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Oklahoma Used Motor Vehicle Dealer Surety Bond

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If you are a used motor vehicle dealer in Oklahoma, you need a "Used Motor Vehicle Dealer Surety Bond". The Oklahoma Used Motor Vehicle and Parts Commission (also known as the Used Car Commission) require the following to apply for a license: used motor vehicle salesperson, used motor vehicle dealer (also known as a car dealer or auto dealer), wholesale dealer, rebuilder, auction, crusher, manufactured home dealer, and manufactured home manufacturer.

Surety Bond Requirements:

  • Used Motor Vehicle Dealer: surety bond amount: $25,000
  • Wholesale Motor Vehicle Dealer surety bond amount: $25,000
  • Used Motor Vehicle Rebuilder surety bond amount: $15,000
  • Used Motor Vehicle Dealer Auction surety bond amount: $50,000
  • Used Motor Vehicle Crusher surety bond amount: $25,000
  • Manufactured Home Dealer surety bond amount: $30,000
  • Manufactured Home Manufacturer surety bond amount: $30,000

    • License Requirements:

    1. Dealer applicants must complete the application, pay the licensing fee and obtain a surety bond.
    2. The application process includes providing financial statements, $25,000 Garage Liability Insurance, photos of the inside and outside of the business location including signage, lot and office, proof of zoning approval, attend the required education program and obtain a surety bond.
    3. License and surety bonds renew every two years.

    How Much Will This Bond Cost?

    The premium that you pay for an Oklahoma Used Motor Vehicle Dealer Surety Bond is dependent on credit, the type of bond needed and experience in the motor vehicle dealer industry. Our rates start at 1.25% of the bond amount with good credit. Contact our Surety Bond Specialists for a free quote.

    Related Links:

    Oklahoma Used Dealer Commission

    More Surety Bond Questions?

    Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

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