What Do You Need To Get A Vehicle Registered In Oklahoma

oklahoma dealer license

Oklahoma is one of the meridian states to run an auto dealership in the U.S. , with some of the highest average sales volumes and lowest startup costs. If you're thinking about launching your business there, your first step is to obtain an Oklahoma dealer license.

The procedure that you lot have to go through is set by state authorities and aims to bank check your suitability to work equally a dealer. It entails coming together a number of requirements, which in most cases includes posting an machine dealer bond.

In the sections below, y'all can observe the essential details about the licensing process, then that yous can commencement your dealership in Oklahoma with ease.

1. Select the automobile dealer license type

There are two authorities in the state that can issue your Oklahoma dealer license. The start one is the Used Motor Vehicle and Parts Commission (UMVPC), from which y'all can obtain the following license types:

Used Motor Vehicle Dealer – used vehicles
Wholesale Motor Vehicle Dealer – wholesale

The other licensing torso is the state Motor Vehicle Commission (OMVC). Information technology provides another Oklahoma automobile dealer license type:

New Vehicle Dealer – new automobiles, trucks, and buses

Determine which type of licenses you lot need based on the vehicles you lot want to sell and outset you application with the respective authority.

ii. Become to know the Oklahoma dealer license requirements

The criteria that you have to satisfy depend on the license type that you lot want to obtain.

For Oklahoma used automobile dealer license or wholesale license from the UMVPC, the requirements are the following:

Personal history questionnaire
Driver's license from the state
Current certificate of incorporation or LLC, or a current document of skilful standing
Fiscal statement
Photos of office, sales lot and business sign
Attendance of required education program
Salesperson registration form
$25,000 single limit garage liability insurance
$25,000 or $50,000 surety bond

For farther information about the requirements of the UMVPC, you lot can consult its Rules and Regulations .

Applicants for a new machine dealer license from the OMVC have to satisfy the following requirements:

Business concern history of the company and of each owner or executive manager
Company residuum sheet or pro forma
Affidavit of extended service contracts (for purchasing an existing dealership)
Photos of showroom, front, outdoor sign, parts area, service area and exhaust system in service area
Dealer agreements
Salesperson registration form

Y'all can larn more about the OMVC'due south requirements from its Laws and Rules page.

3. Set your paperwork

oklahoma dealer license The licensing process for applicants with the UMVPC starts with completing the relevant forms – used vehicle dealer awarding or wholesale dealer application .

Together with the requirements detailed in the previous section, you also have to obtain documents from other authorities:

Current report from the land Agency of Investigations (OSBI)
Alphabetic character of let from the city or canton (for used car dealers only)

As for applicants with the OMVC , they have to fill in the new car dealer awarding grade and fix proof for all licensing criteria.

4. Obtain the necessary Oklahoma machine dealer bond

Posting an Oklahoma auto dealer bond is 1 of the indispensable requirements that you lot have to satisfy to become licensed. It is applicative for all license types provided by the UMVPC. The bond guarantees your legal compliance and thus protects your customers.

The bond amounts are the post-obit:

$25,000 for used car dealers, franchised used machine dealers, and wholesale dealers
$50,000 for used car dealer auctions

In order to get bonded, y'all need to pay a small fraction of the required amount. This is your premium, which depends on the strength of your personal and business finances. If they are in good standing, you lot tin expect bond rates betwixt 0.75% and 5% .

5. Apply for an Oklahoma dealer license with the total document gear up

Used car and wholesale dealers have to submit their awarding and paperwork to the UMVPC by mailing them to:

Used Motor Vehicle and Parts Commission
2401 NW 23rd St. Suite 57
Oklahoma Urban center, OK 73107

The licensing fees are the following:

$600 application fee for wholesale, used motor vehicle and used motor vehicle sale licenses
$200 application fee for franchised used motor vehicle dealers and for a second location
$25 awarding fee for salesperson registration (used dealers only)

The UMVPC meets on the second Tuesday of each month. You accept to file your documents at least 11 days before that. After the Commission reviews your application, an inspector will visit your business concern location to corroborate it. If the inspection is successful, y'all will receive your license.

Applications for a new machine dealer license have to exist sent to:

Oklahoma Motor Vehicle Commission
4334 N.W. Expressway, Suite 183
Oklahoma City, OK 73116

The relevant fees are the following:

$300 fee for a franchise dealership
$100 annual renewal fee
$25 fee for salesperson registration

The OMVC meets on the second Tuesday of each calendar month. You lot have to submit your paperwork viii days before it, at the latest. Later on its coming together, you will get an inspection of the property where your dealership is located. The license can be issued after if you satisfy all criteria.

six. Renew your Oklahoma dealer license

You lot have to renew your license earlier its expiration date, and so that you keep your dealer operations.

Used motorcar and wholesale dealer licenses expire on December 31st of each odd-numbered year. Thus, you have to renew them biennially.

The expiration date of new car dealer licenses is June 30th every year. You lot have to renew your license by June 1st, and then that your new license starts every bit of July 1st.

Do y'all need more information virtually obtaining your Oklahoma automobile dealer license and bonding? Don't hesitate to contact us at 877.514.5146.