Florida law states that any person, firm partnership, or corporation that buys, sells, offers for sale, displays for sale or deals in three or more motor vehicles in any 12-month period is presumed to be a motor vehicle dealer, must provide a Florida motor vehicle dealer bond, and must have an appropriate license. There are six classes of licenses issued to motor vehicle dealers. All license types have similar prelicensing and bonding requirements. Motor vehicle dealers are licensed and regulated by the Division of Motorist Services pursuant to Section 320.27 Florida Statutes. A license applicant must have a site approved by a Division of Motorist Services Regional Office, for the dealership location. Once the site is approved by a Regional Office Compliance Examiner/Officer, the application and Florida motor vehicle dealer bond in the amount of $25,000 must be submitted on state form HSMV form 86020. The bond obligation states that the dealer will comply with the conditions of any written contract made in connection with the sale or exchange of any motor vehicle(s) and will not violate any of the provisions of Chapter 319 and 320, Florida Statutes, in the conduct of business. The Division of Motorist Services has very helpful links and information to assist an applicant in understanding the Florida dealer bond and the licensing process. The auto dealer must submit a hard copy of his or her application, complete original sealed and signed surety bond with power of attorney made out to the dealer’s business name and address, associated registration documents and fee to:
Florida Department of Highway Safety
2900 Apalachee Parkway, Room A312, Maistop #65
Tallahassee, FL 32399
Florida surety bond leader, Surety One, Inc. offers same-day servicing of your new or renewal dealer bond request. Our special programs allow us to offer you bonding regardless of your credit and financial condition. Damaged credit? No problem! We have non-standard bonding programs for you. Do you operate in multiple states? No problem! We offer motor vehicle dealer bonds in all states where they are required by law. We also offer certificate of title bonds occasionally needed in the course of your dealership operations. Visit us at SuretyOne.com, call (800) 373-2804, or email us at Underwriting@SuretyOne.com for a Florida auto dealer surety bond application or for information on any surety need.
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