In intelligent transportation system, smart vehicles are equipped with a variety of sensing devices those offer various multimedia applications and services related to smart driving assistance, weather forecasting, traffic congestion information, road safety alarms, and many entertainment and comfort-related applications. These smart vehicles produce a massive amount of multimedia related data that required fast and real-time processing which cannot be fully handled by the standalone onboard computing devices due to their limited computational power and storage capacities. Therefore, handling such multimedia applications and services demanded changes in the underlaying networking and computing models. Recently, the integration of vehicles with cloud computing is emerged as a challenging computing paradigm. However, there are certain challenges related to multimedia contents processing, (i.e., resource cost, fast service response time, and quality of experience) that severely affect the performance of vehicular communication. Thus, in this paper, we propose an efficient resource allocation and computation framework for vehicular multimedia cloud computing to overcome the aforementioned challenges. The performance of the proposed scheme is evaluated in terms of quality of experience, service response time, and resource cost by using the Cloudsim simulator.