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:
Auto dealer bonds are mandatory requirements for all operating motor vehicle dealers in Ohio. A surety bond also acts as a contract between the dealer, the surety company, and the state, ensuring that the auto dealer conducts business according to Ohio’s Statutes and laws. This bond is required to prevent customers from being harmed due to illegal business activity, for example, but not limited to:
Bonding Solutions has innovated new programs allowing any client or agent to receive industry-low pricing their bond. Get your quote today.
Ohio motor vehicle dealer bonds are required to be posted at $20,000 or $25,000 depending on the type of dealer applying. You do not pay the full bond amount, only a percentage based on your personal credit history and other qualifications. Highly qualified applicants can pay as low as 0.5% of the bond amount. Regardless of the type of credit you have, Bonding Solutions provides its proprietary programs that allow you to receive a low rate on your bond. Get a free quote today.
In Ohio, the requirement for a Motor Vehicle Dealer Bond is an integral part of the licensing process for auto dealers, emphasizing the state’s commitment to protecting consumers in the automotive market. Obtaining a motor vehicle dealer license is essential for conducting auto dealership business in Ohio, and a key component of this licensing is the posting of an Ohio auto dealer bond. This bond serves as a financial guarantee and a form of consumer protection, ensuring that dealers conduct their business in a lawful and ethical manner. It specifically aims to protect buyers from any fraudulent activities or illegal business practices a dealer might engage in, such as misrepresentation of vehicle conditions, unethical financial dealings, or failure to adhere to contractual agreements.
The bond acts as a safety net for consumers, offering them a means to seek financial redress in cases where a vehicle dealer violates Ohio’s statutes and laws. If a consumer suffers losses or damages due to a dealer’s misconduct or failure to comply with state regulations, they have the right to file a claim against the auto dealer bond. This claim process allows affected consumers to potentially receive compensation for their losses. The bond thereby ensures that dealers are held accountable for their actions, and it incentivizes them to maintain high standards of business practice.
Moreover, the Ohio Motor Vehicle Dealer Bond contributes to the overall integrity and trustworthiness of the auto dealership industry in the state. By mandating this bond, Ohio provides reassurance to consumers that they are dealing with reputable businesses that are legally bound to uphold certain standards of conduct. This requirement not only protects individual consumers but also helps to maintain a fair and competitive market for auto sales in Ohio, fostering a business environment where ethical practices are the norm and consumer rights are respected. The bond is thus a crucial element in regulating the industry and ensuring that dealers operate with a commitment to legality and customer service.
Bonding Solutions has developed a broad and effective surety bond approval system. Begin with taking our two-minute application or call. After we receive your information, we will present our low pricing and terms. As soon as you accept the terms and pay for your bond, we will email and send you your auto dealer bond the same day.Get Started