What is a Georgia Auto Dealer Bond?
The Georgia Auto Dealer Bond is a $50,000 surety bond required by the Georgia State Board of Registration of Used Motor Vehicle Dealers and Used Motor Vehicle Parts Dealers. It guarantees dealers comply with state law and protects consumers from fraudulent or dishonest practices. This bond is also known as a Used Motor Vehicle Dealer Bond, Used Car Dealer Bond, or GA Dealer Bond
Who Needs the Bond?
All licensed and applicant used motor vehicle dealers in Georgia must obtain this $50,000 surety bond and maintain it for the full two-year license term.
Why Is the Bond Required?
This bond protects consumers and the state by ensuring dealers operate honestly, pay required fees and taxes, and follow all applicable laws and regulations.
How Much Does the Bond Cost?
Bond premiums are based on a small percentage of the S50.000 bond amount and and determined by several factors, including:
- Personal credit history
- Business experience
- Home ownership
- Net Worth
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