Happy New Year! Now that the holiday chaos is over, it is time for you as a Georgia Motor Vehicle Dealer to be aware that your dealer license renewal deadline is coming up for 2020! Georgia’s State Board of Registration requires all Georgia auto dealer licenses to renew before March 31st of even years. Failure to do so can cause your license to be revoked and put you out of business.
Let’s go over some common questions and tips to prepare you for the March license renewal.
What is the process of renewing your Auto Dealer License?
Georgia requires that all used auto dealers that intend to continue conducting a used auto sales business in Georgia submit a renewal application with proof of bonding (either a new surety bond OR a continuation certificate). Dealers that sell new autos are excluded from this requirement. In addition to the renewal license application and renewed bond, you will also need to provide proof of sales ID tax, insurance, place of business registration, and 6 hours of continuing education.
This compliance is also for used auto dealers that may have recently obtained their license and purchased a bond within the last year. For example, if a new used auto dealer received their license and purchased a bond in April 2019, the license would still need to be renewed before the March 31, 2020 deadline. The bond’s premium would have been prorated, and a renewed bond would still be needed for 2020. Failure to do so will result in your dealer license being invalid regardless if you have fulfilled your other Georgia license obligations. For more information on the process of renewing your Auto Dealer License please visit https://sos.ga.gov/index.php/licensing/plb/51
Renewing your Georgia Auto Dealer Bond
As previously stated, it is extremely important to meet the renewal deadline and the associated state requirements such as having a valid Georgia Auto Dealer Bond on file. This surety bond helps to ensure that dealers conduct business ethically and lawfully. Currently, the required bond amount for Georgia is 35,000.00.
Even if you have gone through this process before, or if it is your first time renewing your Georgia Motor Vehicle Dealer bond, https://ezsuretybonds.com can assist you with making this process quick, straightforward, and cost efficient.
What is the easiest way to renew your Motor Vehicle Dealer Bond?
Dealers can choose to renew their bond or obtain a new bond. If you have already received an automated renewal from your previous surety agency, but would like to try to save more money on your premium this year, give Ezsuretybonds.com/ a chance to beat your current quote. Our underwriters at EZ Surety Bonds will work hard to evaluate any credit score changes, industry experience, and other additional factors that can favorably impact your renewal cost.
If you are seeking competitive rates, additional information about Auto Dealer Bond renewals, and personalized customer service with surety bond experts log onto https://ezsuretybonds.com or call 833-471-3627 to get a FREE QUOTE NOW.