FRIDAY, JANUARY 2, 2015
 You are now the proud owner of your own car dealership! You started working part time at a local dealership, became full time and eventually learned all the job roles there. Now you have saved and learned so you can run your own dealership.
We want to make sure you don't forget about getting surety bonds. Most states require auto dealers to file a surety bond with the state's Department of Motor Vehicles. These states require surety bonds to protect customers from fraud. Even if your state does not require you to do this, it's a great idea to get a surety bond.
A surety bond will not only protect customers from fraud, but it will also give you credibility. Surety bonds help customers recover money if you, or anyone you hire, commits fraud or are unethical in doing business. For example, if you (or one of your employees):
- Misrepresent merchandise and a customer files a complaint, a surety bond can help protect the customer.
- Fail to file the proper paperwork so the customer's motor vehicle fees are paid, a surety bond can protect the customer.
- Do not pay the state taxes that customers have paid, a surety bond can make sure the customer does not have to pay taxes twice.
Once you have the proper surety bonds, you can include in your marketing that you are bonded for the customer's protection. This determination can give you credibility over dealerships that might not be bonded.
Don't wait! Contact us today and make sure you are covered so your potential customers know you are a company that they are safe doing business with.
Protect your business' interests. Call De Caro Insurance Agency at (626) 331-0914 for more information on Los Angeles surety bonds.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
you and the blog and website publisher.
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