what is a car dealer bond exactly ???

DMV Motor Vehicle Dealer Bond

Bond Amount

$50,000

Requiring Entity

State of California Department of Motor Vehicles

Underwriting Criteria

Personal credit check and personal financial statements for all business owners

Who is Required to Secure this Bond

Under California Vehicle Code 11710 (CVC 11710) all applicants for a dealer or remanufacturer license are required to procure and file a bond with the Department of Motor Vehicles. The bond must be executed by an admitted surety, as approved to by the Attorney General. The dealer bond must be in the amount of $50,000, unless the dealer deals exclusively in motorcycles or all-terrain vehicles and wholesale dealers who sell fewer than 25 cars per year (CVC 11710.1)

Bond Requirement Specifics

Under California Vehicle Code 11710 (CVC 11710) all applicants for a dealer or remanufacturer license are required to procure and file a bond with the Department of Motor Vehicles. The bond must be executed by an admitted surety, as approved to by the Attorney General. The dealer bond must be in the amount of $50,000, unless the dealer deals exclusively in motorcycles or all-terrain vehicles and wholesale dealers who sell fewer than 25 cars per year (CVC 11710.1) The liability of the bond must remain at full value at all times. If the bond amount is decreased or if there is an outstanding court judgment again the dealer, remanufacturer or surety, the license will be automatically suspended. In order to reinstate the license, the licensee must file an additional bond or restore the bond to the original amount, or terminate the outstanding judgment or which the dealer, remanufacturer or sureties are liable (CVC 11710).

Who is protected Under this Bond

Purchaser, sellers, financing agencies or governmental agencies in the State of California are entitled to make a claim against the dealer’s surety bond should the dealer act in violation of the California Vehicle Code. Upon validation of the claim, the beneficiary is entitled to monetary damages which the surety bond would cover. The bond guarantees that individuals granted a license or permit to operate a business or to exercise a privilege will meet the obligations under that license or permit.

Underwriting Process

Each applicant must first complete and submit the application for a Motor Vehicle Dealer, which contains all of the pertinent information regarding the business and business owners. Upon receipt of the application, our agency will be able to provide a response as to rate and approval for the Motor Vehicle Dealer bond within one business day. Once the application is approved, the bond will be executed and released to the applicant upon receipt of payment.

What you Need to do Once you have your Bond

Once the Motor Vehicle Dealer bond has been approved and released to the applicant’s care, it must be filed with the Department of Motor Vehicles along with the licensing paperwork. The Department of Motor Vehicles will maintain the bond, which must remain effective at all times to prevent any suspension of the Motor Vehicle Dealer license.

Obligee Link

http://www.dmv.ca.gov/vehindustry/ol/olbranch_top.htm 

Licensed Auto Broker Training

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Autobroker s Endorsement

An autobroker’s endorsement requires payment of fees as required by subdivision (d) of Section 9262 of the California Vehicle Code.

A dealer may not engage in brokering a retail sales transaction without having an autobroker’s endorsement to their dealer’s license.

Upon issuance of an autobroker’s endorsement to a dealer’s license, the department shall furnish the dealer with an autobroker’s log.  The autobroker’s log remains the property of the department and may be taken at any time for inspection.

The autobroker’s log must contain the following information with respect to each retail sale brokered by that dealer:

  • Vehicle identification number of brokered vehicle
  • Date of brokering agreement
  • Selling dealer’s name, address, and dealer number
  • Name of consumer
  • Brokering dealer’s name, address, and dealer number (CVC Section 11735)

A dealer who brokers a motor vehicle sale shall deposit directly into a trust account any purchase money, including purchase deposits, it receives from a consumer or a consumer’s lender.

  • All trust accounts required by CVC Section 11737 shall be maintained at a branch of a bank, savings and loan association, or credit union regulated by the state or the government of the United States.

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is your dealer license up for renewal ??? time to be careful

bondpotofgold

 

some bond agents let their clients get arrested

some bond agents get arrested themselves

some bond agents overcharge

+++++

go to a bond agent

that will stand up for you

appreciates your business

and will never get you arrested

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your car dealer bond

is a pot of gold

held for the government

to pay unpaid sales taxes

to pay unpaid registration fees

to pay any certified court orders

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Call Mike today

714-797-5780

Bond Application Online

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redstar

stay away from bond agents who get arrested

bondpotofgold

 

some bond agents let their clients get arrested

some bond agents get arrested themselves

some bond agents overcharge

+++++

go to a bond agent

that will stand up for you

appreciates your business

and will never get you arrested

+++

your car dealer bond

is a pot of gold

held for the government

to pay unpaid sales taxes

to pay unpaid registration fees

to pay any certified court orders

+++

Call Mike today

714-797-5780

Bond Application Online

got1

orange county dmv certified car dealer license training

dmv requires a training class to take your car dealer license examination

dmv requires you pass a 40 question exam to submit your car dealer license application

we teach the required dmv license certification class in more places than anyone else

find out why our competition struggles to match our offer

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could it be better pricing??

could it be our dedication to customer service??

