National Independent Automobile Dealers Association
Serving Quality Independent Automobile Dealers Since 1946

Dealer Bond And Licensing Information » New Mexico

Bonds

A $20,000 corporate Surety Bond is required for auto dealers, salvage dealers, manufacturers, mobile home dealers and motorcycle dealers. A $12,500 bond is required for motorcycle dealers; no bond for boat dealers.

Dealer License

A dealer license is required for wholesalers, manufacturers, wreckers, distributors, new vehicle dealers, used vehicle dealers, house trailer and motorcycle dealers. An established place of business must be maintained and zoning and fencing requirements must be met. All dealers must have a display area except wholesaler. On-site inspection is conducted prior to license issuance.

Dealer License Fee: $50.00 upon application and renewal

Dealer licenses are renewed December 31 each year.

Contact the New Mexico Independent Automobile Dealers Association for additional information.