Auto Dealer Bonds
What is an Auto Dealer bond?
Auto Dealer bonds, also known as Motor Vehicle Dealer bonds, are required for anyone who sells new or used cars.
How does an Auto Dealer bond work?
Auto Dealer bonds are usually required by the state in order to operate an auto dealership. The purpose of the bond is to protect consumers from fraudulent practices, and ensures that industry regulations are followed by the auto dealer.
How much does an Auto Dealer bond Cost?
The cost of this type of bond varies from each individual and the state in which the bond is required. When applying for this type of bond, the credit history of the owner and spouse of the company plays a big factor in determining the bond premium. Someone with good credit may pay a lesser premium than a person with poor credit. However, just because someone has poor credit, does not mean we cannot help you. At Universal Service Agency, we strive to find out clients the best rates with the strongest rated carriers to insure you are getting the best bond coverage available.
How do I get an Auto Dealer bond?
How to Choose a Bonding Company?
How long does it take to get a Motor Vehicle Dealer bond?
Universal can issue bonds the same day an application is received. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.