Oklahoma Used Vehicle or Secondhand Parts Dealer Bond Guide
To operate as a used trailer, vehicle, salvage or secondhand parts dealer in Oklahoma, you need to file a surety bond with the state. Learn all about the bonding process with this guide.
Bond Overview
- Purpose: To ensure used trailer, vehicle or auto parts dealers adhere to state laws
- Who Needs It: Used trailer and auto dealers, salvage dealers and secondhand parts dealers
- Regulating Body: Oklahoma Tax Commission (OTC)
- Required Amount: $1,000
- Premium Rates: Start at $100, typically 1–10% of the bond amount
What Is an Oklahoma Used Auto Dealer Bond?
An Oklahoma used trailer, auto, salvage or secondhand parts dealer bond ensures that businesses:
- Comply with state regulations
- Follow the terms of their contracts and agreements
- Handle business transactions legally and ethically
These bonds protect consumers and the public from financial loss if a dealer fails to meet these obligations.
How Much Do Oklahoma Used Vehicle or Secondhand Parts Dealer Bonds Cost?
Oklahoma used trailer, auto, salvage or secondhand parts dealer bond rates start as low as $100 per year. The cost is determined based on a percentage of the bond amount — typically 1–10% — which may be influenced by the credit score of the business owners. Apply for your free quote now.
SuretyBonds.com offers the lowest available rates available from our nationwide network of providers.
How Do Oklahoma Used Trailer, Auto, Salvage, Accessories or Secondhand Parts Dealer Bonds Work?
By purchasing one of these surety bonds, you enter a legally-binding contract with three parties:
- Principal: The business purchasing the bond
- Obligee: The Oklahoma Tax Commission (OTC) requiring the bond
- Surety: The provider issuing the bond
If you, as the principal, violate the bond terms, a harmed party (such as a customer or the OTC) can file a claim. The surety will cover valid claims up to the bond amount, but the business is ultimately responsible for reimbursing the surety.
Who Needs a Used Auto Dealer Bond?
In Oklahoma, dealers of used cars, trailers, auto parts and accessories need a surety bond to operate legally. This requirement applies to various dealer categories, including:
- Used Auto Dealers: Those purchasing, selling, trading or exchanging used automobiles
- Auto Salvage Dealers: Those acquiring and salvaging used auto parts or vehicles for resale
- Secondhand Parts Dealers: Those dealing in secondhand or used auto parts and accessories, either by purchasing, selling, offering for sale or trading
The required bond amount is $1,000 for all types of dealers in these categories.
How Do I Get a Used Vehicle Dealer Bond in Oklahoma?
SuretyBonds.com provides the fastest and easiest way to get bonded. Checkout in minutes through our online portal. You’ll receive your official bond form via email instantly.
File the official bond documentation with the OTC to obtain or maintain your business license.
How Do I Renew My Bond?
You must renew your bond before the current one-year term ends. After paying your renewal invoice, you'll receive instructions to ensure your bond remains active for the upcoming term.
Check out our How to Renew Your Surety Bond page for more information.
How to Become a Used Trailer, Motor Vehicle, or Secondhand Parts Dealer in Oklahoma
To become a licensed used auto dealer in Oklahoma, complete the following steps:
- Determine your license classification
- Contact the Oklahoma Tax Commission (OTC) for forms and details
- Complete necessary training or exams
- Submit supporting documents (ID, experience, insurance, etc.)
- File a $1,000 surety bond
- Apply online through the OTC portal
- Submit fingerprint cards
Once all requirements are met and approved, you will receive your license and can start operating in Oklahoma.
