Car Title Recovery Bonded Title Scenario # 3

Option Three: Bonded Title
So if you’re looking to get a title for your vehicle we’re gonna now look at option number three in scenario three meaning that you purchase a vehicle you have limited documentation and the vehicle is newer than 15 years old in that case one of the options that is most often used is what’s called a bonded title.

The Bonding Process
In that scenario you purchase a bond from a bonding company it’s the same kind of company the issues bonds that get people out of jail it’s kind of like getting your title out of jail is what it is and they guarantee the ownership of your vehicle if you don’t have the right documentation meaning that you don’t have the old title you don’t have a signed over legal document to you from the prior owner and a bill of sale doesn’t count by the way it’s good that you have that but it’s not enough.

Exchanging the Bond for Title
The bonding company will issue in lieu of that this vehicle bond once you have that you bring it to the DMV or the title office or the license office whatever it’s called in your state and you exchange it for a title in your name.

Costs and Considerations
Now what’s the catch well the catch is the bond might cost you 100 110 hundred and twenty dollars and they also have to prove it at the bonding company remember they’re guaranteeing the full value of the vehicle and you’re only paying $100 so if something goes wrong with the ownership or there’s a claim or there’s a lien they’re on the hook for so they’re gonna make sure that their chances of having to pay that out or slim they don’t want to be adding risk to their portfolio but once you get that bond in your hand you’re clear to go you can go to the DMV and get a title in your name.

Title Specifics
In some states that title may be stamped bonded title it’s not like a salvage title or anything like that it just means that for three or five years that’s going to be on the title so that the bonding company knows that their lien or their bond is protected some states don’t recognize the bonded title so you have to make sure that the state you’re in is okay with that and if you are and kind of move to another state that doesn’t recognize it that could be a problem too it’s something to look into as an option if you don’t have sufficient documentation.

Do-It-Yourself Option
It’s also something you can do yourself you don’t have to pay and out company to do this process for you you buy the bond from the bonding company 100 120 bucks in most cases that bonding company will also help you do the paperwork you don’t have to pay somebody else to do that so find the right company ask them if they will help you with the DMV paperwork turned in that bond wait a few days you’ll have a title in your name and that may be the solution as a worst case scenario if you have no other options.

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