Apply today for your notary public surety bond, available through massbond for all 50 states
New Mexico Motor Vehicle Dealer Bond

Who needs a New Mexico Motor Vehicle Dealer Bond?

All licensed motor vehicle dealers are required to maintain a New Mexico Motor Vehicle Dealer Bond by the State of New Mexico Motor Vehicle Division. The bond is required as part of your dealer license application.


Why is the New Mexico Motor Vehicle Dealer Bond required?

The New Mexico 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 Mexico DMV Bond, Dealer Bond, Dealer License Bond, Car Dealer Bond or Auto Dealer Bond. While people use many names, they refer to the same bond. If you are a motor vehicle dealer in the state of New Mexico, this bond is required to obtain your license.


What bond amount is required for my business?

If you are a motorcycle dealer, then you are required to maintain a $12,500 bond. All other motor vehicle dealers that buy, sell or exchange more than 4 vehicles over the course of 1 year are required to maintain a $50,000 bond. The cost to you is only be a small percentage of the total bond amount.

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.