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visit our website to see our entire class schedule

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nancy is our car dealer license instructor in anaheim

714-401-2454

we have a class in anaheim every month

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sony is our car dealer license instructor in garden grove

714-677-0843

we have a class in garden grove every month

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good luck with getting your car dealer license

redstar

 

the question for @beepi becomes how far can we stretch the dmv rulebook with disruptive technology ??

WHAT’S BEEPI:

Beepi is the disruptive force that’s resuscitating a broken used car industry! It’s an online

platform that connects buyers and sellers in an organized, efficient and safe environment.

Sellers list their cars, and once they pass our comprehensive 185-point inspection and

become Beepi-certified, they are made available to buyers. Beepi then delivers cars straight

to buyers’ front doors, providing them with a transparent, and fun experience!

WHY BEEPI:

Beepi is a rocket ship bound for the moon that’s already started the launch count-down.

Thanks to our stellar team and the support of our venture-partners, we have all the tools we

need to make a huge splash, and we’d like you to join. We’re a group of fun, young, creative

team players who celebrate a job well done and push the boundaries of innovation. If you

think you’ve got what it takes to become an agent of change and to manage the operations

of a consumer-facing company experiencing hyper-growth, this role just might be for you!

OUR MISSION:

To create a revolutionary used car economy, empower people to transact with ease,

freedom, confidence, and with no intermediaries. We have no doubt that we have the recipe

to create an awesome experience for the customer AND employee is through bringing

together high performing professionals who share the same vision! Be warned, we’re

bringing together a dedicated team that’s willing to put it all on the line to succeed. 9-5ers

need not apply.

Job Description

We’re a technology company with data leaking out our ears, and no one to examine it! That’s why we need you, intrepid number-master, who can sift through voluminous tables and turn them into tack-sharp insights and actionable recommendations. At Beepi, you’ll examine call records, website traffic, user experiences, advertisement performance, social media presence, unit economics, market conditions in the used car industry, and more.

RESPONSIBILITIES

  • Gather, record, and sort all incoming data that can be used to improve Beepi’s product, customer experience, and performance
  • Provide regular presentations of this data to the company in a way that provides actionable insight
  • Build systems to gather data on all aspects of Beepi’s operations where current systems are inefficient. For example, finding new and seamless ways to record and qualify call volume.
  • Pursue new practices and software options to maintain tight control of data as Beepi experiences hyper-growth.

This position reports to the VP of Digital Growth and will be involved in a variety of projects to nurture Beepi’s data-driven nature.

Qualifications

REQUIREMENTS:

  • Must have applicable degree from accredited 4-year higher education institution (Computer science or electrical engineering majors are preferred)
  • Strong experience in Data Warehouse/Hadoop and Business Intelligence application development
  • Good programming skills
  • Experience in accessing external APIs and/or building APIs
  • Must be an SQL master!
  • Must have a minimum of 2 years working in Data Analysis
  • Must be Passionate about the disruption of the current automotive industry
  • Must have sharp attention to detail
  • Must have Boundless Energy
  • Must work well with others and understand what it means to be a team player.

Additional Information

BENEFITS:

• Live the startup dream in the heart of Silicon Valley

• Work with an astonishing team who will fight beside you in the trenches to

accomplish the amazing

• Super-Competitive Salary

• 100% Health, Dental, Vision coverage for you and 90% for your family

• Weekly team “happy hours” :)

PRESS COVERAGE:

•http://www.sfgate.com/technology/article/Beepi-offers-a-new-way-to-buy-sell-used-cars-5408268.php

•http://www.huffingtonpost.com/adam-hanft/finally-someone-is-sendin_b_5382730.html

•http://techcrunch.com/2014/04/15/beepi-5m-redpoint/

california dmv requires a retail license to sell to the public

renting car dealer plates is illegal

charging you a monthly fee for auction access is illegal

operating in california on an out of state dealer license is illegal

the only way to be truly legal in california is to attend

#realcardealerschool

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DLR license 35862

DMV list of car dealer school providers as of 2014

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if you are looking for real unrestricted car dealer auction access

you need our car dealer class

you need a current car dealer bond

you need a current DMV LiveScan fingerprint card

you need a current DMV Property Use Verification

you need a temporary car dealer license from your DMV Inspector

you need a completed licensed car dealer Auction Access Application

you will need car dealer insurance and dealer plates to leave the auction

once you make your first car dealer auction purchase

go with the leader in california DMV certified car dealer licensing education

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classes offered in more cities than all other providers combined

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redstar

carwoo tommy tells his story

BY 

Some startups just aren’t built to last. But CarWoo might have survived had it found a way to keep up with customer demand.

