Sacramento — Absolute Surety, LLC is now able to offer $50,000 California DMV bonds at a premium as low as $500 annually. Although personal credit is the primary qualification for surety bonds, Absolute Surety has announced a new financing option for motor vehicle dealers with bad credit. The new financing option has been created to help dealers who have been forced to pay over $1,500 annually. By financing through a 3rd party at just 30% down and four monthly payments, dealers will be able to invest their money into more productive areas of their business.
Annual Premiums Lowest In Years
These bonds were commonly written for only $500 a year, prior to the economic downturn. As a result of the great recession, a large amount of claims were made against the bonds causing the surety market to take protective action. The premiums were increased in order to curb losses and, as the amount of claims went up, rates went as high as $1,500 - even for dealers with excellent credit scores. As a result of changes in the marketplace, Absolute Surety, LLC (www.absolutesurety.com) is able to offer these bonds at a much lower rate than what has been available in recent years.
Low Premiums Without The Fees
Absolute Surety & Insurance Services, LLC is a family owned and operated company and has been issuing surety bonds to motor vehicle dealers for over 45 years. Absolute Surety has a number of â€˜A’ rated markets for ease of application and the best price. All quotes are based on the personal credit scores of the businesses owners, years in business, assets and/or other factors. Quotes are frequently available within 24 hours and bonds can be issued as quickly as within one business day. It is free to apply and Absolute Surety does not charge Rider Fees, Mandatory Overnight Fees or Broker Fees.
Absolute Surety, LLC receives daily applications from California auto dealers looking to save money on their surety bond. By utilizing their many relationships with surety markets, Absolute Surety is able to offer the lowest possible premiums.
Licensed motor vehicle dealers in California must obtain either a $50,000 retail dealer surety bond or a $10,000 wholesale/motorcycle dealer surety bond depending on the type of dealership. It is important for dealers, who are uncertain of which bond is required for their business, to contact the DMV for more information.
Absolute Surety, LLC
4314 Edgewater Drive
Orlando, FL 32804
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Local: (407) 674-7940
Toll Free: (855) 689-5106
Fax: (407) 674-7978