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Rent to Own Dealer


 

STATUTES & RULES:  Title 59 O.S. §§ 1950-1957 - Oklahoma Rental-Purchase Act

Oklahoma Administrative Code: Title 160, Chapters 1,3,5,35 (Click link and select "VIEW CODE", then Title 160 Department of Consumer Credit)

DESCRIPTION: This license allows a business to contract with individuals to provide the use of personal property for personal, family or household use in return for compensation. The initial period of agreement is 4 months or less: renewal with each payment thereafter. The renewal with additional payments allows the consumer to become the owner of the property.

TIME FRAME TO ISSUE: The approval process for this license requires 30 days to complete.

FEES: The fees for this license include a $200.00 license fee, $400.00 examination fee of books and records and $200.00 one-time Investigation Fee.

LICENSING PERIOD: This license is valid for one year, beginning January 1st.


RENEWAL PERIOD: This license may be renewed by submitting documentation by December 1st each year.

PREREQUISITES: None


Oklahoma Department of Consumer Credit 

3613 NW 56 Street, Suite 240
Oklahoma City, Oklahoma 73112-4512
Phone: (405) 521-3653 | Fax: (405) 521-6740
In-state Consumer Hotline: (800) 448-4904