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Repossession
New York
New York City

What type and amount of bond is needed to start a vehicle repossession business in New York state?

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Wiki User
2005-01-11 13:00:49
2005-01-11 13:00:49

Bond?? whatever the NY authorities require to get a BL. Bond to get business?? Varies by lender. MAJOR nationwide lenders usually want $1,000,000 wrongful repossession insurance.Smaller lenders may not require a bond. Certification??? NOT required but it is VERY useful. At $350.00 for a cert course, it is money weel spent.

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