New Hampshire Sales Finance Company Bond |
AmeriPro Surety Bonds | 844-589-9732
Motor Vehicle Sales Finance License – New Hampshire
The $25,000 New Hampshire motor vehicle sales finance company bond is a requirement of the state’s Banking Department. While the Department requires this surety bond, the licensing process is facilitated through NMLS, the Nationwide Mortgage Licensing System.
Qualifying and the Premium
You are automatically approved for the $25,000 New Hampshire sales finance company bond. There is no underwriter review nor a credit check inquiry needed to purchase this bond.
Instead, all we’ll need are the following:
- A completed application. We will go through the application with you over the phone. The application is pretty much the basics: the name as it should appear on your bond, your address and other contact information. But, we’ll need you to sign the application and then email it back to our agency.
- Payment of the premium. The premium is just $188 annually.
Once the application is received and the premium is paid, our agency issues this bond to you immediately. The bond is sent to you along with the Power of Attorney (POA) form.
Upon receipt you’ll sign your bond as Principal and file it along with the POA.
Premium Prepayment Options
The $188 premium associated with your New Hampshire sales finance company bond is for a one year period. Your surety bond renews on the anniversary of its issuance.
Considering the low premium amount for this bond, you may wish to consider prepayment of your premium. This is offered up to 3 years and saves you over the annual renewal.
The premium prepayment options and savings are as follows:
- If prepaid for 2 years, the premium is $338, a $38 savings;
- If prepaid for 3 years, the premium is $489, a $75 savings.
Purpose of Your Surety Bond Requirement
The purpose of this motor vehicle sales finance company bond is to serve as a financial guarantee which ensures your compliance with New Hampshire RSA 361-A. This statute deals with what is required and what is prohibited in sales financing.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide sales finance company surety bonds wherever this is required, nationwide.
Our agency also provides license and permit surety bonds in all 50 states.
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