Motor Vehicle Dealers - New or New and Used Vehicles

The State of Florida Motor Vehicle Dealer Surety Bond is a $25,000 financial guarantee required for all motor vehicle dealers operating in Florida. This bond ensures compliance with state regulations governing the sale of new and used vehicles.

Who Needs This Bond: All motor vehicle dealers in Florida must obtain this bond, including independent dealers, wholesale dealers, salvage dealers, auction dealers, franchised dealers, and service facilities. The bond is a mandatory requirement for obtaining and maintaining a motor vehicle dealer license in the state.

Protection and Coverage: This bond protects the State of Florida and consumers from financial losses resulting from fraudulent, deceptive, or improper business practices by motor vehicle dealers. It ensures dealers comply with state laws regarding vehicle sales, titling, registration, and consumer protection requirements.

Term and Renewal Details: The bond has different term periods depending on dealer type. Independent, wholesale, salvage, and auction dealers operate on a May 1st to April 30th term, while franchised dealers and service facilities follow a January 1st to December 31st term. The state allows bonds to be issued for either 1-year or 2-year terms. Licenses expire on the designated dates regardless of when issued during the licensing period. This bond is renewable and requires proper cancellation notices to be emailed to the appropriate regional obligee office.