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New Mexico Motor Vehicle Dealer, New Mexico Auto Dealer Bond:

The New Mexico Motor Vehicle Dealer bond is a License Surety Bond that serves to protect New Mexico's citizens by providing a path for recourse in situations where an Auto Dealer does not adhere to the laws, rules, and regulations as set in New Mexico state legal statutes. A New Mexico Motor Vehicle Dealer bond may be required as part of the Motor Vehicle Dealer licensing and/or vehicle registration process.

In New Mexico, the required Motor Vehicle Dealer bond amounts are as follows:

• New Mexico, Motor Vehicle Dealer bond requirement – $50,000 Surety Bond
• New Mexico, Motorcycle Only Dealer bond requirement – $12,500 Surety Bond

You should always check with the New Mexico Motor Vehicle Division, or requesting agency, for the most current required New Mexico Motor Vehicle Dealer bond amount as well as the required bond forms.

Viking Bond Service, Inc. writes New Mexico Motor Vehicle Dealer bonds. We can assist both clients with good credit, and clients with bad credit. Typically, the worse the credit, the higher the surety bond premium will be. In either case, we always work to get the best quote for you. Viking has partnered with markets that welcome New Mexico Motor Vehicle Dealer bond applications and provide competitive quotes for them.

(See Also: Cost Expectations for Auto Dealer Bonds)