Michigan Auto Dealer Bond
Before you get your Michigan dealer license issued, you'll need to purchase a surety bond called a Michigan auto dealer bond. If this is your first time getting licensed, the concept of a surety bond is probably new to you.
This video was created to explain what an auto dealer surety bond is and why the Michigan Department of State requires it.
Check the timestamps below if you want to jump around. If you have any questions, ask in the comments and I'll personally answer you.
- 00:24 - Video agenda
- 00:45 - 10 dealer license classifications
- 01:17 - The licenses that require a bond
- 01:36 - What is an auto dealer bond?
- 02:01 - What does an auto dealer bond protect against?
- 02:42 - Examples of dealer misconduct and fraud
- 03:14 - What is the bond amount?
- 03:37 - How much does a dealer bond cost?
- 03:57 - Primary factors that determine the bond cost
- 04:29 - How to NOT overpay for your auto dealer bond
- 04:55 - How the price quote process proceeds
- 05:40 - Example rates and prices
- 06:09 - How long does it take to get your bond?
- 06:37 - How to keep your dealer bond active
- 07:35 - How to get pricing today
Read about post about the steps to get your Michigan auto dealer license.
How To Get a Dealers License In Michigan
Here are the 5 steps to get a dealer license in Michigan. This post will make getting your license application submitted and approved a lot easier.
Learn about the Michigan auto dealer bond called a Uniform vehicle dealer bond. What is it. Why it's needed. How to purchase one and save money.
Your dealership application requires a surety bond called an auto dealer bond. Learn what this bond is and how to buy it for as little as possible!
How To Get a Dealers License In Michigan
Here are the 5 steps to get a dealer license in Michigan. This post will make getting your license application submitted and approved a lot easier.
Michigan Auto Dealer Bond Update And 2023 Breaking News
Effective January 23rd, 2023 Michigan Auto Dealer bonds are having their amount increased from $10k to $25k. Learn about the change and make sure you're ready.
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