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:
Similar to other surety bonds, motor vehicle dealer bonds act as an agreement that any vehicle dealer in the state of Virginia will abide by the state’s Statutes and applicable laws. A surety bond is a contract between the state (the obligee), the state of Virginia, and the surety company. The auto dealer bond is mandatory to be acquired because it protects the buyer from any illegal business.
The cost of a surety bond depends on industry regulations and the applicant’s personal credit history. A motor vehicle dealer bond is subject to underwriting, so you do not pay the entire bond amount but only a small percentage (premium) based on your credit. Typically vehicle dealers will pay anywhere from 0.5% to 10% of the full bond amount. The required motor vehicle dealer bond amount in Virginia is shown below:
Bonding Solutions has developed proprietary programs allowing our clients and agents to receive industry-low rates regardless of credit. Speak with a surety expert today.
The Division of Motor Vehicles in the state of Virginia requires the (principal) auto dealer to obtain a surety bond prior to conducting business in the state. This bond is mandatory to protect any consumer from illegal business or fraudulent activity conducted by the licensed dealer. This specific motor vehicle dealer bond ensures the public that any operating vehicle dealer in Virginia is conducting business according to Chapter 15, Title 46.2 of the Virginia Code.
Bonding Solutions make getting a surety bond simple and effective. Start by taking two minutes to fill out our online application or call one of our bonding experts. After we receive the required information, we will send you a free quote on your auto dealer bond. Finally, you pay for your bond, and then we’ll email and send it the same day.Get Started