An auto dealer bond is a type of surety bond that regulates the auto sales industry by providing a financial guarantee for customers and stakeholders. These bonds exist to protect buyers, sellers, financial institutions and government agencies in the event that an auto dealer engages in unethical or illegal business practices, but they also benefit dealers by adding credibility to their dealership.
If you are attempting to obtain a motor vehicle dealer’s license to open or operate a dealership, you will likely be required to provide this type of bond as proof of compliance with industry regulations. Depending on your surety company, it may be called a car dealer bond, a motor vehicle dealer bond, a DMV bond or another similar title.
Contact Edge Insurance today to find a bond agent and get a quote on a DMV bond for your auto dealership. We’ll help you secure the bond you need to operate your business and establish your dealership as trustworthy and credible for potential customers.