To sell automobiles in to the public in Texas you must apply for the appropriate class of dealer license and provide a Texas motor vehicle dealer bond. According to the Texas Department of Motor Vehicles an independent motor vehicle dealer may buy, sell, or exchange any type of used cars and trucks after being approved by the Department and providing a dealer bond in the amount of $25,000. Pursuant to Texas statute the surety bond must run for two years, concurrent with the underlying dealer’s license and must guarantee that the licensee will pay all valid bank drafts, including checks, drawn by the licensee for the purchase of motor vehicles, and transfer good title to each motor vehicle that the licensee sells. Any person that obtains a judgment against the dealer for an act covered by the surety bond can make a direct claim on it. Surety One, Inc., offers motor vehicle dealer bonds in all states where they are required by law. Our special program affords access to these bonds regardless of credit for all dealers. For more information visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email us at Underwriting@SuretyOne.com for a Texas motor vehicle dealer bond application or for information on any surety bond need.
