Alabama motor vehicle dealers and designated agents, and dismantlers! Bond requirements have changed. The bill known as Act No. 2019-244 and was passed in May of 2019. This bill changed the minimum Alabama auto dealer bond from $25,000 to $50,000, effective October 1st, 2020. Don’t let the deadline of September 30th sneak up on you. American Surety is here to help provide approval on your upcoming renewal. Start by filling out our easy Alabama Auto Dealer Bond Application today! Apply today, renew today, approval today.
Obligee: Alabama Department of Revenue
Bond Amount: $25,000
Apply today! Or call (404)-486-2355
Unsure what this means? Let American Surety help!
What is an auto dealer bond?
Auto dealer bonds guarantee that the auto dealer is operating under the state’s regulations. Getting a bond guarantees to your clients that you’re in compliance with the State of Alabama.
What is my minimum auto dealer bond amount?
Bond amounts differ state to state. Each state has different requirements for the minimum bond amounts that auto dealers must obtain. For instance, Georgia requires a minimum bond amounts of $35,000. The good news is American Surety is licensed in all 50 states and ready to write your bond! Apply today, approve today using our Auto Dealer Bond Application or call (404)-486-2355/ (877)-201-8976.
How much does an auto dealer bond cost?
The price you pay for the bond and the bond amount is different. The price you pay for the bonds is dependent on the bond amount as well as your net worth, years in business, and the business’s financial history. American Surety considers the strength of the dealership, personal credit, business finances, and many other factors to determine the bond rate. The bond premium is the amount you pay, which is usually around less than 1% or higher regarding the bond amount. Get your bond now! Apply today, approve today!
Renewing a little late? We have Fast Track Programs!
It’s not too late for you to come into compliance with your Alabama Auto Dealer Bonds. American Surety still has the authority to make your bonds effective for your renewal date! See our simplified Alabama Auto Dealer Bond Application or call (404)-486-2355/ (877)-201-8976 today! Apply today, approve today!