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Oklahoma Motor Vehicle Dealer Bond

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How much does an Oklahoma auto dealer license cost?

Oklahoma’s Used Motor Vehicle and Parts Commission requires used motor vehicle dealers to post $25,000 surety bonds. Wholesale motor vehicle dealers must also post $25,000 bonds.

These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit history. Bad credit? No problem! We offer an exclusive bad credit bonding program through which we approve 99% of all applicants. Request your free bond quote now!

Bond Type
$25,000Used Motor Vehicle Dealer Bond
$25,000Wholesale Motor Vehicle Dealer Bond

We can provide your free bond quote within one business day of submitting your application. Call 1 (800) 308-4358 or click here to get started!

Why do I need an Oklahoma auto dealer bond?

By posting a used auto dealer or wholesale motor vehicle dealer bond in Oklahoma, principals (auto dealers) pledge to conduct business without making fraudulent representations or violating any provisions of the Oklahoma Used Motor Vehicle Dealer Laws. If the principal fails to comply with these terms, the bond protects any person, whether a consumer, a used motor vehicle dealer, or a used motor auction, from financial loss suffered as a result of the principal’s unlawful business practices up to the full penal sum of the bond.

Purchase your Oklahoma surety bond quickly, easily, and accurately! Apply for your free bond quote now.

Considerations with Oklahoma auto dealer bonds

Oklahoma auto dealer bonds and licenses expire on December 31, but they can be continued with the issuance of a continuation certificate. Effective November 1, 2015, all licenses will be issued for two-year terms. Renewal applications must be submitted by November 1 of each year of expiration. The surety can cancel the bond by giving written notice of cancellation to the principal and the Used Motor Vehicle and Parts Commission at least 30 days prior to the effective cancellation date.

How to become an auto dealer in Oklahoma

  1. Find the application for the kind of motor vehicle industry bond you need. When completing the application, you must pay the applicable application fee:
    Used Motor Vehicle Dealer - $600
    Franchised Used Motor Vehicle Dealer - $200
    Used Motor Vehicle Dealer Auction - $600
    Secondary Location - $200
    Wholesale Motor Vehicle Dealer - $600
  2. Along with the application, you’ll need to submit the following materials:
    Oklahoma State Bureau of Investigations report for each applicant
    Personal history questionnaire for each applicant
    Driver’s license copy for each applicant
    Financial statement
    Proof of garage liability insurance
    Dealer surety bond
    Current business certificate of incorporation or LLC
    Photos of the business office and signage
    Proof of a usable phone
    Copies of sales documents
    Documented inspection and approval
    Attendance at a mandatory educational program

Note: Used motor vehicle dealers also need to submit city/county permits and must register each salesperson.

Ready to get started?

Call 1 (800) 308-4358 to talk with a Surety Expert