Motor Vehicle Dealers - Used Vehicles Only

Georgia Used Motor Vehicle Dealer Bond

The Georgia Used Motor Vehicle Dealer Bond is a surety bond required by the state for businesses engaged in the sale of used motor vehicles. This bond serves as a financial guarantee that the dealer will operate in accordance with Georgia's motor vehicle dealer laws and regulations.

Who Needs This Bond Used motor vehicle dealers operating in Georgia must obtain this bond as part of their licensing requirements. This includes independent used car lots, franchise dealers selling used vehicles, and other businesses primarily engaged in the retail sale of pre-owned motor vehicles.

Protection and Coverage The bond protects consumers and the state by providing financial recourse if the dealer engages in fraudulent practices, fails to transfer titles properly, or violates other provisions of Georgia motor vehicle dealer laws. The obligee, His Excellency, Governor of Georgia, can make claims against the bond on behalf of damaged parties.

Bond Details This bond requires a coverage amount of $35,000 and has a 2-year term length. The bond is renewable, allowing dealers to maintain continuous coverage as required for license renewal. Dealers must keep this bond active throughout their licensing period to remain in compliance with state requirements.