Auto Dealer Bonds from Manav Pietro's blog

This info-graphic titled ‘Auto Dealer Bonds’ provides us an overview of surety bonds required for auto industry. Many Americans rely on their automobiles for just about every aspect of routine life. So it’s incredibly all-important that the vehicles which take parents to work and kids to school be sold-out and serviced by licensed, accountable business people.

Auto Dealer Bondsare a common requirement for many kinds of businesses that deal with motor vehicles sales and service. These bonds help defend the customer and driver while keeping auto industry businesses accountable. Businesses including new and used motor vehicle dealers, brokers, wholesalers, and auto parts dealers may have to buy in any of the different types of surety bonds before they can acquire a license from state or local authorities.

Each state requires different terms and bond amounts for an auto dealer surety, and many states also necessitate slightly different bond types for various types of auto franchises. Used vehicle dealerships, new vehicle dealerships, salvage dealerships, and auto auctions all typically fall into antithetic classes. A business buying an auto dealer surety bond should be sure to check the particular bond requirements for their business category. For more information, please refer to the info-graphic below.