- Location: New Mexico
Dealer Forms in New MexicoCompare Car Insurance Rates in 3 Easy Steps
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If you are in the process of opening a new dealership (or any business involving vehicles), you will need to complete a mountain of paperwork. It can literally be a scavenger hunt at times to track everything down, so we have compiled all the forms you will need to complete.
- Application for Dealer/Dismantler License: This is the primary form that gets the licensing process started.
- Inspection Certificate of Dealer/Dismantler Place of Business: A form that requires the applicant to submit a barrage of photographs of their business, supply a county or city license, and provide certification from the local zoning board.
- Applicant Information: Everyone involved in the enterprise will need to be listed on this form along with all of their basic info, including address, Social Security number, title, and date of birth.
- Applicant Affidavit: This is a basic questionnaire that allows you come clean on any past dealer license revocations or felonies. It needs to be filled out by every member of the organization. The form also authorizes the Motor Vehicle Division (MVD) to run a background check on all of the members.
- Place of Business Affidavit: A continuation of the questionnaire theme, except this time it relates solely to the business structure itself.
- Surety Bond: In order to operate a dealership and possess a dealer's license, you must put down a $50,000 bond. In the case of motorcycle dealers, the bond is only $12,500. This form is essentially the contract between the owners of the dealership and the state.
Once you have the dealer's license, there are a few forms you will deal with on a consistent basis, especially considering you will need to renew the license each year.
- Renewal of Dealer License: Once a year you will have to undergo a mini-application process just to ensure that you are meeting the requirements of the original license. This form also allows you to make any changes to the original license and purchase more dealer license plates or temporary tags. The renewal fee is $50.
- Affidavit of Dealer License Compliance: This form must accompany the renewal application. It essentially asks for an overview of the year's business, including how many vehicles were sold or wrecked.