Any auto dealer that sells new motor vehicles in Florida, for a specific manufacturer, is required to carry a $25,000 Franchised Motor Vehicle Dealer Bond according to the Department of Highway and Motor Vehicles, Division of Motor Vehicles. This Surety Bond is designed to protect the consumer from fraudulent acts committed by the dealer. Some of the common reasons a consumer would file a claim against the Bond include, improper transfer of the vehicle title, misrepresentation of a vehicle’s mileage, or covering up and misrepresenting important facts related to a vehicle’s history. All Franchised Motor Vehicle Dealer bonds expire on the 31st of December each year and must be renewed with an effective date of January 1st.
To learn more about the licensing requirements for Franchise dealers, please visit the Florida Department of Highway Safety & Motor Vehicles website.
Call us at (855) 952-6633 to speak with a Surety Bond Expert
What happens after I apply online for my Surety Bond?
Step #1: A Surety Bond underwriter will immediately review your application, if it has been fully completed.
Step #2: A friendly Surety Bond expert will reach out to you to explain your quote or request additional information.
Step #3: Once you accept your quote and pay any premium due, your Surety Bond will be issued and delivered immediately.