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Georgia Motor Vehicle Dealer Bond

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Getting a Georgia motor vehicle dealer bond is a key step to becoming a licensed car dealer in the state. The motor vehicle dealer bond serves as an extra guarantee that your dealership will follow all rules and regulations that govern motor vehicle dealers in the state of Georgia.

Just like all surety bonds, the Georgia motor vehicle dealer bond serves as protection for the general public, and not as insurance for your business. In case you don't follow the rules and your obligations under the bond, a claim can be made against you. If proven to be a legitimate claim, the penal sum of the bond is used to compensate the affected parties. The surety covers the costs of claims up front, which you’ll be required to reimburse in full. This means you should avoided having any claims, as they can cause serious harm to your business and finances.


Georgia Motor Vehicle / Auto Dealer Bond Cost

While $35,000 might seem like a large amount to pay, in reality, you only need to pay a percentage of it to get bonded, which is called the bond annual premium. The surety company will look at several factors to determine your motor vehicle dealer bond cost, most importantly, your credit score. Factors such as years licensed and years of industry experience will also play a factor in your dealer bond cost.

  • If your credit score is above 650, you’ll likely have to pay between .75% and 2% of the bond amount.

  • For applicants with credit scores between 600 and 649, the rates range between 2.5% and 4%.

Dealer Licensing Requirements / How To Become A Car dealer

The following is a checklist of required documents for this application: 


What are the insurance recommendations?

It is required that all motor vehicle dealers in the state of West Virginia obtain liability insurance coverage. Some examples include:

  • Garage Liability Policy with a minimum of $50,000 Premises and Auto Liability Coverage

  • Dealer Inventory Physical Damage Coverage

  • Uninsured and Underinsured Motorist Coverage

  • Garage Keepers Coverage - (if you do repairs, or paint & body work)

  • Property Coverage for any buildings or tools

  • Medical Payments of $1,000, $2,000, or $5,000

How To Renew your Georgia Car dealer License

If you have currently hold this license and need to renew in order to keep your license up to date, apply for  renewal before September 30 of the year it expires to avoid late fees.  

How to Renew

If you have currently hold this license and need to renew in order to keep your license up to date, apply for  renewal before September 30 of the year it expires to avoid late fees.

  • To process your renewal, log in to your account on the Georgia Online Licensing site

  • Click on the License Renewal button on the left-hand side of the page. Enter your login information. 

  • If you do not remember your login credentials, click on the link to reset for a “person” type license.  

  • Follow the instructions for online renewal specific for your license. 

Of note, you are required to obtain 6 hours of CE in order to be eligible to renew your license. See CE Requirements for more information. 

Hassle Free Guarantee Dealer Bond

Whether applying for your first auto dealer license in Georgia, or renewing an existing one, you have to submit a dealer application form, together with all necessary documents that prove you meet the requirements.

When you renew your license, you’ll have to renew your Georgia auto dealer bond as well. As your business finances and personal credit score can change, make sure you work on improving those stats, so that you can reduce your surety bond cost over the years.

Request a FREE Bond or Insurance Quote today!


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