All 50 states and the District of Columbia require motor vehicle dealer surety bonding as part of the procedure for getting licensed to sell automobiles. Bonding guarantees compliance with regulations and rules associated with the sale of a motor vehicle protecting the customer rather than the principal (the dealer). To obtain a bond, auto dealers must follow laws set out in their state of business, as bonding is done at the state level, and requirements vary by state.
Why do I Need a Bond?
A bond is required, so that third parties can make claims if they are sold a vehicle that does not have a free and clear title. Bonding is a necessary step in applying for a license, auto dealers must file their bond with their state’s appropriate regulating body, usually the Department of Motor Vehicles. Then, the dealers can receive their license. The vehicle dealer bond can be a confusing part of obtaining a license, which is why Meadowbrook Direct handles the process for clients.
What do Bonds for Dealers Do?
The intention of a bond is to protect customers and each state from motor vehicle dealers who commit fraudulent acts. This bond ensures that the auto dealership follows legislation for dealerships, according to the laws of the particular state in which the dealership does business.
Meadowbrook Direct makes applying for your auto dealer surety bond simple. We can get you exactly the bond you need, faster and for a price lower than the competition. Plus, we can have it processed typically within one business day. Fill out the application now for a quick turn-around.
Please complete the Motor Vehicle Dealer Surety Bond application and hit submit. Our Surety Team will respond to you within one business day. You can contact us at (866) 207-5520 or e-mail us at [email protected] if you have any questions, or are in need of assistance.
If this is the bond you need, download and submit the application below. All applicants will receive a response within one business day. Still not sure what type of bond is right for your business? Contact us at (866) 207-5520 or email our team for assistance.