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Dealer Bond Under New York State Vehicle and Traffic Law Section 415 (6-b)

New motor vehicle dealers, qualified dealers, and retail or wholesale used motor vehicle dealers. Required when: Required as a condition for obtaining or renewing a motor vehicle dealer registration certificate. Exemptions: Dealers who exclusively sell trailers, motorcycles, vehicles over 10,000 pounds, ATVs, boats, s…

Bond amount"$20,000 for dealers who sold 50 or fewer vehicles in the previous calendar yea…
State or jurisdictionNew York
ObligeeNew York State Department of Motor Vehicles

Essential point: Pin down whether this is your bond, then start the application. Ava can confirm the right state and license type if you are not sure.

Amounts can vary

Selected requirement: "$20,000 for dealers who sold 50 or fewer vehicles in the previous calendar yea…. Other available requirements: "$20,000 for dealers who sold 50 or fewer vehicles in the previous calendar year; $100,000 for dealers who sold more than 50 vehicles in the previous calendar year; $50,000 for new (franchised) motor vehicle dealers selling cars, SUVs, and…. Exact options still depend on the obligee, state, and underwriting.

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2323 yearsHelping clients and agents
Overview

What it is.

New motor vehicle dealers, qualified dealers, and retail or wholesale used motor vehicle dealers. Required when: Required as a condition for obtaining or renewing a motor vehicle dealer registration certificate. Exemptions: Dealers who exclusively sell trailers, motorcycles, vehicles over 10,000 pounds, ATVs, boats, s…

Who usually needs it

New motor vehicle dealers, qualified dealers, and retail or wholesale used motor vehicle dealers.

Pricing & timing

What to expect.

Generic pricing

License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher depending on the specific bond type, state program, or underwriting requirements.

Your quote determines the actual premium.

Typical timeframe

Issuance timeframe varies by bond type and underwriting

Timing can change when underwriting needs more information.
Application details

How it works.

  1. Start the application

    Confirm the bond and provide applicant and business details.

  2. Review the quote

    See the terms and premium before deciding to continue.

  3. Pay and sign

    Complete the required payment and signatures.

  4. Receive the bond

    Get the issued bond and filing or delivery instructions.

Platinum Bonds

Experience behind every bond.

Helpful guidance, a real agency team, and a clear path from research to application.

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23 years

Offering service to clients and agents alike.

Next step

Ready to move forward?

Start the secure application with this bond already selected, or ask Ava a question before you begin.

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