In the state of New Jersey, anyone who sells or deals in motor vehicles must obtain a New Jersey Motor Vehicle Dealer Bond. This is a $10,000 type of surety bond required by the New Jersey Motor Vehicle Commission (MVC) to protect consumers from financial losses that may result from the dealer’s wrongful acts or omissions.
How to Get a New Jersey Motor Vehicle Dealer Bond
At Surety1.com we make it easy to obtain your surety bond with a simple 3 step process:
- Complete our easy to navigate and secure online application.
- Review your free, no obligation quote, usually within one business day from one of our surety bond professional agents.
- Sign some paperwork and make payment
Once these steps have been completed, the New Jersey Motor Vehicle Dealer Bond will be sent to you for signature prior to submitting to the New Jersey Motor Vehicle Commission. An original $10,000.00 Surety Bond (Copies not acceptable) must be submitted. The cost of the surety bond is usually between 1% and 3% of the bond amount, subject to a minimum premium and fees of $150 to$250. Surety1 will shop its many markets to procure the right price at the right terms.
Surety1.com is a service of AssuredPartners one of the largest and fastest growing insurance agencies in the nation. Representing over a dozen surety bond companies, Surety1.com is the premier online provider of surety bonds nationwide since 2003.
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How to Get a New Jersey Motor Vehicle Dealer License
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:
- New Jersey Motor Vehicle Dealer 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
For additional licensing information, visit New Jersey’s official site.
Read our Car Dealer License Guide to learn more about how to get your dealership licensed and bonded.
How to Get Your New Jersey Motor Vehicle Dealer Bond
- Complete an online application. It’s free and no-obligation.
- One of our surety experts will contact you with a firm quote and an agreement to sign.
- Provide payment and your signed agreement, and then you will receive your Surety Bond!
If you have any questions, please call us at 877-654-2327.
Surety1 was founded in 2003 and helps thousands of clients find the best prices on their surety bonds. We take pride in our work so that we can give you great service. Learn more about Surety1.