Georgia Auto Dealer Bond |
AmeriPro Surety Bonds | 844-589-9732
Georgia Auto Dealerships
Used car dealers and used car dealerships in Georgia must furnish the Georgia Secretary of State with evidence of a $35,000 Georgia auto dealer bond.
AmeriPro Surety Bonds offers you this surety bond for a timely filing with the Secretary of State’s office.
Georgia Auto Dealer Bond: Some Features
By statute, the Georgia auto dealership bond will expire on March 31st of even years. This surety bond, therefore, renews every other year.
Only an original surety bond may be submitted for filing with the state. (Our agency will send your surety bond to you by the same or the next business day. We also have options for expedited shipping, if required).
Georgia Auto Dealer Bond: Its Purpose
The purpose of the $35,000 Georgia auto dealer bond is a financial guarantee which ensures your compliance – and those who work for you — with all laws and statutes governing used auto dealerships in the state, particularly O.C.G.A. Section 43-47-8(g).
The bond, while required of you as a prerequisite for licensing, is essentially solely for the benefit of the state of Georgia and its residents.
The bond protects the public from any acts of fraud, theft, malfeasance or misfeasance, in the operation of a used auto dealership.
As principal of this surety bond, you are ultimately always responsible for reimbursing the surety for any claims paid on your surety bond, if that were the case.
Gerogia Auto Dealer Bond: Its Premium
You will be required to pay a very small fraction of the $35,000 surety bond amount.
The amount you will be asked to pay will be determined by the following:
- Information provided on your application;
- Credit score.
Also bear in mind that since the premium renews every even year, once every two years, that this is of course factored into the premium. That would be the case with any surety agency.
Nevertheless, our agency encourages you to work with us. We don’t blindly submit your application; we work diligently to find you the best surety bond pricing.
Applicants with very good credit may expect to pay just over 1% of the bond’s face amount; those with poorer credit scores will of course pay more.
However, our agency really works to find you the best and most fair overall surety bond pricing.
We value the rapport that we develop with our customers.
Becoming a Used Car Dealer in Georgia
Business-minded people who want to open a used car dealership in Georgia will need to complete all of the following (not necessarily in this order) in addition to obtaining the $35,000 surety bond:
- Have an established place of business;
- Attend a pre-licensing seminar;
- Apply for and receive a Georgia sales tax number;
- Complete an application for a used car dealership;
- Obtain a certificate of insurance (separate from the surety bond—the insurance protect you; the surety bond protects the state of Georgia and the consumer);
- Submit to a background check via fingerprinting;
- Other requirements as necessary.
Our agency helps you to obtain license and permit, court, and fiduciary bonds both in Georgia and nationwide.
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