25 / 284
SERVICES FOR DEALERS
2017
MEMBERSHIP
DIRECTORY
16
Dealer Facility Licensing
GNYADA assists dealers through the arduous licensing/amendment process. Operating franchised dealerships in
New York requires dealers to follow numerous DMV, tax, and other rules and requirements. Additional paperwork
is needed when operating in New York City limits. Completing the application correctly and attaching the proper
documentation and fees is mandatory; GNYADA’s experience and contacts help guide both first-time New York
dealers as well as established dealers through the system.
Surety Bonds
New York State Department of Motor Vehicles Law Section 415 requires new car dealers to have a $50,000 surety
bond to secure or maintain their facility licenses.
The Association assists dealers with surety bonds, out-of-state bonds, DCA bonds, Utility bonds, Games of Chance
Bonds, ERISA Bonds and others.
Since the program began, over 1,000 bonds have been secured for dealerships.
GNYADA secures bonds through the “A” rated Selective Insurance at very reasonable rates. New car dealer bonds
cost $300 and are valid for two years. GNYADAmembers can also purchase $20,000 or $100,000 Used Car Bonds for
their separate Used Car facilities at a discount. These are also valid for two years. The Association’s bonds feature:
•
Simple application
•
No required financial statements
•
24-hour turnaround, when needed
•
Amendments to name and address at no additional charge
•
No credit checks for you OR your spouse
•
Flat rate pricing
•
Automatic renewal
Warranty Parts Reimbursement Program
The New York Dealer Franchise Law includes
a method for dealers to claim retail mark-
up for parts used for warranty repairs.
GNYADA has a program to help dealers
prepare and submit requests for increased
reimbursement. Each manufacturer has
different requirements, and each submission
is tailored to the specific brand. This program
continues to be very successful in obtaining
increased payments for warranty work to
members.