These are your GOOD CREDIT PRICES for a New York Motor Vehicle Dealer Bond…
$140.00 for a 1 year $20,000 bond
$245.00 for a 2 year $20,000 bond
$700.00 for a 1 year $100,000 bond
$1,225.00 for a 2 year $100,000 bond
The $20,000 bond is mandated by the NY DMV for all New York auto dealers that sell 50 cars a year or less. If you sell 51 or more cars per year, you will need the $100,000 bond.
Vehicle and Traffic Law section 415(6-b) in New York requires that dealers, qualified dealers, and new motor vehicle dealers obtain and continue in effect a surety bond as a condition to obtaining a registration certificate (except those dealers who exclusively sell motor vehicles solely for conversion for use as tow trucks, buses, school buses, garbage trucks, marine trailers, tow trucks, motorcycles, recreational vehicles, snowmobiles, trailers, mobile homes, or construction equipment).
Bonds Express offers the most competitive rates on the market for these motor vehicle dealer bonds. For a free quote please click the link below and our industry-leading underwriters will begin work on your quote right away.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The New York Motor Vehicle Dealer Bond holds you accountable for your business decisions.
By possessing a New York Motor Vehicle Dealer Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.