NMSA 1978, Section 66-4-7 requires an applicant for a vehicle dealer, wholesaler, distributor, auto recycler, or title service company license to file a $50,000 corporate surety bond with the Motor Vehicle Division (a motorcycle-only dealer files $12,500). The bond is payable to the state for the benefit of purchasers and their vendees, conditioned on loss from failure of title, fraudulent misrepresentation, or breach of warranty as to freedom from liens, and is continuous in form and limited to $50,000 in total aggregate liability. The corporate surety must be authorized in New Mexico and the form approved by the attorney general; the bond runs concurrently with the license, which expires March 31.

What the bond actually guarantees

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New Mexico consumer protection dealer bond: $400 fixed price for the $50,000 bond required under NMSA 1978 §66-4-7 for auto dealers. Issued instantly.

Consumer Protection Dealer Bond ($50,000)

New Mexico - Consumer Protection (Dealer) ($50,000)

Final premium can vary based on underwriting factors

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