Florida Dealer Bonds Information

 

Florida DMV Surety Bond - A motor vehicle dealer bond or surety bond in the amount of $25,000 is required to be filed by all motor vehicle dealers as well as by all mobile home dealers in the state of Florida. In addition, for more than four additional lots, mobile home dealers are required to file a $50,000 motor home dealers bond. RV dealers are required to file a $20,000 Department of Motor Vehiclesbond. As a substitute for the motor vehicle dealer bond, an irrevocable letter of credit may be supplied.

 

Florida state minimum bond requirements are in place to protect the state and consumers by ensuring auto dealers operate according to state laws and regulations. Florida's DMV bonds are often referred to as DMV bonds, Used Dealership Bonds, Used Car Dealer Bond, Dealership Bonds, and FL DMV Bond.

 

What to Expect?

When obtaining a surety bond for your dealership expect a payment between $500 and $3,200 depending on your credit worthiness. If you don't have very good credit you might end up having to pay $3,200 for your bond in many places, however, we can help! Call us before you get your bond anywhere else and get a FREE Quote!. Remember, all Florida Dealer bonds expire yearly, on April 31st at which point is required to be renewed, any savings you might qualify for is less you've to pay every year. We here at FloridaGarageInsurance.com specialize in Florida Dealer Bonds, we work with different insurance companies to help you save on your bond. Give us a call and we can quote you FREE of charge!

 

How does it work?

We work with several insurance companies to provide you the most competitive rate in the market allowing you to save! Call us or complete our online quote and we will use this information to shop around on your behave and get the best rate on your dealer bond.

Florida Auto Dealer Requirements

 

A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Florida Motor Vehicle Wholesale Dealer Bond holds you accountable for your business decisions.

 

The Florida Department of Highway Safety and Motor Vehicles regulates