Oklahoma Used or Wholesale Dealer Bond Overview
- Purpose: To protect the state and dealership clients from financial harm
- Who Needs It: All used and wholesale auto dealers in Oklahoma
- Regulating Body: The Used Motor Vehicle, Dismantler, and Manufactured Housing Commission
- Bond Amount: $25,000
- Minimum Price: $125 for two-year term; credit-based
What Is an Oklahoma Used/Wholesale Vehicle Dealer Bond?
Under Oklahoma Law, used and wholesale vehicle dealers must file a $25,000 surety bond before working in the state.
The Oklahoma dealer bond financially protects individuals who experience any loss as a result of dealer fraud.
If you’re a secondhand dealer, visit our Oklahoma Used Vehicle or Secondhand Parts Dealer Bond Guide instead.
How Much Do Used or Wholesale Vehicle Dealer Bonds Cost in Oklahoma?
With SuretyBonds.com , the state-required $25,000 auto dealer bond premium starts at $125 for a two-year term.
Your exact rate will be provided after you apply. Prices can vary from 0.5% to 10% based on credit history. Apply for your quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does the Bond Work?
As with all surety bonds, a vehicle dealer bond is a financial guarantee and legal contract between three parties.
| Bond Party | Description |
|---|---|
| Principal | The used or wholesale vehicle dealer filing the bond |
| Obligee | The Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission |
| Surety | The issuing surety provider |
The surety acts as a neutral third party financially backing the dealer’s professional duties. If a harmed customer files a bond claim, the surety will validate and cover damages up to $25,000. As the bonded principal, you must repay the surety.
How Do I Get a Used or Wholesale Dealer Bond in Oklahoma?
We make getting a vehicle dealer bond in Oklahoma faster and easier than any other provider. Just follow these steps to get bonded:
- Apply: Fill out the online quote request form. We’ll send your quote in under one business day.
- Buy: Provide any information and signatures as requested and complete the online purchase.
- File: After receiving your bond form via email, submit it along with your license application.
If you work in other states, check out our Auto Dealer Bonds Guide to see all nationwide dealer bond requirements.
How Fast Can I Get My Bond?
Most applications submitted Mon–Fri before 2 PM CST are processed same-day. Once you have your quote, you can complete the purchase online 24/7. You’ll get the official bond via email shortly after.
Can I Get Bonded With Bad Credit?
You may still be able to get an Oklahoma used dealer bond with poor personal credit. However, bad credit can result in a higher bond premium. Apply today to see if you qualify.
How Do I Renew My Bond?
To keep your Oklahoma auto dealer license active and in good standing, you must renew your bond before it expires on December 31 of odd-numbered years.
Once you pay your renewal invoice, we’ll provide a “continuation certificate.” File this with the state as proof of continued bond coverage.
Can I Make Changes to My Bond?
If the Commission requires your bond to be updated for any reason, contact your surety provider. If you purchased your bond from us, email [email protected] to explain the needed change.
The most common changes for these bonds include:
- Dealer or dealership name
- Physical business address
- Dealer license number
How to Become an Auto Dealer in Oklahoma
The Used Motor Vehicle Dismantler and Manufactured Housing Commission oversees licensing of used and wholesale dealers. You’ll need to include the following materials in your application packet:
- $25,000 surety bond (used and wholesale dealers)
- Completed State Bureau of Investigations report
- Personal history questionnaire
- Copy of your Oklahoma driver's license
- Current business financial statement, if applicable
- Proof of garage liability insurance
- Current certificate of incorporation or LLC
- Pictures of the business office and sign
- Proof of a functioning business phone
- Sales document copies to be used
- Inspection approval documentation
- Educational program attendance verification
- Payment for licensing fee
Used motor vehicle dealerships must also submit applicable city/county permits and register each individual salesperson.
Submit your complete application packet to the address below:
Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission
421 NW 13th St
Suite 330
Oklahoma City, OK 73103
Learn more about How To Get An Oklahoma Auto Dealer License in our comprehensive guide.
What Are the Licensing Fees?
To become a licensed dealer in Oklahoma, you must apply and pay the following fees.
- Used Motor Vehicle Dealer: $200
- Used Motor Vehicle Dealer: $600 (Franchised)
- Used Motor Vehicle Dealer Auction: $600
- Wholesale Motor Vehicle Dealer: $600
- Secondary Location: $200
If you have any questions about the license and bonding process, give us a call at 1(800) 308-4358.
