Auto dealer bond cost
The Florida Department of Highway Safety and Motor Vehicles requires both independent and franchise motor vehicle dealers to post $25,000 surety bonds. These bonds are subject to underwriting, which means the price you’ll pay depends on a review of your personal credit report.
Don’t let less-than-stellar credit stop you from purchasing the surety bond you need quickly and easily! Surety Bonds offers an exclusive bad credit bonding program through which we can approve 99% of all applicants.
Why this bond
By posting a Florida MVD surety bond, principals (auto dealers) pledge to comply with the conditions of any written contract made by him/her in connection with the sale or exchange of a motor vehicle. Specifically, the bond holds dealers to the standards set in Chapter 319 and 320 of the Florida Statutes.
If the dealer fails to comply with these terms, he or she pledges to pay any person who suffers damages or financial loss as a result of the dealer’s unlawful business practices up to the full bond amount.
Auto dealer bond details
Motor vehicle dealer bonds in Florida expire annually on April 30, so your bond premium could be prorated depending on when you buy it. Our team of surety experts works hard to get you bonded according to your specific needs.
The surety can cancel the bond by providing the Department of Highway Safety and Motor Vehicles with written notice of its intention to terminate. The notice must be sent by U.S. registered mail and becomes effective 30 days after the department receives it.
Apply for your surety bond
Get a FREE Motor Vehicle Dealer Bond Quote Today! Click here to begin