Oklahoma Independent Automobile Dealers Association

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06/13/2017 Highlights           

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Motor Vehicle Sales Tax

06/26/2017 - Sales tax of 1.25% on motor vehicle sales becomes effective July 1, 2017. This tax will be paid by the consumer along with the current 3.25% excise tax when the vehicle is registered at the tag office.


DOCC Issues 2017 Dollar Amount Changes

06/26/2017 - The DOCC has issued updates to the maximum amounts creditors can charge on items affected by the Consumer Price Index.


Model Year Changeover

06/26/2017 - July 1 is the date that 2017 models become eligible for used dealer excise tax exemption.


New Applicants Must Submit OSBI Report

05/03/2017 - Applicants for initial dealer or salesperson license must provide a current OSBI Criminal History Report.


Buyers Guide Changes Announced by FTC

The FTC has issued the Final Rule regarding changes to the Buyers Guide. Rule changes are effective January 28, 2017. Existing stock of current forms may be used until January 28, 2018 (one year after effective date.)


Rule Violations Hit the Bottom Line - Oklahoma used motor vehicle dealers are finding that failure to comply with state and federal regulations can have a negative impact on store profits.

Out-Of-State Reassignment  - Licensed Oklahoma motor vehicle dealers are allowed to reassign other states’ certificates of title, including tribal titles.

Open Safety Recalls  - Independent dealers have three primary choices when faced with selling a vehicle subject to an open safety recall. Points to consider when establishing dealership policy are here.

Title Assignment Date  - The Motor Vehicle Division of the Oklahoma Tax Commission issued a reminder that the certificate of title assignment date is the date of ownership transfer, not the date the title is completed or entered into the OTC system. Here is more info on Completion of the Certificate of Title.

Contracting With Minors  - Dealers frequently ask about procedures for selling a car to a minor. John Maile, Executive Director of the UMV&PC, has prepared a discussion of best practices for contracting with minors.

Model Year Changeover - July 1 is the established date that 2014 models become eligible for used dealer excise tax exemption. However, model year exceptions may apply. Here is more on excise tax exemptions.

Title 42 Reform - OIADA’s Senate Bill 582, Possessory Lien Reform, legislation becomes effective November 1, 2014. Get the details…


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August 3, 2017

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OIADA Office

813 NW 34, Moore OK 73160

405.232.2947

800.346.4232

877.804.3449 (fax)

Board of Directors

John T. Longacre, IV, President

Chris Goad, Chairman

Monte Shockley

Monte Freeman

Executive Director

Rose Morgan

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