Motor Vehicle Dealer Bond in Oklahoma

What this bond requires in Oklahoma

Under 47 O.S. § 583, used motor vehicle and wholesale dealers must file a $25,000 surety bond with the Commission, approved as to form by the Attorney General, conditioned on compliance with the statute and against fraud. Auction dealers must post $50,000 unless they carry check-and-title insurance of at least that amount, and high-volume consignment dealers projecting $500,000+ in annual sales also post $50,000. Initial license fee is $600 with $300 renewals.

Who requires it

The motor vehicle dealer bond is required by the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission under 47 O.S. § 581 et seq.; 47 O.S. § 583; OAC Title 765.

How to file in Oklahoma

Applicants file a verified application on the Commission prescribed form along with the executed surety bond (using the Commission bond form), financial information, proof of an established place of business, background and tax materials, and fees. The original bond is submitted to the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission office in Oklahoma City; the bond must remain continuously on file, and a continuation or replacement bond is required at each two-year renewal.

Official filing form →

Get a real motor vehicle dealer bond quote for Oklahoma

Your bond type and state will be pre-filled. No upsell, no pressure.

FAQ

Common questions

Is a motor vehicle dealer bond required in Oklahoma?

Yes. Oklahoma requires motor vehicle dealer bonds issued by an admitted surety. The required amount is $25,000 to $50,000.

How much is the bond in Oklahoma?

The bond amount is $25,000 to $50,000. Your annual premium is a small percentage of that, based on credit and experience.

Who requires the bond?

The bond is required by the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission.

How is the bond filed?

Applicants file a verified application on the Commission prescribed form along with the executed surety bond (using the Commission bond form), financial information, proof of an established place of business, background and tax materials, and fees. The original bond is submitted to the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission office in Oklahoma City; the bond must remain continuously on file, and a continuation or replacement bond is required at each two-year renewal.

What does the bond cover?

Surety bonds protect the obligee, not the principal. If you fail to meet the obligation the bond guarantees, the surety pays the claim and recovers from you.

Is a surety bond the same as insurance?

No. Insurance protects you. A surety bond protects whoever required the bond. You repay the surety for any claim they pay.