How Much Does a $25,000 Texas Auto Dealer Bond Cost?
Your bond cost, also known as the premium, is a percentage of the total bond amount you have to obtain. It’s determined by the surety company based mainly on your credit score. The higher your score is, the lower premium you can expect.
|Texas Auto Dealer Bond Costs|
|License type||Bond Amount||Starting Price|
|Texas auto dealer license||$25,000||$250|
Other factors like company finances, fixed and liquid assets, and professional experience can also influence your bond premium. To learn more about bond cost formation, check out our detailed surety bond cost guide.
For a quick estimate of your auto dealer bond cost, use our easy surety bond calculator below.
Surety Bond Cost Calculator
Tell us where to send you your FREE estimateSEND ME MY ESTIMATE!
We'll never share your information with third parties
Can I Get Bonded If I Have Bad Credit?
Even if you have a low credit score, tax liens, or even bankruptcy, you can still get a Texas motor vehicle dealer bond with Bryant Surety Bonds.
Applicants with financial issues are typically considered high risk by sureties and are offered higher premiums. Our Bad Credit Program is designed to help you get bonded and get on with your business.
How to Get a Texas Dealer License?
Getting a surety bond is only one of the Texas dealer license requirements.
Here are the rest of the steps you’ll need to take:
- Choose the type of dealer license you need
- For most types of vehicles, you’ll need an independent GDN license
- For selling new cars, you’ll also have to get a franchise license
- Secure your business entity documents
- Provide proof of an established and permanent business location
- Get an Employer Identification Number (EIN) from the IRS (if applicable)
- Provide personal information and ID for every owner, office or general partner too be included in the application
- Apply online for your license, attaching all required documents
- Pay the required license costs: $700 for one GDN license and $90 for each Texas dealer license plate
You have to renew your Texas motor vehicle dealer license every two years to continue your operations. You’ll get a renewal notice from the Texas DMV 75-90 days before your license expires. Don’t forget you’ll need to renew your dealer bond at that time as well.