The Stovebolt Site Forums The Shop Area General Truck Talk Bonded Titles Revisited

I bought an inoperable '54 3100 back in 2017 with no title, but got a bill of sale. It was off of Ebay from someone in Arizona. There is evidence that he was just flipping it after "owning" just a month. A 1974 North Dakota plate came with it and a key. I live in Illinois. I have documents for the procedure to get the bonded title, but has anyone from Illinois actually went through the process, i.e., Appraiser and Surety company? I see a lot of Texas here.

I had to go thru my insurance company who found a surety company.
I think it was around $150. Don`t think you need an appraiser. Just bill of sale.
In Wis.

As much as you don't want to do it: just go to the DMV in person. Go up to the counter with the documentation you have and politely/humbly ask for guidance.

What they said. My situation was the same but I'm in Arkansas. The lady at the DMV held my hand and got me fixed up. Arkansas takes 3 years to get a clean title after being approved for a bonded title.

I did. I see dumb people. They said they do not do bonded titles. Had to call Secretary of State. They only sent me a guide, no official fill-in documents. It said get appraisal and surety bond, no how or where. It looks like I have a more difficult State.

A difficult state? Could be. Perhaps you can post in the Great Lakes Bolters area and see if you can find someone who had done it there. Within that spot is one specifically looking for those in Illinois. Once you get a good answer, and it works, let us know and we can deal with the other threads.

You can post in all three places. People *enter* into the forums in different ways. We imagine it's pretty frustrating not getting info from DMV. The quote: "Don't worry; I'm from the government" comes to mind.

When I shipped a M-151 Jeep I bought surplus in Okinawa back to California in 1972, the paperwork got lost somewhere in transit. California issued me a bonded title with a 3 year length of time after I posted a bond equal to the appraised value of the vehicle by two used car dealers. The concept of a "bonded title" is basically an insurance policy that guarantees the value of the vehicle so the state can issue a title without incurring liability in case the vehicle turns up as stolen property. Most independent insurance agents can write a surety bond for whatever length of time the state requires, after which a permanent title is issued without restrictions. Don't even think about selling the vehicle during the time span of the bond!
Jerry

Out of curiousity, did you specifically ask for a bonded title? Or did you ask about how to get a title for the vehicle you have?

I ask because I made that mistake a few years back as well. I thought that "bonded title" was the generic term for anything like this, but it is actually a very specific kind of title that Idaho only issues for vehicles under 10 years old.

What I actually needed was something else (whose name escapes me at the moment) that was much easier and cheaper to do.

Good information from folks here. For Illinois, the vehicle has to get appraised. Afterwards, the State will issue the bond amount at 1 1/2 times appraisal (appraisal after I spent mega bucks and hours on the truck???). Then I submit that number to the Surety company and then pass all required documents to the State for approval. Geez, I had no clue about this hassle when I bought the junk truck.

Thats why Jerry said what he did and what I did was go thru my insurance company. They talked with the surety company
I never did. Insurance told surety what I paid w/o a receipt. Insurance company did it for free. Of course ,I used their company for the
truck.

A good independent insurance agent (one that's not joined at the hip to a specific company) can be worth his/her weight in gold to a customer with special insurance needs. We've been with the same group for 40-something years, and they shop for the best rates for our homeowners' and vehicle coverage on a regular basis. If one insuror gets outrageous on their price or fails to honor a claim properly, we "vote with our feet" (and our dollars) with the assistance of our local agent to find a better deal. I've been known to donate a big pan of home-smoked pulled pork BBQ to the place on occasion!
Jerry

JoeDude, Why would you wait until the truck is done to start this process? I think I would get this going now with a low value for the bond.
Or ????? Have you already restored the truck? I can't tell from your post.

MY BAD_____ I now see you bought it in '17

I'm going to throw a wrench in things. Do you HAVE to have a title? Your state require it?

Only reason I ask......I bought my truck out of Jonesboro, Arkansas. Didn't run, was a rust bucket, all I got was a Bill of Sale. Three years later, after a full restoration, I go to the State tax office to see what needs to be done about getting a title. My only concern was getting a license tag, the title didn't interest me, but figured I was going to have to have a title to get a tag. I knew about bonded titles and what goes into all that. They told me, here in Mississippi, unless I'm going to sell the truck, no title is needed to get a tag. i left there quick as I could, went to the county tax collectors office, showed them the Bill of Sale and info I had written down on the truck, and got a tag. in and out in 10 minutes.That was April 2019. I still don't have a title, nor do I have any interest in getting one.

Only issue, is gonna be one of these days, when I'm looking up at the grass and not down, Kade, (my grandson who'll wind up with it), would have a hard time selling the truck. Which is fine by me.

