The Stovebolt Site Forums The Shop Area General Truck Talk Vehicle Title Bond - How and Where?

I have two 1950s Chevy Panel trucks in the garage that need a title.
The DMV told me (after about 2 months) that I need a title bond
for each of them since neither truck has any ownership history.

How do I get a title bond?
Who can you recommend?
And why did someone tell me I have to be a citizen to get a title bond???

I am not giving up yet!

Thanks for any help.

Andy

Go talk to your insurance agent. I ran into this about 15 years ago with a couple old trucks I bought. I don't recall all of the specifics, but my insurance agent was able to take care of the whole thing.

The whole purpose of this is in case some guy comes out of the woodwork and produces a title for the vehicle after you've fixed it all up, and tries to take it away from you.

I believe they stamp it on your title; but after so many years you're free and clear.

I went through my insurance agent when I had to get one. Its pretty easy to get, cost me $200 or $300, don't remember now. After three years, you are in the clear. Its just insurance that no one can take you truck even if they produce a title.

Joe

My insurance company doesn't sell them, and referred me to a title company. That was a dead end. I was driving down the road one day and saw, outside of another insurance company's office, a little sign that read "Title Bonds." A few Jacksons later, I was good to go.

Check insurance companies, just plain ol' Auto/Home/Life outfits. You'll find one that sells them.

Bill

Sounds like fun! If it is that easy, I should buy some more old trucks (and send my wife on all-Saturday-long shopping trips) :-).

Just do a google search. I am helping a friend go through the process here in Texas on a 26 Model T. We are not completed with the process yet but below are the steps as I understand them and would guess that your state would follow similar procedure.

1. Visit local DMV and complete a couple of their forms. They will tell you the amount of the bond that you must buy. They are going to base it on the NADA value unless you take appraisals with you (which must be done a state specific form but a state certified appraiser). The way they calculate the bond is 1.5 times the value of the car based on the above. They will issue you a letter stating this.

2. Then within one year of receiving this letter you must purchase the bond. You can typically get through an auto insurance agent. You can also try a google search of Minnesota bonded car title and a link comes up for a jalopy journal thread. There is a name and phone number for someone outside St. Paul (NOTE----This is not a referral and I don't know or have ever used this person). The typical bond cost is $15 - $20 per $1,000.

3. Once you have purchased the bond you have 30 days to take the bond along with your letter to the local county tax office to apply for the bonded title. In our case, they are charging us sales tax (6.25%) on the value of the vehicle plus registration, etc.

4. Then from here, anyone has 3 years to make a claim against the vehicle. After the 3 years you will recieve another letter which will then allow you to remove the bond from the title and it is good to go.


This is how I understand the process to be here in Texas. So a 1,000 dollars later we should be done.

Hope this helps and sorry to be so lenghty.

Yeeehah! I finally got my title. Ergo: 1. In Minnesota, it takes at least FOUR months to get a clear title for a vehicle without a title. 2. It costs about $150 for the surety bond (besides the regular title and registration fees). 3. All you really need is the vehicle, a bill of sale, and a few photos (and patience ...).

Congrats!! Apparently the process hasn't changed that much in our state than when I went through it.
Reading some of these other posts about what guys in other states are having to go through, makes me glad I live up here!!