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Texas Auto Dealer Bond

Getting your Texas Independent GDN dealer license requires you to purchase a surety bond, often called a motor vehicle dealer bond. This video will help you understand what a surety bond is and why the Texas Department of Motor Vehicles requires the bond. #suretybond #insurance

Getting a Texas Independent GDN auto dealer license requires the licensee to provide a $50,000 financial guarantee. The easiest and most cost effective way to satisfy this requirement is a surety bond or auto dealer bond.

This video will help you understand what a Texas auto dealer bond is and how to purchase one for the lowest possible cost. Plus you'll learn how to submit your bond to the Texas Department of Motor Vehicles.

Here are the video timestamps if you want to skip around:

  • 00:17 - Video agenda
  • 00:44 - The 5 dealer classifications that require a bond
  • 01:06 - The 3 dealer classifications that don't require a bond
  • 01:28 - What is a surety bond?
  • 01:35 - What are your dealership responsibilities?
  • 01:55 - Examples of dealership fraud
  • 02:17 - What is an auto dealer bond recap
  • 02:33 - How much is the Texas dealer bond amount?
  • 02:37 - How much does the Texas dealer bond cost?
  • 02:49 - How is the Texas dealer bond cost calculated?
  • 03:06 - What 3 factors will determine your price?
  • 03:24 - Examples of rates and prices
  • 03:39 - How to purchase your Texas dealer bond?
  • 04:01 - What happens after you purchase your bond?
  • 04:17 - How long does the Texas dealer bond last?

If you're ready to get a free price quote, use our online quote form. There is no obligation to purchase the bond after you get a quote. You have nothing to lose by seeing how low of a price quote we're able to get you.

If you'd prefer to speak with a bond specialist, you can call 1-800-608-9950.


 
 

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