Home  New Mexico Bonds  New Mexico Motor Vehicle Dealer Bond

New Mexico Motor Vehicle, Motorcycle or Auto Recycler Bond

A New Mexico Motor Vehicle Dealer shakes hands with customers

Apply Online


Or call 844-432-6637

If you are a Vehicle Dealer, Motorcycle Dealer or Auto Recycler in New Mexico, you need to apply for a license through the New Mexico Motor Vehicle Division and obtain a Vehicle Dealer, Auto Recycler or Motorcycle Dealer Surety Bond. Licenses are required for retail dealers, wholesaler dealers, manufacturers and auto recyclers. Dealers include new and used car and truck dealers (auto dealers), boat dealers, ATV dealers, motorcycle dealers, trailer dealers, snowmobile dealers, jet ski dealers and recreational vehicle dealers.

Surety Bond and License Requirements:

  1. Dealer applicants will need to obtain an application from the State of New Mexico Motor Vehicle Division.
  2. Complete the application and payment of the license fee.
  3. Dealers or recyclers must have an established business location.
  4. Post signage with any dba or trade name.
  5. Have a display or lot area
  6. Have an enclosed building on a permanent foundation that meets zoning requirements.
  7. and an office space to store and maintain books and records (records must be kept for three years).
  8. Applicants must obtain a $50,000 surety bond for vehicle dealers.
  9. Auto recyclers or motorcycle dealers will need to obtain a $12,500 surety bond.
  10. License and bond will need to be renewed by March 31 of each year.

How Much Will This Bond Cost?

The premium that you pay for a New Mexico Vehicle or Motorcycle Dealer or Auto Recycler Surety Bond is dependent on credit and the bond amount required.

More Surety Bond Questions?

Check out our FAQ page. Should you need or choose to buy a surety bond, SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

DownloadApplication

For a downloadable application