Auto Dealer Bond Protection

Auto Dealer Bond Protection which are also known as motor vehicle dealer bonds, DMV bonds and used car dealer bonds - protect consumers from fraud and other wrongful actions done by dealerships and their employees.

For example, harmed parties can make a claim on an auto dealer bond protection and gain financial reparation if a dealership

1. misrepresents its merchandise
2. uses unethical business practices to sell vehicles
3. fails to deliver a valid certificate of title
4. does not pay necessary motor vehicle fees
5. does not forward sales tax payments to the state

Auto Dealer Bond Costs

The surety specialists can underwrite Auto Dealer Bond Protection for as little as $250 for qualifying applicants. Having a high credit score is not a prerequisite for purchasing an Auto Dealer Bond Protection accommodates for all clients. Because Lakhani works with so many markets, our specialists can offer premium financing through our distinctive bad credit program.

California Auto Dealer Bond Protection

The California Department of Motor Vehicles oversees the auto dealer licensing process and sets appropriate California surety bond requirements. New and used car dealers are required to provide a $50,000 California Auto Dealer Bond Protection (form OL 25). An alternate $10,000 California auto dealer bond (form OL 25B) is required for motorcycle dealers, motorcycle realtor-lesser, all-terrain vehicle dealers and wholesale-only dealers.

Dealers will submit their California Auto Dealer Bond Protection and other required licensing forms to their local Occupational Licensing Inspections Office.