How much does a $25,000 motor vehicle dealer bond cost in New Hampshire?
The New Hampshire Department of Safety Director of the Division of Motor Vehicles requires auto dealers to post a surety bond to legally conduct work within the state. These bonds are subject to underwriting, which means the price you pay for your bond is based on a review of your personal credit report. For this particular bond, qualified applicants can expect to pay around $187 for their New Hampshire car dealer bond.
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|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Motor Vehicle Dealer Bond||$25,000||Starts at $187||$250-2,000||$1,250+||Apply Now|
Give us a call at 1 (800) 308-4358 or submit a bond request now. Our experts will walk you through each step of our fast and easy bonding process!
Why do I need this bond?
New Hampshire vehicle dealer’s bonds are put in place to ensure that vehicle dealers perform their obligations to purchasers or other parties who suffer a loss as defined by the New Hampshire Revised Statutes Annotated 261:98. Auto “dealers” are defined by Revised Statutes Annotated RSA 259.89A, RSA 259:6-a, RSA 261:123 and RSA 259:121.
Let our surety experts take care of all of your bonding needs. Call 1 (800) 308-4358 or fill out our online bond request form to start getting bonded today!
What’s the fine print?
New Hampshire vehicle dealer bonds remain valid for a 1-year term, expiring on the date listed on the bond form. However, the bond can be continued year-to-year with a continuation certificate.
The surety can cancel the bond at any time by giving written cancellation notice to the Director of the Division of Motor Vehicles and the dealer 60 days prior to such cancellation.
Applicants should be prepared to disclose what type of vehicles they sell, as most surety underwriting companies require this information to produce these bonds.
How to become a motor vehicle dealer in New Hampshire
To apply for licensure as a motor vehicle dealer in New Hampshire, applicants must submit the following materials:
- $125 license fee
- $25,000 surety bond
- written approval from state and local authorities
- proof of an established place of business
- regular business hours (must be 37.5 hours per week)
- original criminal background check
- original service agreement
All licenses will expire annually on March 31.
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