An Auction Bond is required for businesses that conduct vehicle auctions in Oklahoma. This $50,000 bond protects the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission and ensures auction operators follow state laws and regulations. If an auction business violates rules, engages in fraud, or …
Overview
What it is.
An Auction Bond is required for businesses that conduct vehicle auctions in Oklahoma. This $50,000 bond protects the Oklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing Commission and ensures auction operators follow state laws and regulations. If an auction business violates rules, engages in fraud, or …
Who usually needs it
Any person applying for a used motor vehicle dealer's license for the purpose of conducting a used motor vehicle auction.
Pricing & timing
What to expect.
Generic pricing
License bonds are required by state and local governments to ensure compliance with industry regulations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger license bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Same-day approval is typical for many common license bonds. Some license bonds may price higher de…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateOKBond amount$50,000Term lengthBiennialObligeeOklahoma Used Motor Vehicle, Dismantler, and Manufactured Housing CommissionRenewalBonds expire on December 31 of each odd-numbered year. Licensees must submit a new bond or proof of continuation with their biennial license renewal application.Bond classLicense BondCategoryMotor VehicleBondAuction BondStatutory reference47 O.S. § 583JurisdictionState
