Dealer Bonds

The applicant must be approved by a surety bond company. The bonding company is making a promise to the obligee (the DMV in this case) that the dealer will follow applicable states and federal regulations and pay all their bills. You can apply for [...]

This is the #1 most common question we receive even though it's actually a DMV pre-licensing test question. The answer is a little complicated but hopefully, this makes sense. There is a carve-out in the law that allows a $10,000 bond for motorcycle-only retail dealers. [...]

The most common reason we see for a high-priced bond is the dealer not having established credit. In this scenario, no credit is basically the same as bad credit. There are a few reasons why folks don't have established credit when they are getting their [...]

Your Auto Dealer Bond should be active by the time you plan to see your DMV inspector to get licensed. For instance, if you place to the see the inspector on the 3rd Thursday of the month, your bond should be active on that [...]

The DMV inspectors workloads can vary quite a bit and on occasion. It's usually as simple as that. The inspector will get through more work than they originally had scheduled and have some extra time. Why? Potential dealers often times submit incomplete packages that [...]

Again, keep in mind the point of view of the Board of Equalization and the Department of Motor Vehicles. They both need to wet their beaks or they will eventually be banging on your door wondering how you could really be a business if [...]

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 [...]

Just apply online today with YCDB for a free quote. You will receive it in less than 8 business hours.

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 [...]