How much does an auto dealer bond cost in Oklahoma?
Oklahoma’s Used Motor Vehicle and Parts Commission requires used motor vehicle dealers to post $25,000 surety bonds. Wholesale motor vehicle dealers must also post $25,000 bonds.
These bonds are subject to underwriting consideration, so the price you’ll pay depends on a review of your personal credit report. Bad credit? No problem! We offer an exclusive bad credit bonding program through which we approve 99% of all applicants. Request your free bond quote now!
We can provide your free bond quote within 1 business day of submitting your application. Call 1 (800) 308-4358 or click here to get started!
Why do I need this bond?
By posting a used auto dealer or wholesale motor vehicle dealer bond in Oklahoma, principals (auto dealers) pledge to conduct business without practicing fraud, making fraudulent representations and violating any provisions of the Oklahoma Used Motor Vehicle Dealer Laws. If the principal fails to comply with these terms, the bond protects any person, whether a consumer, used motor vehicle dealer or used motor auction, from financial loss suffered as a result of the principal’s unlawful business practices up to the full penal sum of the bond.
Purchase your Oklahoma surety bond quickly, easily and accurately! Apply for your free bond quote now.
What’s the fine print?
Oklahoma auto dealer bonds and licenses expire on December 31, but can be continued with the issuance of a continuation certificate. Effective November 1, 2015, all licenses will be issued for 2-year terms. Renewal applications must be submitted by November 1 of each year of expiration. The surety can cancel the bond by giving written notice of cancellation to the principal and the Used Motor Vehicle and Parts Commission at least 30 days prior to the effective cancellation date.
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