- Location: Oklahoma
Dealer Licensing in Oklahoma
People need cars. No matter what the state of the economy, people will buy new and used vehicles. Companies need "rolling stock," trucking services need new rigs, taxi companies need new fleets, and private citizens need cars, vans, SUVs, motorcycles, and trucks―with many people owning multiple vehicles. Just about every American over the age of 18 drives and most of those drivers will, at one time, buy a new or used car.
If you're thinking about opening a new dealership franchise, or if you just want to understand more about the automotive sales industry, you might want to familiarize yourself with the basic automotive dealership rules and regulations.
Once you study up on the basics with this page, read further details on forms, applications, fees, rules, and regulations at Dealer Forms.
An automotive dealership is any commercial business engaged in the sales of automobiles, motorcycles, motor scooters, trucks, motor homes, and specialty vehicles. To familiarize yourself with the basic rules governing automotive dealerships, you might want to begin by reviewing the Oklahoma Motor Vehicle Commission Laws, available online using the free Adobe Reader.
While perhaps not ideal reading for a day at the beach, it will, nonetheless, familiarize you with the rules and laws you'll need to know before opening your new or used automobile dealership.
Here's a quick overview of the rules and regulations for automotive dealerships in Oklahoma:
Your new car dealership must be a franchised automotive dealership. A few of the major new car dealership franchises are:
- Acura, Audi, BMW, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Hummer, Infiniti, Jeep, Kia, Land Rover, Lexus, Lincoln/Mercury, Mazda, Mercedes Benz, Nissan, Pontiac, Porsche/Audi, Saturn, Subaru, Toyota, and Volkswagen.
Your dealership must be licensed with the Oklahoma Motor Vehicle Commission. If you are transferring your dealership to a new owner or if you are purchasing an existing dealership, you will also need to submit the Dealer Change of Ownership Packet.
Note that your dealership is also required by law to have a Used Car Sales Lot.
The fees for a new car dealers' license in Oklahoma are:
- $200 initial license.
- $60 annual renewal.
The fees for a used car sales license are:
- $200 for the initial application.
- $100 annual renewal.
One more thing to keep in mind―there are strict rules and laws pertaining to advertising the new and used vehicles you sell on your lot. Educate yourself on the state's regulations before advertising.