New Jersey Used Motor Vehicle Dealer Bond
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What Is a New Jersey Auto Dealer Bond?
New Jersey Administrative Code requires used vehicle dealers to file a $10,000 surety bond as part of the license application. This bond ensures that dealerships comply with all New Jersey used vehicle sales laws.
There are three parties involved in the auto dealer bond contract:
- Principal: The auto dealer or dealership purchasing the bond
- Obligee: The New Jersey Motor Vehicle Commission requiring the bond
- Surety: The provider issuing the bond and financially backing the dealer
How Much Does It Cost to Get a Used Vehicle Dealer Bond in New Jersey?
New Jersey used motor vehicle dealer bonds cost $100 for all applicants. These bonds expire annually on March 31st, so your personal premium will be prorated based on the date of purchase. Click BUY NOW to get your bond in minutes:
If you have questions about your application, call 1 (800) 308-4358 to speak with a surety expert.
How Do You Get a New Jersey Auto Dealer Bond?
You can instantly purchase your New Jersey motor vehicle dealer bond online 24/7. All you need to do is provide the following information for New Jersey Motor Vehicle Commission approval:
- Dealer or dealership business name
- Dealership address
- Dealer license number, if available
Once you checkout, we’ll instantly email your official bond form.
Why Do NJ Used Car Dealers Need to Be Bonded?
New Jersey used motor vehicle dealer bonds protect consumers from dealership fraud. By filing a car dealer bond, individuals agree to operate their dealership according to state laws.
If an auto dealer breaks industry laws or regulations, harmed customers can file a claim to recover losses. The surety company will pay valid claims up to the full $10,000 bond amount, which the dealer must then reimburse.
How Do I Renew My Dealership Bond?
New Jersey auto dealer bonds expire annually on March 31st and must be renewed to maintain licensing status. Once you pay your SuretyBonds.com renewal invoice, we’ll email instructions to keep your bond active for the next term.
How Do I Become a Licensed Auto Dealer in New Jersey?
Follow our step-by-step guide on how to get a used auto dealer license in New Jersey. Then, submit all application documents and fees by mail to the following address:
New Jersey Motor Vehicle Commission
Business Licensing Services Bureau
P.O. Box 170
Trenton, NJ 08666-0170
For more information, visit the New Jersey New and Used Car Dealerships and Leasing Licenses page.
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
