How much does a used auto dealer bond or used auto parts dealer bond cost in Georgia?
The Georgia State Board of Registration required used motor vehicle dealers to post $35,000 surety bonds. Used auto parts dealers must post $10,000 surety bonds.
These bonds are subject to underwriting, which means the price you’ll pay depends on a review of your personal credit report. Applicants with strong financial credentials could qualify to pay as little as 1% of the bond amount! Bad credit? No problem! SuretyBonds.com offers an exclusive bad credit bonding program through which we approve 99% of applicants for the bonds they need quickly and easily. Request your free bond quote now!
Call 1 (800) 308-4358, or submit a bond request, to connect with our team of surety bond experts. We can provide your free, no-strings-attached bond quote within 1 business day of submitting your application!
Why do I need this bond?
By posting a Georgia used motor vehicle dealer and used motor vehicle parts dealer surety bond, principals (vehicle and/or parts dealers) pledge to pay all loss, damages and expenses that may be sustained by any purchaser of any used motor vehicle or part, his vendees or successors in title that occur as a result of the dealer’s fraudulent misrepresentations regarding liens or titles or as a result of the dealer’s breach of warranty regarding liens or titles of any vehicle or part being sold.
The bond is put in place to ensure that dealers conduct business ethically and in accordance with the laws of the state of Georgia.
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What’s the fine print?
Used auto dealer bonds in Georgia expire on March 31 of even-numbered years, while used auto parts dealer bonds in Georgia expire on December 31 of every odd-numbered year. Therefore, the price you pay for these bonds may be prorated.
These bonds remain in full force and effect until canceled. The principal and the surety can cancel the bond by giving written notice of cancellation via a certified letter to the Board of Registration at least 30 days prior to the proposed cancellation date.
How to become a used motor vehicle dealer in Georgia
To become a licensed used auto dealer in Georgia, applicants must submit the following materials:
- completed application form
- surety bond of $35,000
- certificate of insurance
- fingerprints scanned at an approved GAPS print site
- proof that he or she has attended the seminar required by O.C.G.A Section 43-47-8(d)
- proof that he or she has applied for a sales tax registration number
- photographs required by Rule 681-3-.02
- all appropriate fees
Take the first step toward becoming licensed in Georgia by purchasing the surety bond you need! Our experts do all of the hard work for you so that you can focus on what you do best: running your business.
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