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 in the state of Tennessee are required before the dealer can conduct business. The bond amount required is $50,000.00. A motor vehicle dealer bond, similar to other surety bonds, acts as an agreement between three separate parties the vehicle dealer (principal), the Tennessee Department of Motor Vehicles (obligee), and the surety company. Any illegal actions or fraud committed by the operating vehicle dealer that violates licensing regulatory statutes allows the consumer, who was financially harmed, to claim against the surety bond.
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Bonding Solutions has worked with clients and agents for over 20 years, earning them industry-low rates on their surety bonds. Similar to most bonds, a motor vehicle dealer bond is subject to underwriting. Therefore, you’re not required to pay the full bond penalty amount but only a percentage based on your credit.
All qualified applicants can expect to receive bond rates as low as 0.5% to 3%. Tennessee mandates that all motor vehicle dealers must post a bond at $50,000. Regardless of your credit history, one of our surety experts can help you receive a low rate on your auto dealer bond. Contact an expert today.
Surety bonds are required by the Tennessee Motor Vehicle Commission to ensure the buyer’s safety. Any fraudulent activity or illegal business conducted by the auto dealer allows the public may make a claim against the surety bond. The operating vehicle dealer in the state of Tennessee must conduct business according to all rules and regulations outlined in The Tennessee Code Annotated 55-17-111.
Bonding Solutions makes getting a surety bond quick and simple. Start by completing our two-minute online application or call.
Next, we will send you bond terms and pricing for the surety bond you requested.
After you pay for your bond, we will email you a copy and send your motor vehicle dealer bond the same day.
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