New York Motor Vehicle Dealer Bond - #1 Surety Agency for MVD Bonds

New York Motor Vehicle Dealer Bond

Motor Vehicle Dealer Bonds are required by the New York State Department of Motor Vehicles (DMV) to operate legally as a licensed dealer in the State of New York.

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Why work with Bonding Solutions? Simple! We are different!

We are a surety only agency that thrives on creating an unbeatable client experience! Our industry leading bond volume allows us to create programs that can be tailored to each individual client, getting them their bond faster at the cheapest cost! Below are a few reasons our clients love to work with us:

  • #1 Rated Bond Agency Nationwide
  • Find the Lowest Bond Costs in Minutes
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What is a New York Motor Vehicle Dealer Bond?

Motor vehicle dealer bonds in the state of New York are mandatory to operate legally as a dealer. This auto dealer bond, similar to other surety bonds, acts as an agreement between three separate parties the vehicle dealer (principal), the New York State Department of Motor Vehicles (obligee), and the surety company. This bond is to protect the consumer, state, and others financially from any fraud or illegal business activities that a dealer may commit.

Looking to buy your bond? Get your quote now.


How much will New York Auto Dealer Bond Cost?

Bonding Solutions has helped clients and agents for over 20 years. Our proprietary programs have helped auto dealers receive industry-low pricing on their bonds.

The cost of your bond depends on industry experience and the applicant’s personal credit. The applicant is not required to pay the full bond amount but only a percentage based on their credit. Typically rates range from 0.5% to 8% of the full bond amount. New York vehicle dealer bonds pricing is below:

  • $20,000 – Used Motor Vehicle Dealer (Sells 0-50 vehicles annually)
  • $100,000 – Used Motor Vehicle Dealer (Sells 50+ vehicles annually) 
  • $50,000- Franchises, dealers of larger vehicles (SUVs, light trucks, etc)

Why is New York Motor Vehicle Dealer Bond Required?

Surety bonds are required by the state to ensure buyers’ safety. In the event any fraudulent or illegal business activity takes place, a claim can be made against the dealer’s surety bond. The operating vehicle dealer in the state of New York must conduct business according to NY’s licensing statutes and applicable laws. 


How do I get started?

Obtaining a motor vehicle dealer bond can seem complicated, but Bonding Solutions makes the process simple. Start with filling out our online application or call us. After we receive your information, we will send you a quote on your requested bond. Once you pay for your bond we email and ship it to you the same day.


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Additional Resources

New York DMV: Dealer Surety Bond

State of New York Motor Vehicles Chapter 342 L

New York DMV: Information for Auto Dealers

Surety Bond List

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