What is an New Mexico Dealer Bond?
New Mexico Car Dealer Bonds are required by New Mexico's MVD to obtain your Dealer license. The MVD Bond amount for the sale of New and used vehicles is set at $50,000. The Auto Dealer bond ensures that the principal shall comply with the conditions of any contract made by such licensee in connection with the sale or exchange of any motor vehicle and shall not violate any of the provisions of law relating to the conduct of the business for which it is licensed.
The State requires a Car Dealer bond for each license you hold:
$50,000 surety bond for New and Used Motor Vehicle Dealers, Public Consignment Auction Dealers and all other types of Dealers
Different parts of a bond:
There are 3 parts to a MVD surety bond. The Principal "YOU", The Surety Company, and the Obligee. The Principal is the business or individual applying for the MVD Surety Bond. The Obligee is the individual or entity requiring the Surety Bond and the Surety Company is the company who provides the Surety Bond coverage.
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You can buy your New Mexico Car Dealer bond (Apply) online immediately
New Mexico MVD Bond Requirements and Information:
The requirements and application for a bond:
Before you start your Dealer Application
A company or an individual that sells more than four vehicles in a year is required to be licensed
by the Dealer Licensing Bureau.
Please take the time to review these directions prior to entering your information online. You
must complete the application from start to finish and provide all the necessary documents in
The following is a user guide to submit an application. Submission does not guarantee you will
be granted a license. The $50.00 fee is non-refundable.
Required documents and information
Documents will need to be scanned and/or attached to application.
Business Identification numbers - NM Tax ID-CRS, Federal tax ID, Secretary of
State assigned corporation or partnership number
Business Ownership documents – Certificate and Articles of Organization (LLC)
Individual Owner information Driver’s License number, phone number,
Property Lease- minimum of 6 months
$50,000 Dealer Bond Documents
Pre-Licensing Education certificate for Pre-Owned dealers- contact New Mexico
Independent Auto Dealers Association
Franchise agreement from a manufacturer for new car dealers
Pictures or Diagrams
Business Site Location
Vehicle Display Area
Inside Office Space
Signage (Doing Business As Name must match the sign)
Diagram of Property Layout including location of sign
Inside Office Space Layout
$50 application fee-credit card or e-check