Viking provides Auto Dealer Surety Bonds nationwide. Viking provides competitive terms and quick service. Getting the bonding process started with Viking is easy. There are several ways to get started on your bond request with Viking:
An Auto Dealer Bond is a type of commercial license surety bond. The bond is typically required by departments in state governments that handle vehicle licensing such as the Arizona Department of transportation.
Each state has a set of laws and statutes regarding the operation of auto dealers within that states boundary. The Auto Dealer Bond serves to protect the state by providing a form of guarantee that the licensee, the dealer, will adhere to these state laws.
In an instance where the auto dealer does not adhere to the state laws, a claim may be made on the bond up to the bond penalty, bond amount. In the case of a claim, the Surety, the company providing the guarantee behind the bond, is typically required to pay the penalty amount to the state within a certain time frame if the dealer has not already done so. The Surety will then attempt to collect the paid amount from the dealer. The auto dealer is ultimately financially responsible for any amount paid on the Bond.
Rates for Auto Dealer Bonds vary widely. The rates are determined based on various factors which include credit standing and may include financial standing as well. Typically, the poorer the credit, the higher the quotes are for auto dealer bonds.
The best way to get a truly accurate quote for an auto dealer bond is to apply for the bond and let the underwriter review the request and put a quote together.
will always attempt to get the best rate for any surety bond request. In instances where the rate is high to start due to challenged credit, our renewal department can remarket the bond, at time of renewal, if there has been an improvement in credit and/or financial standing.
There is some information that is specific to each type of bond for each state. In most cases, our agents either already have the necessary information, or can assist with getting it.
(See Also: Auto Dealer Bonds By State)
Learn the process of becoming bonded and insured. Find out how your company can obtain both.
A Performance Bond is a type of Contract Bond. These typically involve an awarded contract. Read on to learn more.
Performance Bond costs can vary widely based on many variables. Read about how the premiums are calculated.
Viking can get your Freight Broker bond requirement satisfied quickly. Quotes and fast, FREE with no obligation.
Learn about Utility Deposit Bonds. Learn about how they work, why they are used and how to get one if needed. Get a quote here.
Credit challenges are not always a barrier to obtaining a Surety Bond. Often times, Viking can quote your request despite a poor credit rating.
A DMEPOS Bond is required of some durable medical equipment suppliers. Read on an get a FREE quote here.
Need a Motor Vehicle Dealer Bond? Viking provides MVD Bonds nationwide. Great rates and fast quotes. Good and bad credit.
If you need a Contractor License Bond Viking can help. The process is simple and easy. We provide great rates and fast service.