Surety bonds • New Jersey
New Jersey Auto Dealer Bond: $10,000 MVC Requirement and Cost
New Jersey requires new and used motor vehicle dealers to file a $10,000 surety bond in favor of the State of New Jersey with their Motor Vehicle Commission license application. The original bond is required, and it must not expire before March 31 of the year the license expires. Published prices start around $100 a year.
This guide covers the bond, other MVC dealer license requirements, and costs. Blake Insurance Group is an independent agency, and a licensed agent can help with your bond and dealer insurance.
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Tell us whether you are a new or used dealer, and a licensed agent will follow up. Submitting the form does not bind coverage.
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The $10,000 dealer bond
The NJ Motor Vehicle Commission dealer requirements require a surety bond in favor of the State of New Jersey in the amount of $10,000, from a surety authorized in New Jersey. The bond must not expire until March 31 of the year the license expires, and the original bond is required.
Other MVC dealer license requirements
- Premises: a permanent exterior sign (no banners), a separate display area for at least two vehicles, and zoning compliance.
- Office: furniture, a file cabinet, a fixed safe, climate control, and a working telephone.
- Hours: at least 48 hours a week between 9:00 a.m. and 5:00 p.m., Monday through Saturday, or at least 20 hours a week with a posted schedule.
- Insurance on owned or fleet vehicles, with a 30-day cancellation clause.
- Fees: a $100 license fee plus registration and plate fees.
Source: NJ Motor Vehicle Commission dealer requirements. New car dealers also need a franchise agreement and other documents.
How much a New Jersey dealer bond costs
SuretyBonds.com lists the $10,000 New Jersey dealer bond starting at $100 a year, with bonds expiring March 31 and premiums prorated by purchase date.
Bond vs. dealer insurance
The bond protects the public and the state, not the dealership. Dealers also carry the required vehicle insurance and usually garage liability and commercial auto coverage. See our surety bond vs. insurance guide.
New Jersey auto dealer bond FAQs
How much is a New Jersey dealer bond?
$10,000. Published prices start around $100 a year.
When does the New Jersey dealer bond expire?
It must not expire until March 31 of the year the license expires.
Can I submit a copy of the bond to the MVC?
No. The original bond is required.
Related guides
- New Jersey surety bonds
- New York auto dealer bond
- Illinois auto dealer bond
- Commercial auto insurance
- Surety bonds
- Surety bond cost
- Surety bond cost calculator
- Buy a surety bond online
- License and permit bonds
- South Dakota auto dealer bond
- West Virginia auto dealer bond
- New Mexico auto dealer bond
- Nebraska auto dealer bond
- Kansas auto dealer bond
- Iowa auto dealer bond
- Oklahoma auto dealer bond
- South Carolina auto dealer bond
- Alabama auto dealer bond
- Tennessee auto dealer bond
- Washington auto dealer bond
- Michigan auto dealer bond
- Pennsylvania auto dealer bond
Important information
Compensation. The link in the partner quote box near the top of this page is sponsored, and Blake Insurance Group may be paid if you make a purchase. Sponsored placement does not affect the other information on this page.
Independent agency. Blake Insurance Group LLC is an independent insurance agency. Licensed insurance producer NPN 16944666. Licensed states: AZ, AL, TX, CA, NY, OH, FL, NC, VA, GA, OK, NM, IA, KS, MI, NE, SC, SD, WV, IL, NJ, PA, TN, and WA. Which insurance companies we can quote depends on our current appointments, the product, and your state. Mentioning a company on this page does not mean we represent it.
Cost figures. Published averages and ranges are cited from the sources named, as of the dates shown. They are not quotes and may not reflect your price, which depends on the insurer, the surety, your credit, the bond type, and underwriting.
Availability. Coverage, prices, discounts, and eligibility vary by insurer, state, and applicant, and are subject to underwriting. The issued policy controls.
Your next step
Tell us about your dealership, and a licensed agent will help with your New Jersey dealer bond, or start a bond quote online with our partner.