Colorado issues a title with a notarized bill of sale, thanks to old club efforts. After put together, get inspected by state inspection station, not smog station, hand in paperwork!

Ed

Have you looked into companies like this?

https://cartitles.com/car-title-rep...TEUV8c-LK26J7hZf6QVh1-BtepcaAmykEALw_wcB

Mike B

I had not thought about the no-title idea. Nice, but I think Illinois is too "hardnosed." The idea is that the state does not want to risk being sued by a legitimate owner coming forward in the future. I do not think this ideology applies to my truck. As a laymen, like myself, the truck should have stayed in a junk yard or field forever, or as the wife said, why did I buy a "rotten" truck? I am now happy it turned out fairly decent. So with all that, who in North Dakota (based on a 1974 plate that came with the truck), 50 years later is going to claim a "rotten" truck as theirs (unless they want a yard ornament).
I see from here, some people live in "easy" States.

I know you've probably already heard this, but you should have gotten this straighten out BEFORE you spent one penny on it...IF the grandkids have Grandpa's truck title and it was pulled out of the field without their permission (which would be the case cause they still have the title), they're going to be happy you restored it for them! I know the chances of this actually happening are slim to none, but stranger things have happened.

If someone puts a valid claim in on a bonded title the bonding company pays the State. Then the bonding company comes after you for the full value of the bond, so not only do you loose the vehicle, but you also have to repay the bonding company.

Mike B

I know two people personally that this happened to in the last 15 years. Neither one bothered to do the DMV paperwork until after they spent the time, money, and effort on the restoration.

In the unlikely event someone comes forward with title in hand, I will proceed to sue the Ebay seller as he had stated he was selling a non running truck that just needed a few parts. It actually needed a lot of parts and big expense. He did not state it was a parts truck. The big question would be how he obtained the truck and just only to flip it.

Follow-up:
After three months, I finally got plates and bonded title. I found a title service that guided me through the process. Several documents had to be signed and notarized. For appraisal, all I needed was photos of truck (four sides) to send in. My bond ended up being 1 1/2 times my purchase price, before restoration. The biggest hassle was with the Secretary of State Police (SOSP). The first officer that came out was adamant that there were two numbers on truck that needed to match. When he could not find, some days later, he brought a second officer that supposedly knew more about the truck. He had some sandpaper, got underneath on driver's side, just after front wheel on frame, and sanded away and ended up with a grimed face and no number found. Later, the officer signed the approval document. I had the plate option of just driving to shows or mechanic, no driving November to March, or full year driving plate. I opted for the no Nov-March plate. I'll probably violate that rule/law now and then.

One can get a title in CO with only a notarized bill of sale. Thanks to Car Clubs.

Ed

Just wondering what the cost difference was between the plates the full year or the limited?

Full year plates in my State is $151. Limited plates are $45.

I registered my truck with a YOM plate (Alaska had just eliminated the requirement for front plates ) as an historical vehicle. Cost me $100 in fees. They initially said it expired in 2 years, but I was just at DMV to check on that and was told that it's a perpetual registration and won't cost anything more. There are "restrictions" on when and where I can drive it (shows, parades, etc.) but no one pays any attention to that. Standard "unrestricted" registration costs $100 every 2 years.

The Historical Vehicle Tag on Thor was $18.00 here in Georgia. No limitations on how much or where it's driven.

Full year plates in my State is $151. Limited plates are $45, and yes, I know it's a small difference, but I live in a winter climate that is not always so good to drive the truck. I have yet to hook up the heater in hopes the core will not leak...it probably will.

Was going to buy a Truck out of Texas till I found out it had a bonded Title. Check with the DMV in Georgia I would have to go through a lot of legal expense and maybe have a lawyer get involved . Before they could issue a tag and Title. Too much of chance to take. I did not buy the Truck

Depending on the worker at DMV, some do not have a clue. I would check with a title service.

Too true! The lady at DMV who did my registration said "this is the first time I've done this" for a YOM license plate and proceeded to give me a registration with an expiration on it, which was wrong. But I got it sorted out.

My experience many years ago in Michigan was that all I needed was a bill of sale. The truck I bought was used on a farm and being so (never on the Road) did not need to be Plated. So I was able to get my title with the bill of Sale and that was it. Right, wrong or Illegal that is all I had to do. No matter what you do I find that any time you deal with the DMV or secretary of state or license burrow, Kindness, politeness, and profuse patience is key. Making sure to thank them and let them know you appreciate all the Help that they are give you!

Might help point the way, or not.

Pick your State.

Everything You Need to Register and Title Your Hobby Car in All 50 States

-Woog

One can get a title on older vehicles in CO with a notarized bill of sale.

Ed

Great website, thanks for sharing!

Mike B