NJ Dealer Bond

[Tacoma]

I have had my NJ dealer bond for 3 years now and I am relocating to Maryland because I have purchased a larger dealership. I still have 6 months left on my bond and would like to switch it to my new location/company. What do I need to do?

[PT]

Originally Posted by Tacoma

I have had my NJ dealer bond for 3 years now and I am relocating to Maryland because I have purchased a larger dealership. I still have 6 months left on my bond and would like to switch it to my new location/company. What do I need to do?

Unfortunately, bonds are not transferable from state to state because each state has their owner requirements. However, there may be some return premium on your New Jersey bond depending upon the renewal date. You can submit a new application for Maryland and if there is any return premium for your NJ bond, it can be applied to your Maryland bond - but you will need a whole new bond for Maryland. Hope that makes sense!