If you’re thinking of opening a motor vehicle dealership in the state of New York, look no further!
Steps to open your Motor Vehicle Dealership in the State of New York:
1)Consult the New York DMV site to confirm current requirements for opening a dealership in your desired area. You will need to review the CR-78, found HERE .
2) You will next need to satisfy the Facility Requirements for Dealers (VS-142) found HERE .
3) Next, you will need to submit an Original Facility Application to the DMV. That application is simply found on the DMV Site.
4) Your application must have an original signed and sealed copy of a Surety Bond from a specialty insurance group, such as Surety1, to turn into the New York DMV. You may apply for your bond with Surety1 Online Today.
What is the purpose of a Motor Vehicle Surety Bond?
& How to Get Bonded
If you want to be an auto dealer, you must get bonded. Motor Vehicle Dealer bonds help regulate the market of motor vehicle dealers under state regulation. These bonds protect against fraud or misconduct on behalf of your business and employees and guarantee the moral compliance of your business. In short, bonds function to protect both the state of New York and the customer of your business. Your surety bond ensures that the business will follow the laws of ethical business.
Much like other surety bonds that Surety1 offers, auto dealer bonds help create a market that the customer can trust. This will reflect well on your business, too; customers will be drawn to the comforting feeling of shopping with a responsible dealer.
You can apply for your dealer bond required by the state by visiting our application page and we will streamline the bonding process for you, making getting a bond the easiest part of opening your business. After submitting the application on our website, you will receive a quote in your email as well as a phone call from one of our helpful agents. If you like the premium we quote you, we can issue your bond and send a signed and sealed copy directly to you either by overnight shipping or priority mail. Once you submit the official bond to the New York DMV, you will be ready to open your dealership and start selling!