The Maryland Bond of Information Requestor Driver Vehicle Records Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Motor Club Deposit Bond starts at $150 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Boat Dealer Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Prince George's County Motor Vehicle Repair Facility Bond starts at $75 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Prince George's County Towing Service License Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Motor Vehicle Manufacturer Bond starts at $250 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Motor Vehicle Title Service Agent Bond starts at $500 plus shipping costs and fees. Fill out the form to buy your bond instantly!
The Maryland Vehicle Dealer (All License Types) Bond starts at $100 plus shipping costs and fees. Fill out the form to buy your bond instantly!
Auto dealer surety bonds (also called motor vehicle dealer bonds) are mandated by the State of Maryland Motor Vehicle Administration (MVA) as part of the licensing requirements for dealerships to conduct business in the state. The MVA sets the total bond amount based on the type of dealership license and the number of vehicles sold during the previous year. Bond amounts for new and used motor vehicle dealers can range from $15,000 to $300,000.
The surety company determines your premium rate, which is the percentage of the total bond amount you pay as the premium. Premium rates for Maryland auto dealer bonds typically cost between 1% and 3% of the total bond amount.
During the application process, the surety company evaluates your personal credit, financial statements, industry experience, and licensing history. Applicants with good credit generally receive the lowest rates, however, bad credit will not prevent you from securing a Maryland auto dealer bond. EZSurety still offers competitive rates to individuals with low credit scores or other financial issues.
Below are the lowest premiums EZ Surety has issued for auto dealer surety bonds in the State of Maryland.
Maryland auto dealer bonds provide protection for customers, creditors, and the state government. When a Maryland motor vehicle dealer posts a surety bond, they provide a guarantee to the bond’s Obligee (the Maryland MVA) that they will conduct business in compliance with the conditions listed in the Sections of the Transportation Article, of the Annotated Code of Maryland.
If the auto dealer fails to comply with the code, the surety company will pay out financial losses to damaged parties up to the full bond amount. The auto dealer is liable to reimburse the surety for any damages paid under the bond.
To obtain your auto dealer license in Maryland, you must meet the Maryland MVA licensing requirements by completing the following steps:
You’ll know if you need a surety bond because some entity will have required you to obtain one. They must also inform you of which specific bond type you’ll need. There are thousands of bonds across the country, all of which vary by state and industry.
Visit EZSuretyBonds.com to browse hundreds of bonds by state, type, or industry.
