Same Price for Bond

[Mother Bond]

I'm starting up a used car dealership and the State is requiring me to get a bond. A friend of mine also owns a dealership... should I expect to pay the same amount that he did for his bond?

[Bond Magician]

Bond premiums always vary - depending on how the personal credit of the owner/owners is, if you are a new or existing business, etc. There are many factors that determine what your premium will be.

Ifyour friend paid $1000 for his bond, that doesn't mean that you will also pay $1000. The premium will vary for each applicant.

Hope this helps...