Q & A
What does a dealer bond do for me? It fulfills the state dealer licensing requirement.
Is my dealer bond rate really determined by my personal credit? Yes. The bond companies believe the better someone's personal credit the less likely they are to be required to pay a claim on the dealer's behalf.
Can I use a co-signer? Yes. Co-signers / Guarantors reduce the bond companies risk and therefore reduce the premium.
How long does it take to receive my auto dealer bond? In most cases dealer surety bonds are issued a day to two days after receipt of the required documentation.
Will the state accept an emailed / faxed copy of my dealer bond? Your state almost positively will not accept anything other than the original surety bond. A copy can be emailed / faxed to the dealer the day it is issued for the dealer's records.
Is my auto dealer bond insurance? No. With insurance you pay a premium and if there is a claim the insurance pays the amount over the deductible. Bonds are to protect the public. If a dealer were to become insolvent or fail to deliver a title to a customer the customer could claim against the bond.
What if there is a claim against a car dealer bond? The surety (bond) company can go to the bonded person / company for re-payment of any losses and / or cancel the bond.
We can help with your dealer bond regardless of your credit, citizenship or lack of experience in the car business.
Dealer bonds go by many names. Here's a few: dealer bond, used car dealer bond, car dealer bond, auto dealer bond, MVD bond, DMV bond, wholesaler bond, auto dealer bond, RV dealer bond, Motorcycle dealer bond, powersports dealer bond, sub-prime dealer bond, good credit dealer bond and bad credit dealer bond.
©2018 - Motor Dealer Insurance Services site map