You need a license to become a car dealer, and you need an auto dealer bond before you can get a license. A bond is basically a way to hold you financially accountable if you break state laws. Fortunately, getting through the auto dealer bond process doesn’t have to be difficult as long as you know what to do:
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Stay in Good Standing – Surety companies can refuse to renew a bond or even revoke a bond if they choose not to continue working with a specific car dealer. Usually, they only take this drastic action when someone has multiple claims against their bond or lingering unpaid debts. Since it’s so important to have an active auto dealer bond at all times, stay in good standing with the surety that backs up the bond.
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