California has some of the highest bail amounts in the United States and many people are often sticker shocked when they learn how much bail bonds cost. Even though the cost to purchase a bail bond is only 10% of the defendant’s full bail amount, this can still be a lot of money to come up with on very short notice.
Many people will try calling around from Santa Clara bail bonds company to company hoping to find the person who will give them the best deal. What they don’t realize is that purchasing a bond is not like buying a car.
The California bail industry is regulated by the California Department of Insurance and the DOI tells bondsmen what they are allowed to charge their clients. That rate is 10%. It is illegal for Santa Clara bail bonds companies to sell bonds for more or less than the legal rate.
Sometimes bondsmen will use deceptive marketing tactics to try to get people through the door. They may post signage that advertise cheap bail bonds or 5% bail bonds. People who are drawn to this soon find that the discounted rate actually refers to the amount of money they would need to put down in order to move forward with a payment plan.
On the other hand, if the bondsman is truly offering discount bail bonds this should be an enormous red flag. If a person is breaking the law in order to make a quick buck, can you be sure they will behave honestly when it comes to working with you?
Buying cheap discount bail bonds might save you a few dollars on the front end but they could wind up costing you a lot more down the road.