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 South Carolina are mandatory to obtain to conduct any business 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 South Carolina Division of Motor Vehicles (obligee), and the surety company. This bond is required in order to protect the car buyer, not the dealer.
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The price of your bond depends on a few indicators, such as industry regulations and the applicant’s credit. An auto dealer bond, similar to other surety bonds, is subject to underwriting. Therefore you are not required to pay the entire bond amount but only a percentage based on your credit. Typically motor vehicle dealers will pay 0.5% to 10% of the total bond amount. In the state of South Carolina, there are two auto dealer bonds required. Pricing below:
Bonding Solutions has worked alongside clients and agents for over20 years. Our proprietary programs have helped auto dealers receive industry-low pricing on their bonds. Receive your free quote today.
Surety bonds are required by The South Carolina Department of Motor Vehicles to ensure the public’s safety. The state mandates that a surety bond is posted to ensure the buyer that the motor vehicle dealer conducts business according to Title 56 of the South Carolina Code of Laws related to motor vehicle dealers. If any illegal business or fraud wrongs a consumer, they can make a claim against the auto dealer bond.
Posting your surety bond is a simple process when working with Bonding Solutions. Start by taking our two-minute online application or give us a call. After we receive the required information, we will send you a quote on the requested bond. Finally, you pay for the bond, then we email and ship it to you the same day.Get Started