How much does an auto dealer bond cost?

How much does an auto dealer bond cost?


How much does an auto dealer bond cost? The amount you pay for your auto dealer bond is based on two main factors: bond amount and credit history. Bond amount is pretty self-explanatory a fifty-thousand-dollar bond will always cost more than ten thousand dollar bond. Your state determines your bond amount. Your credit history determines how much of that bond amount you’ll need to pay. If you have good credit you might only need to pay one to four percent of the bond amount, if you have bad credit you might need to pay anywhere from five to fifteen percent. For example, if you need a fifty-thousand-dollar auto dealer bond and you have good credit, you might only need to pay five hundred dollars for your bond. If you have bad credit though you could pay anywhere from 2,500 dollars to 7,500 dollars for your bond.

About the Author: Michael Flood

3 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *