What’s the Cost of a $25,000 Florida Auto Dealer Bond?
To get bonded, you don’t have to pay the full bond amount. You’ll only need to pay a small percentage of it.
Your actual cost is called the bond premium. It depends on the strength of your personal and business finances, with your personal credit score being the most important factor.
|Florida Auto Dealer Bond Costs|
|License type||Bond Amount||Starting Price|
|Florida independent and franchised auto dealers||$25,000||$250|
Your company finances, fixed and liquid assets, and professional experience may also influence your bond cost. For a complete overview of how your premium is determined, don’t miss our detailed surety bond cost guide.
Want to get a quick estimate of your auto dealer bond cost? Check out our 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 with Bad Credit?
It is possible to get bonded even if you have bad credit, bankruptcies, or other financial difficulties.
Our Bad Credit Program is tailored for applicants with less-than-perfect credit who may otherwise have their bond applications rejected elsewhere. Bryant Surety Bonds allows you to get the Florida motor vehicle dealer bond you need, so you can launch your dealership.
How to Get a Florida Dealer License?
To sell more than 3 vehicles in a period of 12 months in Florida, you’ll need to get licensed with the Department of Highway Safety and Motor Vehicles.
Besides posting a surety bond, you’ll also need to obtain the following to meet the Florida car dealer license requirements:
- Registration of a business entity in the state
- Sales tax number from the state Department of Revenue
- Employer Identification Number from the IRS
- Proof of meeting all business location requirements
- Pre-licensing dealer training class
- Electronic fingerprinting for all of your officers
- Garage Liability Insurance with a minimum of $25,000 combined single-limit liability coverage including bodily injury and property damage protection and $10,000 personal injury protection
- Completed application form
- Pay the required licensing fee (between $300 and $340, depending on your license type)
Make sure to renew your license yearly before its expiration date to continue your operations.