What makes a dealer sale side by side sale different in Oklahoma City?
A dealer sale involves a licensed vehicle dealer selling to a private buyer. Dealers are regulated at both the federal and state level and must comply with requirements that do not apply to private party sales. In Oklahoma City, title transfers are handled at the Oklahoma County Tag Agency (4334 NW Expressway, Suite 151, Oklahoma City, OK 73116). Licensed dealers are required by the FTC Used Car Rule (16 CFR Part 455) to display a Buyers Guide sticker on every used vehicle offered for sale. This sticker discloses whether the vehicle is sold "as-is" or with a warranty, and what systems are covered. Dealers must also collect and remit applicable state sales tax on the transaction.
What is the sales tax on a dealer sale side by side sale in Oklahoma City?
The combined sales tax rate in Oklahoma City is 3.25%. Oklahoma charges a 3.25% excise tax on the purchase price at time of title transfer (not standard sales tax)
Is notarization required for a dealer sale side by side bill of sale in Oklahoma City?
No. Oklahoma does not require notarization for standard vehicle transfers.
What does the buyer need for a dealer sale side by side purchase in Oklahoma City?
Buyers purchasing from a licensed dealer may have access to state lemon law protections, depending on whether the dealer offered a warranty. The implied warranty of merchantability under UCC applies unless the dealer specifically disclaims it in the Buyers Guide. Request a copy of the Buyers Guide, any warranty documentation, and vehicle inspection reports. Bring the signed title, completed bill of sale, and payment for the $11.00 title transfer fee to the Oklahoma County Tag Agency.
Are there special Oklahoma requirements for a dealer sale transaction?
Dealer-generated bills of sale often include additional disclosures beyond a private party document. The document must identify the dealer's license number in most states. Financing through the dealer triggers Truth in Lending Act (TILA) disclosure requirements, including APR, total finance charge, and payment schedule. Dealers must hold a valid license from the state motor-vehicle authority and show their license number on the bill of sale.
Is a dealer sale bill of sale legally binding in Oklahoma City?
Yes. A properly executed bill of sale is legally binding in Oklahoma regardless of party type. Both parties should sign and retain a copy. The seller must also sign over the vehicle title at the time of sale.