Motor Vehicle Dealer Overview

In this post you’ll find a general overview of dealer bonds, also known as MVD bonds & license bonds.  For specific information on what type of bond and documentation you'll need to submit to satisfy the surety bond requirement of your dealership licensing process, please contact the appropriate motor vehicle agency in your state.

Auto dealers, used, new, and wholesalers in most states must file a surety bond with the state’s Department of Motor Vehicles before they can receive their dealer license.  Surety bonds are designed to protect the customers of the auto dealer.  A surety bond will help ensure that your dealership will follow the rules and regulations in the state where the dealership is located.

Typically, dealers obtain their motor vehicle dealer bond by applying with a surety bond company.  As part of the application process the dealer will fill out an application and agree to a credit check and may have to submit financial documentation, so that the bond company can be sure they are credit worthy and financially stable. 

Credit challenged clients may have a harder time acquiring a bond.  Some bond companies will not even help the dealer.  At Ashton Agency we are able to help almost all credit situations.  We have many programs available to help the clients with less than perfect credit.  Ashton Agency has been helping dealers all across the US get bonded quickly and easily for over 40 years.

Call (800) 452-2663 / (800) 451-4854 to speak with one of our bond specialist, or visit our website at http://ashtonagency.com.

California Used Motor Vehicle Dealer Bond.  All auto dealers are required to obtain a surety/license bond in the amount of $50,000 for a retail dealer.  A $10,000 bond is required for a motorcycle dealer, motorcycle lessor-retailer, all-terrain vehicle dealer, or wholesale-only dealer (less than 25 vehicles per year).  https://www.dmv.ca.gov/portal/dmv/detail/vehindustry/ol/dealer

Ashton Agency is able to get you a price comparison back in 1-2 business days.  We also have programs specially designed to help get used car dealer bonds for dealers with challenged credit.  Ashton Agency will shop around for the best rate possible with one simple application.  Our in-house underwriters are able to look at many personal variables on your application and can offer some of the lowest rates for multi-year premiums!

In addition to the dealer bond, Ashton Agency can help keep you covered with garage liability insurance.  We also write the California VIN Verifier, Notary, and Registration bond.  We are your one-stop shop for all your auto dealer needs!

Start saving time and money immediately!  Call us today at (800) 452-2663 to speak with one of our helpful customer service representatives (hablamos español). 

You can also visit our website at http://ashtonagency.com

New Mexico MVD bond renewal is fast approaching.

All New Mexico motor vehicle dealer bonds have a common expiration date of March 31st.  Auto dealers are required to obtain a $50,000 Motor Vehicle Dealer Bond to be in compliance with New Mexico Statutes.

With one simple application, Ashton Agency will shop around for the best rate possible and will get you a quote back in 1-2 business days.  Our in-house underwriters are able to look at many personal variables on your application and can offer The New Mexico Auto Dealer Bond as low as $250! We also have programs for bad credit if you are needing a used car dealer bond.

Ashton Agency offers an experienced insurance department that can write your liability coverage also.  Ashton Agency also has the $30,000 VIN Verifier bond as low as $228.  We are your one-stop shop for all your auto dealer needs!

Start saving time and money immediately!  Call us today at (800) 452-2663 to speak with one of our helpful customer service representatives (hablamos español). 

You can also visit our website at http://ashtonagency.com

Oklahoma MVD and other bond changes.

Oklahoma used motor vehicle dealers, auctions, non-auction consignments, wholesale dealers, used motor vehicle rebuilders, and manufactured housing dealers will be required by the State of Oklahoma to carry a two year term bond for all licenses expiring 12/31/2015.   Ashton Agency is here to help you with this newly mandated change.  We have updated bond forms ready and have also been informed that the State of Oklahoma will accept a Continuation Certificate for renewal dates extended out to 12/31/17.  We are ready and prepared for this change.

If you have any questions about your upcoming Oklahoma used motor vehicle dealer bond renewal or require any of the other bonds stated above, please reach out to our team at Ashton Agency.

Visit Ashton Agency’s website at www.ashtonagency.com or call (800) 451-4854

2015 is looking to be a great year for motor vehicle dealers.

According to Black Book data, the average price for the average used vehicle for model years 2009-2013 fell 12.1% in 2014.  A much smaller decline than the 12.8% for 2013 and less than Black Book’s prediction of 13.5%.  For the year, domestic trucks finished with the lowest depreciation at 9.1%, while domestic cars topped out at 15.9% depreciation.

“The used-vehicle market finished another solid year,” said Manheim Chief Economist Tom Webb. “Consumers continue to see great value in purchasing used vehicles, even at higher price points. Dealers continue to see used vehicles as an important and profitable part of their business.”

2015 is looking to be an even better year for sales of used cars and trucks.  Before going into the business of selling cars, check with your state for their requirements.  Most states have an extensive list of things you must obtain before you can open your doors to the public.  Things like site approval, business license, dealer courses, insurance and surety bonds are just the basic, but mandatory requirements in most states.

There are many costs with opening a business that are set in stone.  Business license and dealer license are just a couple.  Things like insurance and surety bonds can be shopped to find a competitive price.  Finding the best price for these means you might have to do some extra work to find a company like Ashton Agency.  Ashton Agency does the work for you and gets you the lowest price from multiple markets.  Let Ashton Agency’s 40 plus years of experience help save you time and money.

Please visit Ashton Agency’s website at www.ashtonagency.com or call (800) 451-4854 (East Coast) or (800) 452-2663 (West Coast) to obtain your MVD bond and garage insurance.