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Does A New Jersey Motor Vehicle Dealer Have A Bond Requirement?

A New Jersey Motor Vehicle Dealer shakes hands with a customer

If you are a New Jersey Motor Vehicle Dealer, you need to apply for a license through the New Jersey Motor Vehicle Commission and obtain a Vehicle Dealer Surety Bond in the amount of $10,000 . Vehicle dealers include: New and used car dealerships (also known as auto dealers) or motor vehicle dealers, leasing companies or dealerships, boat dealers, moped dealers.

The application process is as follows:

Complete the license application (and supplemental application if applicable) and obtain prliminary State approval before paying any fees.

Provide photo's and site plans of the proposed business premises and signage and complete the Dealer Certification of Licensed Location Type and Proper Walls.

Complete the Child Support Certification and the Fingerprint Notification Form, provide a copy of the owner(s) drivers license(s) and include a passport size photo of each owner, copy of the business deed or lease, complete the Business Hours Form and Dealer Certification Signature Card, provide a copy of the installation for business phone or a phone bill.

Complete the Municipal Approval Certificate for Business License for zoning approval.

If applicable, provide formation documents and/or Fictitious Name Filing Certificate (for dba or trade name).

Provide a federal EIN Registration Certificate and a NJ Certificate of Authority for Sales Tax.

Upon preliminary approval from the State, pay the applicable license and license plate fees, obtain a $10,000 surety bond, and provide proof of liability insurance with minimum coverage amounts of $100,000 per person/incident, $250,000 per incident for death or bodily injury, and $25,000 per incident property damage, and $250,000 combined personal injury and property damage.

How Much Will This Bond Cost?

The premium that you pay for a New Jersey Motor Vehicle Dealer License Bond is dependent on credit and experience in the vehicle industry.

SuretyGroup.com is here to help you with your bonding needs.

We have been underwriting surety bonds for over 35 years, and we offer bonds for individuals and businesses of every size.

Our team of experienced surety specialists and in-house underwriting authority gives us a unique advantage over other surety companies. We are able to offer competitive, low rates, quick approvals and immediate bond delivery. In most cases we can approve your application today and deliver your bond tomorrow.

Have Questions?

Contact our Surety Bond Specialists at:

Phone: 1‑844‑432‑6637
Emailinfo@suretygroup.com
Fax:     404-351-3237
Hours: 8:00-5:00 CST, Monday through Friday



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