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:
Motor vehicle dealer bonds are required by most states throughout the country. New Jersey requires a surety bond to be posted by vehicle dealers operating in the state. This auto dealer bond, similar to other surety bonds, acts as an agreement between three different parties the vehicle dealer (principal), the New Jersey State Department of Motor Vehicles (obligee), and the surety company. The bond is posted to make sure the motor vehicle dealer abides by the New Jersey State Statutes and laws.
The cost of your bond depends on industry regulations and the applicant’s personal credit. The applicant is not required to pay the full bond amount but only a percentage based on their credit. Typically rates range from 0.5% to 8% of the full bond amount. New Jersey vehicle dealer required bond limits are shown below:
Bonding Solutions served clients and agents for over 20 years. We have innovated new programs allowing you to receive industry-low rates on your surety bond regardless of your credit history. Contact an expert today.
Surety bonds are required by New Jersey to protect the public from any fraudulent activity or illegal business. The operating vehicle dealer in the state of New Jersey must adhere to N.J.S.A. 56:8-1 et seq. Consumers that are wronged by the auto dealer for certain covered actions can claim the full bond amount.
Posting a motor vehicle dealer bond is simple and effective when working with Bonding Solutions. Just start by taking our online application or call a surety expert. After we receive the needed information we will give you a free quote on the requested bond. Once you pay for the bond we will email and send you the surety bond the same day.Get Started