Surety bonds • New Mexico
New Mexico Auto Dealer Bond: $50,000 Requirement and Cost
Under NMSA § 66-4-7, New Mexico dealers, wholesalers, distributors, auto recyclers, and title service companies must file a $50,000 continuous surety bond before a license is issued. Motorcycle-only dealers need $12,500. Published prices for the $50,000 bond start around $375 a year.
This guide covers bond amounts, who the bond protects, and cost. Blake Insurance Group is an independent agency, and a licensed agent can help with your bond and dealer insurance.
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Bond amounts
| License type | Bond amount |
|---|---|
| Dealer, wholesaler, distributor, auto recycler, or title service company | $50,000 |
| Motorcycle-only dealer | $12,500 |
Source: NMSA § 66-4-7.
Who the bond protects
The bond is payable to the state for the benefit of vehicle purchasers and their vendees, covering losses from failure to deliver good title, fraudulent misrepresentation, or breach of warranty about liens. It is continuous in form, with aggregate liability capped at the bond amount (NMSA § 66-4-7).
How much a New Mexico dealer bond costs
| Bond | Published price |
|---|---|
| $50,000 dealer or auto recycler | From $375 a year |
| $12,500 motorcycle dealer | From $100 |
Prices published by SuretyBonds.com; rates depend on credit.
Bond vs. dealer insurance
The bond protects customers, not the dealership. Dealers usually also carry garage liability, dealer’s open lot, and commercial auto insurance. See our surety bond vs. insurance guide.
New Mexico auto dealer bond FAQs
How much is a New Mexico dealer bond?
$50,000. Published prices start around $375 a year.
How much is a New Mexico motorcycle dealer bond?
$12,500.
Does the New Mexico dealer bond expire?
No. It is continuous in form.
Related guides
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 Mexico dealer bond, or start a bond quote online with our partner.
