Infographic : All about Auto Dealer Bonds
The infographic, “All You Need to Know about Auto Dealer Bonds in Florida”, provides key details about auto dealer bonds. The infographic describes the basics of auto dealer bonds, steps to become a licensed auto dealer in Florida, and the benefits of having an auto dealer bond through a bond company. An auto dealer bond protects customers against various unethical practices such as tampering with the odometer, providing false information about a vehicle’s condition, failure to honor oral or written warranties, engaging in deceptive financial methods, not paying state sales tax or other applicable fees, not reporting sales, failing to adhere to the conditions of their license type, etc.
Under auto dealer bonds, auto dealers pledge to comply with the written conditions in all contracts created for the sale or exchange of motor vehicles. In case the auto dealer causes any financial damage to customers, the victim will be compensated up to the full bond amount. Having an auto dealer bond is not only beneficial for the customers, but they are also beneficial for auto dealers. If a claim is made against the dealership, the bond issuer will fully investigate the claim before deciding to pay any amount. For more information about the benefits of auto dealer bonds and the steps to becoming a licensed auto dealer in Florida, please refer to the infographic.