Whats the point of a Surety Bond (auto dealer)
I am interested in applying for an auto dealers license in Florida. One of the requirements is a $25,000 surety bond. I was reading what a surety bond is, but I don’t understand why an auto dealer would need one?
Also how easy\how much would it cost for an individual to obtain one of these bonds? My credit is decent, but I am only 20 and have no assets other than a few thousand savings (with some friends) to buy cars.
This question is in the General Section. Responses must be helpful and on-topic.