New York - NY Dealer Bond - MVD
We are a leading writer of the Motor Vehicle Dealer Bond in New York.
Special 2-yr premium of only $225 on $20,000 dealer bonds.
**Effective March 28, 2017, all used New York (NY) Motor Vehicle Dealers will now be required to post either a $20,000 bond or a $100,000 surety bond.**
New York State Vehicle and Traffic law, Section 415 now increased the required bond amount of both new used vehicle dealers and existing dealers. The new NY dealer bond amounts are:
$20,000 - Required by retail or wholesale used motor vehicle dealers that sold 50 or less vehicles in the prior calendar year
$100,000 - Required by retail or wholesale used motor vehicle dealers that sold more than 50 vehicles in the prior calendar year Learn more about the new surety bond legislation that was passed here.
The surety bond amount remains unchanged for the new motor vehicle dealers.
New York Motor Vehicle Dealer Bonds are required by the New York Department of Motor Vehicles. The state requires that Form VS-3 Dealer Bond be used. The NY dealer bond amounts are as follows:
$50,000 - Retail Motor Vehicle Dealer Bond, New (franchised passenger cars, SUVs, etc),
$25,000 - Retail or Wholesale Used Motor Vehicle Dealer Bond, for dealers that sold more than 200 vehicles in the last calendar year,
$10,000 - Retail or Wholesale Used Motor Vehicle Dealer Bond, for dealers that sold less than 200 cars in the last calendar year
Special 2-YEAR premium of only $225 on the $20,000 dealer bond for applicants with good credit . Larger dealer bonds are priced at $9 per thousand. Most applicants with good credit will qualify for the NY dealer bond rate indicated. In order to receive your specific quote, we must review your qualifications to determine the lowest possible price. If you have already been declined or nonrenewed by another Surety Company, chances are you will not qualify for this preferred rate.
We have various sureties willing to write New York dealer bonds for applicants with less than perfect credit, including a special program with very competitive prices for those with just a few credit blemishes.
We find the best possible price for your NY dealer bond given your particular qualifications.
Additional information about this dealer bond requirement is as follows:
Obligee - New York Department of Motor Vehicles
Bond Amount - Starts at $20,000
Bond Premium - Varies
Renewal Document - None.
You are applying for a NY Motor Vehicle Dealer Bond.
A free quote will be emailed to you within minutes!