We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:
Becoming a licensed auto dealer in Illinois has multiple requirements. A surety bond falls under that umbrella, this bond is a contract that ensures the public that they will not be a victim of any illegal business done by the licensed motor vehicle dealer. Any consumer who is illegally harmed by a dealership can file a claim against this bond.
The state law of Illinois decides who is required to have a surety bond the law states any auto dealer or any person that sells motor vehicles, trailers, or motorcycles must post a motor vehicle dealer bond. Bonding Solutions has provided businesses with surety bonds for over 20 years. Contact us now to get your bond. 8778416745
Illinois Motor Vehicle Dealer Bond has a mandate from the state that requires the bond to be posted at $50,000, ensuring that the dealer is abiding by applicable state laws and statutes. Similar to other surety bonds, you do not pay the full bond amount. Dealers are only required to pay a certain percentage of the $50,000 bond amount. That percentage is based on the applying dealer’s credit and industry experience. With good credit, you can pay as little as 0.5%.
Bonds are required by the state to protect consumers from any fraudulent or illegal activity by the dealer. The Illinois Vehicle Code outline all rules and regulations vehicle dealers must adhere to; some rules include:
Our Bonding team has serviced companies and agents for over two decades, allowing us to develop proprietary programs, giving our clients the best rates possible. Apply now
Receiving an auto dealer bond is quite simple here at bonding solutions begin by filling out our 2-minute online application or call us. Then we will provide you our pricing along with the bond terms. After you pay for your bond, we will email and send your bond, same day.Get Started