Oklahoma Motor Vehicle Dealer License Bond

In the State of Oklahoma, all motor vehicle dealers must become licensed before they can legally sell or advertise vehicles for sale.  As part of the licensing requirements, dealers must post and maintain a Motor Vehicle Dealer License Bond for a 2 year term, expiring on December 31st.  There are 3 separate categories of licenses that require a bond.

Bond TypeRequired Bond AmountBase premium (for qualifying accounts)
Used Motor Vehicle Dealer Bond$25,000$263
Used Motor Vehicle Auctioneer (Dealer) Bond$50,000$525
Wholesale Motor Vehicle Dealer Bond$25,000$263
Motor Vehicle Rebuilder's Bond$15,000$175

Dealers wanting to get licensed in Oklahoma must review the State of Oklahoma Used Motor Vehicle and Parts Commissions website  for qualifications and requirements.