be aware of the circumstances that can bring a claim against your dealership. The safest way to avoid auto dealer bond claims is to maintain pristine paperwork, be transparent with your customers, and always [...]

You’ll need a separate car dealer bond for each state you want to operate in. Each state has different requirements for licensing and bonding, so you will have to oblige with the respective state regulations and get a separate bond for every state. [...]

An auto dealer bond works as an extra level of protection for car buyers across the U.S. It’s a safe financial mechanism that guarantees you will follow the law in your work as a car dealer. The bond is required by the authorities that [...]

All types of dealers may need an auto dealer surety bond, depending on the licensing requirements of state or local authorities. This means you are likely to need a bond if you fit into any of the following categories of dealers: New car dealers [...]

The cost of your car dealer surety bond is determined by how strong your personal and business finances are. Your personal credit score has the biggest impact on the price. Your surety bond cost is a percentage of the bond amount you’re required to obtain [...]