Dealer Surety Bond in Florida: $25,000 Requirement

Florida requires all licensed dealers to maintain a $25,000 surety bond. Here is exactly what you need, what it costs, and what happens when a claim is filed.

Bond Requirement at a Glance

Required Bond Amount$25,000

Issuing AuthorityFlorida Department of Highway Safety and Motor Vehicles (DHSMV)

Estimated Annual Cost$125–$375/year (0.5%–1.5% of $25,000)

Required for all licensed dealers. Wholesale dealers who sell 25+ vehicles/year need the same amount.

Who Needs a Surety Bond in Florida

Every Florida dealer must maintain a continuous surety bond. Bond must name DHSMV as obligee.

Independent dealer
Franchise dealer
Wholesale dealer
Salvage dealer
Mobile home dealer

How to Get a Bond in Florida

Where to get it: Any surety company licensed in Florida. Popular: SureBonds.com, Surety1, Bond Exchange

Florida requires the bond be filed via DHSMV's online portal or by mail with form HSMV 86060.

Annual Premium Cost

$125–$375/year (0.5%–1.5% of $25,000)

Florida dealers who bundle their surety bond with a business owners policy (BOP) often get premium discounts.

How Claims Work

Buyer files complaint with DHSMV. DHSMV investigates and may facilitate claim against bond.

Florida allows direct consumer suits against dealer and the surety company under §501.976 F.S.

Penalties for Operating Without a Bond

License revocation; civil fines $500–$1,000/violation; potential criminal referral.

Florida-Specific Note

Florida dealers must post a $10,000 cash bond or letter of credit in lieu of surety if they sell vehicles on consignment.

Florida-Specific Facts for Dealer Surety Bond

Florida Vehicle transfer fees and requirements

In Florida, the title transfer fee is $75.25 and registration costs $14.50 - $32.50 based on vehicle weight. Vehicle sales are subject to 6% state sales tax plus discretionary county surtax (up to 1.5%). Florida does not require notarization for private-party vehicle transfers. Florida does not require emission testing for private-party vehicle sales.

Electronic title program (no paper titles for lien-free vehicles)
Title must be transferred within 30 days
Sales tax applies to purchase price or NADA value, whichever is higher
Florida Highway Safety and Motor Vehicles handles registration

Official Florida bill of sale form

The official Florida bill of sale form is HSMV 82050 (Motor Vehicle, Mobile Home, or Vessel Bill of Sale). BillOfSaleNow generates a document that meets all Florida requirements and can be used in place of the official form.

Florida sales tax on vehicle purchases

Florida has a 6% state sales tax rate. 6% state plus county discretionary surtax (0.5–1.5%). Private-party vehicle sales in Florida are subject to sales tax. Tax based on purchase price or NADA book value, whichever is higher. The title transfer fee is $75.

Florida bill of sale statistics

BillOfSaleNow has generated 8,923 bill of sale documents for Florida transactions, with 241 generated this month alone. The most popular vehicle type is car.

More Florida Vehicle Guides

Each guide is written specifically for Florida laws, agencies, and procedures. Bookmark for future reference.

Frequently Asked Questions

How much is a dealer surety bond in Florida?

Florida requires a $25,000 surety bond for licensed dealers. Required for all licensed dealers. Wholesale dealers who sell 25+ vehicles/year need the same amount.

Who requires a dealer surety bond in Florida?

Florida Department of Highway Safety and Motor Vehicles (DHSMV) requires the bond. Every Florida dealer must maintain a continuous surety bond. Bond must name DHSMV as obligee.

How much does a dealer surety bond cost annually in Florida?

Expect to pay $125–$375/year (0.5%–1.5% of $25,000). Florida dealers who bundle their surety bond with a business owners policy (BOP) often get premium discounts.

What happens if a Florida dealer doesn't have a surety bond?