Need to Know Facts About Florida Auto Dealer Bonds & Licenses

Learning about Florida auto dealer bonds could leave your head swirling. In fact, taking a look at the official Florida Department of Highway Safety and Motor Vehicles website and their information page on Florida auto dealers license requirements, can make things even more confusing, because it’s a load of terminology, dates, forms, fees, and more.

Eliminating some of the jargon and driving down to the facts of the matter is important, so you can obtain the correct Florida car dealer surety bond, and stay up to date on all other requirements and needs.

First, one of the most important things to know is that Florida has six different classifications of Florida auto dealers license types. This includes the Independent Dealer (VI), Franchise Dealer (VF), Service Facility (SF), Wholesale Dealer (VW), Auctions (VA) and (Salvage).

From there,  you’ll also see two different varieties of mobile home dealer licenses, the Mobile Home Dealer and Mobile Home Broker, as well as two other options for recreational vehicles, new or used Recreational Vehicle Dealer (RV and RU, respectively).

Each of these has different requirements, regulations, and so forth. For example, for Independent Dealers, their Florida auto dealer bonds expire on April 30th, whereas Franchise Dealers expire December 31st.

The value of the Florida car dealer surety bond you obtain will also differ. For example, a recreational dealer needs an original $10,000 surety bond, plus garage liability insurance with minimum coverage amounts, whereas any of the first six classes of Florida auto dealers license holders need a $25,000 surety bond.

Of course, it doesn’t end there. You need to fill out and file the correct HSMV form, at the correct time, and have all of the other applicable requirements, from fees to fingerprints to federal ID tax numbers and more.

If you have any further questions about obtaining a Florida auto dealers license or Florida auto dealer bonds, then simply give us a call at 407.889.2612, and we’ll be happy to guide you through the process, with efficient and attentive service, and affordable fees.

You can also fill out our online form to get in touch with us today about your Florida car dealer surety bond.

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