Motor Vehicle Dealers - New or New and Used Vehicles
Required for Ohio dealers who sell remanufactured vehicles to obtain and maintain their dealer license from the State of Ohio.
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About This Bond
Ohio Remanufactured Dealer Bond
The Ohio Remanufactured Dealer Bond is a surety bond required by the State of Ohio for businesses that deal in remanufactured vehicles. This bond ensures that remanufactured vehicle dealers comply with all applicable state laws, regulations, and licensing requirements governing their operations.
Who Needs This Bond Remanufactured vehicle dealers operating in Ohio must obtain this bond as part of their licensing requirements. This includes businesses that purchase damaged or salvaged vehicles, restore them to operational condition, and resell them to consumers.
Protection and Coverage The $100,000 bond protects the State of Ohio and consumers from financial losses resulting from the dealer's failure to comply with state regulations, fraudulent practices, or violations of consumer protection laws. If a dealer fails to honor warranties, misrepresents vehicle conditions, or engages in deceptive business practices, affected parties may file claims against the bond for compensation.
Bond Terms This bond has a one-year term and is renewable annually. Dealers must maintain continuous bond coverage to keep their license active and continue operating legally in Ohio.
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FAQ
Ohio Auto Dealer Bond Questions
The cost of a Ohio auto dealer bond is usually a small percentage of the state-required bond amount. Your exact premium depends on the bond amount, license type, business details, and underwriting factors such as credit.
Many auto dealer bonds can be issued the same day after you complete the application. Larger bond amounts or applications that need underwriting review may take longer.
Requirements vary by license type, but most Ohio auto dealers need to complete a short application and purchase the bond amount required by the state before their license can be issued or renewed.
Often, yes. Many states have separate bond requirements for wholesale, retail, broker, or other dealer license types. Choose the bond that matches your Ohio license instructions.
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TurboBonds.com is operated by Insurance Services by Shield, a California and Texas licensed insurance agency (CA License #6018195, TX License #3446536). Insurance Services by Shield is not an insurance carrier and does not underwrite bonds or insurance policies. Bond and coverage availability, pricing, and issuance are subject to carrier underwriting approval, eligibility, applicable state requirements, and policy or bond terms. Availability varies by state.
