FAQs
A Surety Bond is an agreement providing for monetary compensation should there be a failure to perform specified acts within a stated period.
Also known as a lost title bond, certificate of title bond, insurance bond, auto title surety bond, defective title bond and DMV bond. A title bond is a guarantee to the state that you can legally be the owner of the vehicle. It allows you to forgo the hearing process and obtain your title quicker. The bond protects the PUBLIC, not the person purchasing the bond. If the previous owner files a claim and the surety company finds they should be paid, the surety company will pay the previous owner the amount of the bond and require the purchaser of the bond to pay that amount back.
The cost is based off 1 1/2 times what the DMV values the vehicle. The bonds start as low as $100.
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Yes.
- Cars
- Trucks
- Buses
- Motor Homes
- Motorcycles
- Mopeds & Scooters
- ATV’s
- Trailers
- Boats
Yes, the bonded title is a negotiable blue Texas Title.
No, a bonded title does not affect the value.
Three years.
We must first verify that the lien has been satisfied and released before a surety bond can be issued.
- Someone who purchased a vehicle without a title.
- Someone who purchased a vehicle with a defective title.
- Previous owner did not transfer title in their name before selling the vehicle.
- Title is signed incorrectly.
- Title is illegible.
- Someone who purchased a vehicle with only a bill of sale/receipt.
A dealer bond is required by the state in order to make sure the dealership conducts business ethically and follows state regulations.
The dealer bond or MVD bond protects the state and the public from fraudulent and misrepresentation by the dealership.
The price is credit and experience based. You can expect to pay anywhere from $225-$1,050+ if you qualify with a standard company.
No. The renewal could be lowered if you stay in good standing credit wise and there are no claims.
Every two years. Most companies, like TMD, will send you a renewal notice.
Questions?
The bonding process can be confusing and cumbersome. Our surety bond experts are standing by and ready to answer any questions. Let’s get you bonded today!