Motor Vehicle Dealers - Used Vehicles Only

The Wholesale Motor Vehicle Dealer's Surety Bond is a regulatory requirement for Class 3 wholesale motor vehicle dealers operating in Oklahoma who deal exclusively in used vehicles. This bond ensures compliance with state motor vehicle dealer laws and regulations.

Wholesale motor vehicle dealers who buy and sell used vehicles to other dealers, rather than directly to consumers, must obtain this bond as part of their licensing requirements. The bond specifically applies to Class 3 dealers with a $25,000 coverage amount.

This bond protects the State of Oklahoma and the general public from financial losses that may result from the dealer's failure to comply with applicable laws, regulations, or licensing requirements. It provides recourse for damages caused by fraudulent practices, failure to transfer titles properly, or other violations of motor vehicle dealer statutes.

The bond has a 2-year term and expires on December 31st of odd-numbered years. Renewal continuation certificates must be filed with terms running from January 1st of even years to December 31st of odd years. Dealers must submit their license renewal applications and renewal certificates by November 1st of odd-numbered years to maintain continuous coverage.