What is a Used Car Dealer Bond?
A used car dealer bond is the same as a regular auto dealer bond. Be sure to take note that some states do have different bond amounts depending on what type of operation you are running. The bond form will often leave the dollar amount blank so it can be filled in properly at the time of issuance. They are also referred to as a DMV bond, auto dealer bond, and MVD bond. Current Market: Similar to mobile home and auto dealers, a used car dealer will find that unless they have good credit, they will pay considerably higher for their bond premium. Dealer bonds are considered a higher risk than the typical commercial bond. Fortunately, the shear volume of dealer bonds allows for a more aggressive underwriting approach by some of the larger bonding companies. Special Programs: Our programs for dealers include everything from standard markets for clients with good credit to high risk programs for clients with bad credit. We can write in all 50 states and the bonds are issued directly from ou
