Motor Vehicle Dealer Surety Bonds for New Mexico
The New Mexico Vehicle Dealer Surety Bond is required by the State of New Mexico, Motor Vehicle Division, in the amount of $50,000. The bond states that you will comply with the provisions of Section 66 – 4 – 7, NMSA 1978 Comp, as amended, and all subsequent amendments.
Renewals are Due on March 31st, 2017!
This bond must be renewed by March 31st each year. Now is the time to shop for a better price and a more responsive bonding company.
Surety1 has access to the best surety markets available so we will be able to get you bonded quickly at the best possible price!
What is the Motor Vehicle Bond For?
The bond is to protect your clients from any harm or wrongdoing by your company. If there is a claim placed on your bond and you are found at fault, the surety company will pay out. However, unlike insurance, you will have to pay the surety company back.
How To Get a New Mexico Motor Vehicle Dealer Bond
1. Complete an online application.
2. One of our surety experts will call and email you with the firm quote and an agreement to sign.
3. Provide payment and your signed agreement, then you will receive your bond!