Motor vehicle dealer bond cost
The New Hampshire Department of Safety Director of the Division of Motor Vehicles requires auto dealers to post a $25,000 surety bond to legally conduct work within the state.These bonds are subject to underwriting, which means the price you’ll pay for your bond is based on a review of your personal credit report.
Don’t let poor credit stop you from getting the bond you need! Request a free bond quote now! Give us a call at 888.610.4474or submit a bond request now. Our experts will walk you through each step of our fast and easy bonding process!
Why this bond
New Hampshire vehicle dealer’s bonds are put in place to ensure that vehicle dealers perform their obligations to purchasers or other parties who suffer a loss as defined by the New Hampshire Revised Statutes Annotated 261:98. Auto “dealers” are defined by Revised Statutes Annotated RSA 259.89A, RSA 259:6-a, RSA 261:123 and RSA 259:121.
New Hampshire vehicle dealer bonds remain valid for a 1-year term, expiring on the date listed on the bond form. However, the bond can be continued year-to-year with a continuation certificate.
The surety can cancel the bond at any time by giving written cancellation notice to the Director of the Division of Motor Vehicles and the dealer 60 days prior to such cancellation.Applicants should be prepared to disclose what type of vehicles they sell, as most surety underwriting companies require this information to produce these bonds.
Become a motor vehicle dealer
To apply for licenses as a motor vehicle dealer in New Hampshire, applicants must submit the following materials:
- $125 license fee
- $25,000 surety bond
- written approval from state and local authorities
- proof of an established place of business
- regular business hours (must be 37.5 hours per week)
- original criminal background check
- original service agreement
All licenses will expire annually on March 31.Begin the licensing process by purchasing the surety bond need!
Apply for your surety bond
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- New Hampshire Department of Safety Division of Motor Vehicles Registration Motor Vehicle Dealers Retail Vehicle Dealer
- State of New Hampshire NH Department of Safety Division of Motor Vehicles Application for Retail Dealer License and Registration RSA 261: 103 & RSA 261: 103-a
- Chapter Saf-C 2000 Dealer Registration Rules>
- Title XXI Motor Vehicles Chapter 261 Certificate of Title and Registration of Vehicles Dealer’s Bond Required