New York Motor Vehicle Dealer Surety Bond – MVD
The New York auto dealer bond is a surety bond that must be obtained by auto dealers in the state of New York who sell used or new motor vehicles. It is required by the New York State Department of Motor Vehicles (DMV) during the car dealership licensing process. The auto dealer bond works as a financial guarantee that auto dealers in the state will comply with state regulations pertaining to their business license.
Additional information about this dealer bond requirement is as follows:
Obligee – New York Department of Motor Vehicles
Bond Amount – $20,000 for dealers who sell up to 50 vehicles annually, $100,000 for dealers who sell more than 50 vehicles annually, $50,000 for Franchises, dealers of larger vehicles (SUVs, light trucks, etc)
Bond Cost – $20,000 bond starts at $200.00, $100,000 bond starts at $1,000, $50,000 bond starts at $500
Renewal Document – None
Click on the START MY APPLICATION button to complete our simple, online bonding application. Completing our application allows the underwriters at our office to provide you with a specific quote for the exact bond you need. After you submit our online application, we will respond and get the process going immediately!
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