Motor Vehicle Dealer - Used Bond
The Motor Vehicle Bond guarantees that the motor vehicle dealer complies with all federal laws, state laws, local laws, and tax and judgment guidelines that relate to motor vehicles. This bond is required by the State motor vehicle department to obtain a car dealership license. Used Auto dealer bonds do not protect the used car dealer from lawsuits, but it protects the consumer from fraud or misrepresentation by the car dealer. Dealer bonds guarantee compliance with state laws. Each state sets its own bond amount and expiration date. The Motor Vehicle Dealer Bond is also referred to as a Dealer Bond, MVD Bond, Auto Dealer Bond, Used Dealer Bond, and similar names. You are required to have a bond prior to obtaining a Dealer License.
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