New Mexico Motor Vehicle Dealer or Dismantler Bond

New Mexico Motor Vehicle Dealer or Dismantler Bond

New Mexico MVD requires auto dealers and dismantlers to obtain surety bond to operate within the state.

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What is a New Mexico Motor Vehicle Dealer or Dismantler Bond ?

Many states in the U.S. require licensed auto dealers to obtain a surety bond as a part of their licensing requirements. New Mexico is one of those states.  The state requires all motor vehicle dealers and dismantlers renewing or applying for a license to carry a surety bond. The bond provides protection to the state, consumers, and others from illegal actions committed by dealers and dismantlers.

Get started by reaching out to one of our knowledgable agents or by filling out our online application.



How much will my New Mexico Motor Vehicle Dealer or Dismantler Bond cost?

Generally, these bonds are issued at 0.5% – 1% annually. However, an underwriter will need to review your application before offering terms. Rest assured that Bonding Solutions will be able to provide you with the best rate possible.

Bond amount:

Motor Vehicle Dealer or Dismantler Bond  – $50,000

Motor Vehicle Dealer or Dismantler Bond (for motorcycles only) – $12,500

Why is a New Mexico Motor Vehicle Dealer or Dismantler Bond required?

A surety bond assures the public, state, and other parties that a licensed dealer will adhere to state laws and licensing regulations. If someone is impacted by a bonded dealer/dismantler’s unethical behavior, they can claim their surety bond.

New Mexico dealer or dismantler bonds expire annually on March 31st when the license expires. The surety company can request cancelation by writing the MVD director. It must be in writing and the bond will cancel 30 days after the letter is received.

How do I get started?

Getting started is easy. begin by filling out our application. Accept quoted terms and pricing. Lastly, pay for your bond and we ship the bond the same day.

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Additional Resources

State of New Mexico Bond Form

State License Application

State MVD Forms and Resources

Surety Bond List

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Call us today to speak to a Surety Bond Specialist

(877) 841-6745