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:
Dealer bonds are required in most states throughout the country. Posting a bond is similar to a contract between three parties the dealer (principal), the surety, and the state (obligee) stating that the vehicle dealer will abide by state laws and regulations. The surety bond is one of the steps in Utah’s current licensing requirements.
Bonding Solutions has served clients and agents for over 20 years. Our proprietary programs help auto dealers receive industry-low pricing on their surety bonds. Receive a free quote for your bond today.
The cost of your surety bond is dependent on a couple of financial factors, the first being the applicant’s personal credit. We also consider the applicant’s industry experience. You are not required to pay the full bond amount but only a small percentage. Typically applicants will pay anywhere from 0.5% to 10% of the total bond amounts based on qualification.
Utah has three types of motor vehicle dealer bonds; Bond amounts are shown below:
Motor vehicle dealer bonds are required by most states. This is also the case in Utah. A surety bond allows the public to be financially safe when working with an auto dealer. If any buyer is harmed due to illegal business activity or fraud commitied by the dealer, then a claim can be made against the bond. This specific bond also assures that the vehicle dealer will abide by Utah’s Motor Vehicle Business Regulation Act as provided by Chapter 3, Title 41 of the Utah Code Annotated.
Getting your auto dealer bond is simple. Here at Bonding Solutions, we make the bonding process quick and straightforward. Start by taking our two-minute online application or call us. Once we receive your information next, we will send over our pricing along with the bond terms. Finally, you pay for your bond, then we will email and ship it to you the same day.
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