Auto Dealer Bonds

resizedAuto Dealer Bonds are sometimes also called Used Car Dealer Bonds, DMV Bonds, Motor Vehicle Dealer Bonds, Dealer Surety Bonds and MVD bonds. All these terms refer to the same thing. They are mostly required by your state department of motor vehicles, in other to issue you a dealer license. Depending on the state where your business is located and what kind of dealership or business you plan to operate. You will need to apply for one of these bonds. Most dealers will only need one of the following:

Used Car Dealer Bond

Wholesale Dealer Bond

Motorcycle Dealer Bond

RV Dealer Bond

Both new and used car dealers in most states are required to file a surety bond before they can get their license and open their business. They must also maintain this bond on file as long as they are in business, which means they must renew this bond yearly or according to the renewal terms of the bond. Most surety companies will only provide a one year bond term. Some companies will give you a multi-year term, this is rare since your credit can change from year to year. If the multi-year option is available for you, it is good to take advantage of it. Another great advantage is to call a Surety Bond Broker, because most Surety Bond Brokers work with many surety companies that give them the opportunity of shopping for a bond on your behalf. Here at Surety EZ we make the bond process very easy, we can take your application over the phone, or you can fill out our application below without your social security number, and we will contact you to guarantee your utmost privacy.

This bond, protects consumers against fraud or other wrongful actions by the dealer or its employees. The surety company guarantees that the bond will pay if the dealership is found to be misrepresenting its merchandise, not forwarding sales tax payments to the state or using unethical business practices to sell vehicles, among a list of other offenses.

Unlike insurance, the bond is in place to protect the public from the dealer. If there is a claim placed on your bond, and your are found at fault, the surety company will pay out the claim, however, you will have to pay the surety company back.

We can issue this bond fast an easy all we need is a filled out application and we can get you a free quote right away. How much the bond premium will be depends on the Bond amount, your state required Bond limit. A bond limit of this type could be anywhere from $5,000 – $100,000 depending on your state and your business requirements. The premium rate can be anywhere from 1% – 5% of the bond amount depending on your credit. Payment plans  are available to some if approved. At Surety EZ we can accommodate any type of credit because we have access to many companies and we make the process easy good or bad credit.

Surety EZ has access to the best surety markets available so we can get you bonded quickly, and at the best possible price! Give us a call today!


Application for


Current or expiring quote we are looking to beat:


Name of previous surety company writing to the bond:


Section I: Bond Applied for

Type of Bond

Effective Date

Expiration Date


Type of Company

CORP

LLC

DBA

Partnership

Bond Amount


(Obligee)


Obligee Address


Section II: General Information

Applicant's Name

Spouse Name


SS#

Spouse SS#

Home Phone


Residence Address

City

State

Zip


Status of Residency

Own

Rent

At Current Address Since


Date of Birth

Spouse Date of Birth

Business License Number


Business Name


Business Phone

Business Fax

Business Email


Business Address

City

State

Zip


Date Business BEGAN Under Present Individual or Firm Name

Business Tax ID


Has any company refused to issue bonds for any purpose?

Yes

No

Do you have any liens, claims or judgements against you?

Yes

No


Has applicant ever failed in business?

Yes

No

Has applicant filed bankruptcy in the last 10 years?

Yes

No


If yes, Chapter 7?

Yes

No

Chapter 11?

Yes

No

Chapter 13?

Yes

No


Date Filed for Bankruptcy?


Date of Discharge?


If yes to any, please explain:


Section III: Additional Parties

Name

Spouse Name


SS#

Spouse SS#

Home Phone


Home Address

City

State

Zip


Personal Financials

(if more than one owner, each has to fill out this app)

Statement of assets and liabilities as of


Assets Liabilities
Cash in Bank Notes Payable to Banks
Cash on Hand Notes to Others(excl. of equipment)
Stocks and Bonds Accounts Payable
Accounts Receivable Federal and State Income Tax Due
Notes Receivable All Other Taxes
Inventory Accruals, Payrolls, Etc.
Cash Value Life Insurance    
Equipment Due on Equipment
Real Estate Due on Real Estate
Other Assets Other Liabilities
    Surplus and Undivided Profits
    Capital Stock(if a corporation)
       
Total Assets Total Liabilities

Net Worth


Name of Owners

Name and Title of Officers

% of Ownership


Are you an insurance agent?

Yes

No

Agent License #

Agent State

Completion of this form constitutes permission for Cal Society Insurance Services to obtain customer information which will be used to determine bonding eligibility. This information will be held in the strictest confidence.