In New York all auto dealers (new and used) must provide a New York motor vehicle dealer bond. The surety bond is required by the New York Vehicle and Traffic Law section 415(6-b), must be in the amount of $10,000, and guarantees that the dealer will pay all valid bank drafts, including checks, drawn by the dealer for the purchase of motor vehicle, transfer good title to each motor vehicle which the Principal sells, maintain and keep safe all customer deposits related to the sale of a motor vehicle from the time of receipt of such customer deposit until good title has been transferred to the customer, pay all fines imposed upon the dealer by the Commissioner, and repay any overcharges of a customer for vehicle registration and titling. The nation’s leader in surety, Surety One, Inc., offers this New York surety bond for good and bad credit applicants. Visit us at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a New York motor vehicle dealer bond of for information about any surety need. También les ofrecemos nuestro servicio de fianza a la clientela hispanoparlante.
