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 in Pennsylvania are mandatory to obtain to operate a business legally in the state. This auto dealer bond, similar to other surety bonds, acts as an agreement between three separate parties, the vehicle dealer (principal), the state (obligee), and the surety company. Generally, consumers that are harmed from illegal business activities such as fraud or not honoring any written contracts can claim against your surety bond. A motor vehicle dealer bond is posted to protect the buyer, not the business. The bond is set to make sure the operating vehicle dealer will abide by Pennsylvania’s state Statutes and applicable laws.
Pricing of your motor vehicle dealer bond is dependent on industry regulations and the applicant’s personal credit. Pennsylvania requires all motor vehicle dealers to post a bond at $20,000. Similar to other bonds, this surety bond is subject to underwriting, so you do not have to pay the full $20,000 but a percentage based on your credit. Typically applicants receive rates from 0.5% to 10%.
Regardless of your credit history, Bonding Solutions can help you receive a lot rate on your auto dealer bond with our proprietary programs. Contact an expert today.
A surety bond is required to be posted by the state. It ensures that all business done by the motor vehicle dealer will be done according to Pennsylvania’s Statues and applicable laws. In case of any fraud or illegal business activity, a claim can be made against your auto dealer bond. This bond allows the public to stay safe and not be financially harmed by the auto vehicle dealer.
Bonding Solutions makes getting an auto dealer bond simple and effective. You can begin by taking two minutes to fill out our online application or call. After we receive the required information, we will then send you our pricing along with the terms. Once you pay for your bond, Bonding Solutions will email and send you your surety bond the same day.Get Started