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New York Motor Vehicle Dealer Bond

How much will my New York motor vehicle dealer bond cost?

Whether you are applying as a new or used retail or wholesale motor vehicle dealer, you must purchase a surety bond before your license will be issued. The amount of your bond is based on the amount of vehicles sold in last calendar year:

All dealer bonds are subject to underwriting, meaning that an underwriter will determine the cost of your bond by reviewing your financial credentials. It is also important to have your facility number at hand when contacting a surety specialist.

Are you an automobile broker in need of a bond? Visit our New York automobile broker bond page for more information.

Bond Type Bond Amount Cost*
$20,000 Used Motor Vehicle Dealer Bond 50 or fewer vehicles sold $20,000 Starts at $180 Apply Now
$100,000 Used Motor Vehicle Dealer Bond 51 or more vehicles sold $100,000 Starts at $900 Apply Now
$50,000 New Motor Vehicle Dealer Bond $50,000 Starts at $500 Apply Now

Why are motor vehicle dealers bonded?

By posting a bond, the principal (dealer) guarantees to conduct business in full compliance with the Vehicle and Traffic Law section 415(6-b). The following are examples of vehicle dealer responsibilities:

  • paying all valid bank drafts
  • transferring good titles to each sold vehicle
  • maintaining all customer deposits
  • paying all fines imposed by the Commissioner of Motor Vehicles
  • repaying any overcharges of a customer

Apply for your bond today! Send a bond request and one of our bonding experts will contact you within one business day.

What’s the fine print?

Motor vehicle dealer bonds are issued to run continuously until canceled. If the surety chooses to cancel a bond, a written cancellation notice must be mailed to the Commissioner of Motor Vehicles 60 days prior to the proposed cancellation date.

How to become a motor vehicle dealer in New York

Both new and used motor vehicle licensees must complete the original facility application (Form VS-1) and send it to the Department of Motor Vehicles. Each application must be accompanied by the following documents:

  • surety bond (Form VS-3)
  • application and business fees
  • MV-50 fees
  • Certificate of Authority (NYS Department of Taxation and Finance DTF-17A)
  • business location documents

Please note this page is for vehicle dealer licensing. If you have lost or need to obtain a vehicle title, a New York certificate of title bond is required.

Ready to get started?

Get a FREE Vehicle Dealer Bond Quote Today!

Additional Resources

Department of Motor Vehicles - Dealer Surety Bond

Assembly Bill 8166

General Information for Dealers and Transporters

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