BondExchange Lowers Rates on Florida Dealer Bonds

florida motor vehicle dealer bond

Your auto dealer clients continue to suffer from supply chain issues and inflationary pressures, painting the picture of a turbulent economy. While trends may seem positive for franchise dealers through the end of 2024, used dealers continue to struggle. This slough of operational and market pressures is enough to cause seasoned dealers significant strife, and the last thing they need to worry about is securing their surety bond. 

BondExchange agents now have a leg up with exclusive access to our Florida Motor Vehicle Dealer Bond program, allowing your clients to obtain their bond at a fraction of the current “market” cost without sacrificing our industry-leading application efficiency. 

Amidst these hardening conditions, sureties have similar reactions – increase premium rates or pull out of the market. BondExchange opts for a different approach. Pairing Jet Insurance Company’s underwriting criteria with BondExchange’s state-of-the-art surety technology enables Florida licensed dealers to secure their Auto Dealer Bonds without headache. On the backend, BondExchange underwriters focus on thoroughly screening applicants to provide sustainably lower bond prices for qualified dealers. 

BondExchange offers the industry’s best rate of $140 annually and a monthly payment option of $14 for used, wholesale, auction, franchise, and salvage dealers.

Old Rates New Rates Rate Change
Subscription $93 - $863 Subscription $85 - $750 Subscription 11% - 13% Lower!
Pay in Full $925 - $8,625 Pay in Full $849 - $7,500 Pay in Full 8% - 13% Lower!

While economic conditions may be left to interpretation across the aisle of lead economists, BondExchange agents can rest easy knowing they have a reliable bond source for their clients in a hardening market. 

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