Who needs the Used Motor Vehicle Dealer Bond?
In the State of Michigan, Auto Dealers are required to obtain a $10,000 Motor Vehicle Dealer Bond to be in compliance with Section 248 of Public Act 300 of 1949 of the Michigan Statutes. All Michigan motor vehicle dealer bonds have a common expiration date of December 31st.
What is the Used Motor Vehicle Dealer Bond?
The Motor Vehicle Dealer Bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your auto dealer bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions.
What else do I need besides the Used Motor Vehicle Dealer Bond?
In addition to the bond, the State of Michigan requires that you carry garage liability insurance.
Ashton Agency can write your liability coverage too. Contact us today at (800) 452-2663 for a free, no-obligation quote on both your bond and insurance! We can write your bond for up to two or three years, with discounts available on the premiums. Let us save you money!
Not sure what else you might need to get licensed or renewed? Check out the requirements here!
I have my bond and insurance.. What now?
Dealers will submit the original signed bond form to the Michigan Department of State Office of the Great Seal. It must be filed at the office of the county clerk.
Motor Vehicle Dealer Bonds are also known as: Michigan Auto Dealer Bond, Auto Dealer Bond, Used Auto Dealer Bond, Used Dealer Bond, Franchise Dealer Bond, MVD Bond, DMV Bond, Dealer Bond, New Car Dealer Bond, New Auto Dealer Bond, and Car Dealer Bond.
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Only Ashton Agency can provide you with:
Everyone needs a dealer bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the auto industry. We've been helping auto dealers get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 452-2663 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (503) 253-1353. We can get you started right away!