Oklahoma Used Motor Vehicle Rebuilder Bond Guide
If you’re applying for a rebuilder’s certificate in Oklahoma, you’re in the right place. This guide will outline everything you need to know about the bonding and registration process.
Bond Overview
- Purpose: To ensure rebuilders follow state regulations and operate ethically
- Who Needs It: Any used auto dealer applying for a rebuilder’s certificate
- Regulating Body: The Oklahoma Used Motor Vehicle and Parts Commission
- Required Coverage: $15,000
- Premium Rate: $75–$1,500 for a 2-year term, credit-based and prorated
What Is a Used Motor Vehicle Rebuilder Bond?
An Oklahoma used vehicle rebuilder bond is required to protect clients and the general public from harm if a certified rebuilder operates illegally or unethically.
How Much Do Used Motor Vehicle Rebuilder Bonds Cost in Oklahoma?
A $15,000 Oklahoma vehicle rebuilder bond costs 0.5–10% of the bond amount, based on credit-score. Prices start as low as $75 for a full 2-year term.
These bonds expire on December 31 of even-numbered years. So, your exact premium will be prorated based on the purchase date. Apply for a free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does an Oklahoma Used Motor Vehicle Rebuilder Bond Work?
This surety bond creates a legally-binding contract between the following three parties:
- Principal: The used vehicle rebuilder filing the bond
- Obligee: The Oklahoma Used Motor Vehicle and Parts Commission requiring the bond
- Surety: The provider issuing the bond
As the principal, you are responsible for upholding the bond obligations. If you fail to do so, harmed clients or the Commission can file claims to reimburse damages.
Who Needs a Used Motor Vehicle Rebuilder Bond?
Anyone acting as a motor vehicle rebuilder in Oklahoma is legally required to file a $10,000 bond with the state Used Motor Vehicle and Parts Commission.
Rebuilding includes reconstructing and repairing vehicles to drivable conditions, including both cosmetic and operational repairs.
How Do I Get a Used Motor Vehicle Rebuilder Bond?
We make the bonding process fast and easy for vehicle rebuilders in Oklahoma. Just follow these steps:
- Apply: Submit a quote request form
- Sign: Complete the digital indemnity agreement form
- Pay: Check out online at your convenience
We’ll email you the bond shortly after purchase.
How Fast Can I Get My Bond?
We issue quotes within one business day or less. You can pay online 24/7. Most bonds purchased by 4 PM CST are issued same-day Mon–Fri.
Can I Get Bonded With Bad Credit?
Yes, you can typically get this bond regardless of credit score. However, personal credit history can impact your premium rate.
How Do I Renew My Used Motor Vehicle Rebuilder Bond?
These bonds expire on December 31st of odd-numbered years. To extend your coverage, pay your renewal invoice when prompted.
As long as the market is still available and there are no claims, your bond will be renewed for another term.
How to Become a Used Vehicle Rebuilder in Oklahoma
The Used Motor Vehicle, Dismantler and Manufactured Housing Commission issues rebuilder certificates to licensed used motor vehicle dealers that also want to offer rebuilding services.
To apply, submit the following materials:
- Notarized application form
- Financial statement
- Check for the $600 application fee
- OBSI criminal record report
- $15,000 rebuilder bond (original)
- Photos of the facility and equipment
- Permit or letter of approval from the city or county
After reviewing the application, a Commission inspector will schedule a facility inspection.
