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).
New York Motor Vehicle Dealer Surety Bonds are required by the New York Department of Motor Vehicles. The bonds purpose is to protect the consumer from any wrongdoing by the dealer.
There are 3 different bond requirements: 1. NY used motor vehicle dealers who sell less than 200 cars per year require a 10,000 dollar bond. 2. NY used motor vehicle dealers who sell more than 200 cars per year require a 25,000 dollar bond. 3. NY new motor vehicle dealers require a 50,000 dollar bond.
Same day approvals, and no personal financial statement, indemnity agreement! Spousal signature may be required!
Is your credit score 600 or higher? Then you are probably eligible for this low rate program.
Bond amount $10,000 =$175 for 2 years. Bond amount $25,000= $400 for 2 years. Bond amount $50,000= $800 for 2 years.
Problem programs are available with on installment payments.
Bad credit? No problem.
If you have been turned down for surety bonds due to bad credit, financials or other problems in the past, we have a special installment program available.
Get Your Bond Price Within 1 Hour!
Most License and Permit Bonds have 1 hour responses during business hours:
1. This application is all that’s needed to get you a price within 1 hour.
2. Occasionally, more information is needed. If so, you’ll be contacted within 24 hours.
3. If you have credit issues, approvals might need additional time.
4. We never require an application fee. All quotes are always 100% free.
Your lowest bond price is calculated from the information you provide on the application. Keep your cost low by filling out this application completely.
Bond approvals, like loans, are based upon several factors: personal credit and financial strength of the owner(s), liens or judgments, bankruptcies, length of time in business, bond amount and type of bond. The more information you provide the better chance you have of getting the lowest available price and a faster approval.
Complete our fast and easy online application by clicking the link below. Most will receive a free quote within 1 hour.