 Startups come and go all the time, but hope springs eternal that yours will last. When it doesn’t, the pain can be soul-crushing, sending you into a downward spiral.

That’s how Tommy McClung, CarWoo’s co-founder and chief executive, felt last week when had to announce the three-year-old startup he had toiled on day and night was on its way to going belly-up. Within a few weeks, TrueCar, a competitor in the online car-buying space, would bail it out with an acquisition. 

CarWoo’s failure serves as an example of how things can go wrong at a startup even if it has a promising trajectory. It wasn’t as though CarWoo had no traction–its site solved a real pain point for shoppers who wanted a deal–but the company needed more funding than the $16 million it had in the bank.

“Our space is extremely capital-intensive,” McClung said by phone from Silicon Valley. “As a group, we really had three options on the table: First, to raise another round of funding; second, to sell the company; and third, to shut it down. We obviously pursued all those avenues.”

McClung realized things were going downhill about a year and a half ago, when CarWoo began having problems keeping up with demand. “We had navigated that well in the first [year],” he said, because “we didn’t focus on revenue that much. We made a decision as a team to just focus on growing the marketplace.”

But the site, which had been free to use initially, was moving to a paid model and the founders weren’t prepared. “It took us a good six, seven months to figure everything out,” McClung says. “It was clear we were going to need $50 to $100 million.”

And that was just the beginning. Customer acquisition required more time and money than the company had, McClung says. CarWoo also needed find a dealer network to supply enough cars to meet demand.

For most of 2013, he worked on the latter with strategic partners and investors, but like a lot of things happening with CarWoo, the deals  fell through. Eventually, he says, “We had to do what we had to do. A lot of people will say, ‘Oh, it was just one thing.’ [For us], it was a series of events in which we realized it was going to be [too] expensive.”

McClung remembers the exact moment when he decided to close down CarWoo. “I told my VC and he was supportive,” he says. “Ultimately at the end those are the kind of investors you should have, the kind that are going to be supportive with you up until the final decision is made.”

Fortunately, there was also lot of friendly competition in the space and TrueCar, CarWoo’s biggest rival, was amenable to the idea of an acquisition. “The other competitors have been around 10 to 15 years,” says McClung, but they weren’t technologically advanced enough to suit CarWoo’s taste. “They were doing classifieds,” he says.

In his heart of hearts, “seeing the success TrueCar was having and how it aligned with the vision we had–it was a pretty obvious decision,” says McClung. “Other opportunitites could have been good, but none of them would have put us in a spot where we were working with people who wanted to accomplish the mission we were on.”

Although aligning with a competitor might sound like the ultimate show of defeat, McClung has found working with TrueCar to be quite liberating. “They’ve been extremely welcoming,” he said, noting the party thrown for his employees on the day they arrived. “All around the table, eveyone believes that this is going to be a good thing going forward.”

JILL KRASNY is the associate editor of Inc.com. Her work has appeared in Esquire, MTV,Mashable, and elsewhere.
@jillkrasny

fleet buyers get licensed with gotplates.com

If you are a multiple car business like a:
car rental service
delivery service
large contractor
fleet service
etc…

GotPlates.com

You can obtain auction access and avoid the dealer markup by obtaining your dealer license.

If you are buying more than three vehicles a year
you may find it to be a very good move to get your dealer license and benefit from lower car prices,
better cars to choose from and ease of transactions.
Becoming a dealer also allows you better resale prices at disposal.
So why not, – buy at wholesale – sell at retail – and use the vehicles in you own business.
We are your first step in obtaining your dealer license.
We will teach you the ins and outs of becoming a dealer and
provide you with the certificate you need to present to the CA DMV.
Contact us today at: 1.800.901.5950 or admin@gotplates.com
redstar

yes john…we are always available for private car dealer education

hello john

we teach private classes
for $ 300. per person
we have weekly availability statewide

if we come to your office
we would have to charge more ( $ 800. )
and we can certify up to three people for that fee

also, if you offer financing and need the
red flags program
we can set you up with that as well
our discounted price for the red flags is $ 300.

red flag deadline was 01-01-11

do you have any other owners needing certification?

if this is a corporate change of ownership
dmv generally requires all owners above 10% ownership to take the class
and pass the dmv examination

also, all significant others should be included if they are going to be driving
dealer plated inventory

please let us know what works for you
and how soon you want the private car dealer license class

my cell is 415-730-3131

thx

Joseph
gotplates.com

800-901-5950