Okla. Admin. Code § 260:135-7-102

Current through Vol. 42, No. 4, November 1, 2024

Section 260:135-7-102 - Used vehicle dealer's registration policy

(a)Used vehicles acquired from other states. Used vehicles from other states, acquired for resale by Oklahoma used dealers require an Oklahoma title in the dealership's name. No registration is required. Used motor vehicles acquired from other states by licensed Oklahoma motor vehicle dealers may either be titled in the dealership's name, or ownership may be reassigned by the dealership on the out-of-state title. When reassigning an out-of-state title, the motor vehicle dealer must satisfy the inspection and dealer reassignment provisions of 47 O.S. § 1105. Oklahoma dealers may reassign on another state's reassignment sheet only when ownership was assigned to the Oklahoma dealer by a dealer in that other state, on that other state's reassignment sheet. No notarization of an Oklahoma dealer's reassignment is required if the title, or reassignment sheet, being reassigned is from a non-notary state.

(b)Exemption from transfer registration fee; revenue stamps required. Used vehicle dealers are exempt from the transfer registration fee when getting a transfer title in their name. However, each time a used dealer makes an assignment, a revenue stamp must be attached on the back of the Oklahoma title. Commercial trailer dealers or manufactured home dealers are not required to attach tax stamps.

(c)Removal of out-of-state license plates. If a dealer obtains a vehicle with an out-of-state tag, it should be removed. If the vehicle has an Oklahoma tag, it should be returned to the seller.

(d)Procedure upon sale of vehicle. When a used dealer sells a vehicle, he or she shall advise the owners to title and register the vehicle within thirty (30) days. The owner may transfer a registration from a vehicle they no longer own to the new purchase. Any remaining credit will be applied to the new vehicle, although registration fees may still be due based on the number of years registered for each vehicle. Credit in excess of registration due for the new vehicle will not be refunded.

Okla. Admin. Code § 260:135-7-102

Transferred from 710:60-3-54 by HB 3419 (2022), eff. 5/19/2022

Amended by Oklahoma Register, Volume 40, Issue 24, September 1, 2023, eff. 9/11/2023