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New Jersey Used Motor Vehicle Dealer Bond

What to do before purchasing this bond?

Dealers need to apply for preliminary license approval before purchasing a surety bond. After you receive preliminary notice of approval, then you will need to purchase the bond and submit the original document (copies are not accepted) to Motor Vehicle Commission.


Who needs a New Jersey Used Motor Vehicle Dealer Bond?

All licensed used car dealers are required to maintain a New Jersey Used Motor Vehicle Dealer Bond by the State of New Jersey. The bond is required as part of your dealer license application.


Why is the New Jersey Used Motor Vehicle Dealer Bond required?

The New Jersey Used Motor Vehicle Dealer Bond helps ensure that dealers conduct business ethically and lawfully.


How do I know this is the required bond for my business?

You may have heard this bond referred to as a New Jersey Used Car Dealer Bond or DMV Surety Bond. While people use many names, they refer to the same bond. If you are a used car dealer in the State of New Jersey, this bond is required to obtain and maintain your license.

General Questions
What is a surety bond? 
What is a surety bond?

A surety bond is a three-party agreement among a principal, an obligee, and a surety.

The bond formalizes the principal's obligation to the obligee. The surety guarantees that the principal will fulfill their obligation.