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By Megan Hinojosa • March 14, 2017

How To Get An Oklahoma Wholesale Dealer License And Bond

oklahoma wholesale dealer license

 

A wholesale car dealer is a dealer that cannot sell vehicles to the general public, but can only sell to other car dealers or a wholesale car auction. If you wish to be an Oklahoma Wholesale Auto Dealer, you will need to get an Oklahoma Wholesale Car Dealer License.

 

Short on time? Read our Motor Vehicle Dealer License FAQ

Oklahoma Dealer License Applications are presented to the Commission Board for consideration the second Tuesday of each month. The below requirements must be submitted at least 11 days prior to the meeting.

 

How to get an Oklahoma Wholesale Dealer License

 

Step #1: Read Rules and Regulations

Understand that wholesale motor vehicle dealers cannot sell or transfer titles to anyone other than another licensed dealer. Only one person can act as the dealer under the license, regardless of the ownership.

Wholesale motor vehicle dealers in Oklahoma cannot employe salespersons.

 

Step #2: Complete Oklahoma Motor Vehicle Dealer License Application

The Oklahoma Motor Vehicle Dealer License Application can be found online. 

Worried about a previous felony on your record? Check out this post on getting a license with a felony.

There is also a note in the Oklahoma Wholesale Dealer License Application about how to apply if you have a felony on your record.

 

Step #3: Complete Other Requirements

 

  • Personal history questionaire (in dealer application)
  • Copy of Oklahoma driver's license
  • Certification of Incorporation or LLC OR a Certificate of Good Standing from the the Secretary of State. You can get a Certificate of Good Standing by calling the OK Secretary of State at (405) 521-3911
  • Photos of outside of sales office
  • Photo of business sign
  • Proof of a business telephone
  • Sample copies of approved condition of sales documents

 

Full requirements can be found in the  Oklahoma Motor Vehicle Dealer License Application.

 

Step #4: Purchase Oklahoma Motor Vehicle Dealer Bond

You must purchase an Oklahoma Motor Vehicle Dealer Bond before you can be issued an Oklahoma Wholesale Motor Vehicle Dealer License. A surety bond protects your customers from fraud or misrepresentation during a business transaction. This is NOT insurance. This is a surety bond and is a requirement for you to get licensed.

 

Not sure how to get an Auto Dealer Bond? Use this interactive tool to help you out.


In Oklahoma, the requirement for a wholesale car dealer bond is $25,000. 

 

The price you pay for your bond is a percentage of this amount. Your rate is determined by your personal credit score and financial strength. Have bad credit? It's okay. We have bad credit options for individuals, so you can get bonded no matter what your situation.

 

Free Wholesale Dealer Bond Quotes

 

Step #5: Pay $600 application fee

Fee must be in form of a check, money order, or cashier's check. The fee is non-refundable UNLESS your Oklahoma Wholesale Auto Dealer License Application is denied, in which case your fee will be refunded.

 

Step #6: Last Requirements and Submit

Note that you are required to attend a education program. Attendance is mandatory for at least one owner. 

Classes are held from 9:00 AM - 12:30 PM on the Monday prior to the monthly meeting of the Used Motor Vehicle Parts Commission. 

  

Step #7: Inspection

Once you submit your Oklahoma Wholesale Dealer License Application, a Commission investigator will contact you about getting your business location inspected.

Once you pass the inspection, and upon approval of your application, you will be issued an Oklahoma Wholesale Dealer License.

 

License Expiration and Renewal

Oklahoma Wholesale Dealer Licenses expire December 31st of odd numbered years (2017, 2019, 2021, etc).

Licenses must be renewed before the expiration date for you to remain in compliance.

 

View our FREE EBOOK: "The Ultimate Guide To Car Dealer Licensing"

 

 

Related Links:

How To Get An Auto Dealer Bond

Motor Vehicle Dealer License FAQ