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New Jersey Motor Vehicle Dealer Bond

Bond Requirements and Online Application

Motor vehicle dealers are required to post a Motor Vehicle Dealer Bond as part of the process to license the dealership. The amount of the bond depends on what type of vehicles are to be sold, the amount of vehicles you plan to sell, and other factors. Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.

motor vehicle dealer bond

Surety Bond

  • Required by: New Jersey Motor Vehicle Commission
  • Minimum Bond Amount: $10,000
  • Maximum Bond Amount: Varies
  • Valid: 1 year – Expires March 31st – Renewable

This bond guarantees the principal will abide by all New Jersey state laws and regulations along with the laws outlined in N.J.S.A. 56:8-1 et seq.

The price for the bond, also known as the bond premium, is only a small fraction of the bond amount.

The applicant should verify the bond amount with the obligee before applying for the bond to ensure the bond amount is correct.

Since this bond expires annually on March 31st, the principal must renew the bond before March 31st. This is required by the obligee, not the surety company.

If the bond is cancelled, the Director of the Motor Vehicle Commission must be notified of the cancellation at least 30 days before the cancellation date.

Licensing

Surety1 is not directly involved with the licensing process, but we’ve compiled this information which may helpful for you.

State licensing fees and requirements:

  • Surety bond
  • License application
  • Supporting application documents
  • $100 license fee
  • Proof of insurance
  • Fingerprint request notification form
  • Business hours schedule
  • Copy of incorporation/ formation documents
  • Driver license copy for each owner, officer, member, and partner

All licensing fees are required by the obligee, not the surety company.

For additional licensing information, visit New Jersey’s official site.

 

How to Get Your New Jersey Motor Vehicle Dealer Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your New Jersey Motor Vehicle Dealer Bond!   If you have any questions, please call us at 877-654-2327.
HOW TO GET BONDED
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days

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