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Does an Oklahoma Used Motor Vehicle Dealer Need a Surety Bond?

An Oklahoma Motor Vehicle Dealer shakes hands with a customer

If you are a Used Motor Vehicle Dealer in Oklahoma, you need a Used Motor Vehicle Dealer Surety Bond. Licenses are required for the following: 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.

Dealer applicants must complete the application, pay the licensing fee and obtain a surety bond.

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.

The surety bond requirement is as follows:

  • 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 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.

    Have Questions?

    Contact our Surety Bond Specialists at:

    Phone: 1‑844‑432‑6637
    Emailinfo@suretygroup.com
    Fax:     404-351-3237
    Hours: 8:00-5:00 CST, Monday through Friday



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